CALGARY, July 8, 2016 /CNW/ - Gemini Corporation (GKX-TSXV) is pleased to announce that Mr. Mike Lambert ICD.D, CPA, CA has been appointed to its Board of Directors. In addition the Corporation wishes to announce Mr. Chris Podolsky CPA, CA will be joining the organization as Chief Financial Officer, effective July 11, 2016.
Mike Lambert is a retired Executive with extensive experience in leading the finance functions of large public companies. He possesses a broad exposure to operations and strategy, and a focus on increasing organizational efficiency. Mike has held senior finance positions in public companies that include Black Diamond Group, Parkland Fuel Corporation, the Forzani Group, and Canadian Pacific Railway Company. In addition Mike was a Member of the Board of Directors and Chairman of the Compensation Committee of Yellow Media (formerly Yellow Pages Income Fund) and was formerly a member of the Board of Directors and Chairman of the Audit Committee of Premium Brands Inc.
Chris Podolsky is a senior financial executive with experience in the energy services sector as well as engineering and construction companies. He has over twenty years' experience in senior financial positions, with fifteen years of experience serving as a Chief Financial Officer or Controller. Most recently Chris served as the Chief Financial Officer of Focus Corporation that was later sold to WSP where he remained as their Senior Vice President, Business Services. His senior financial and accounting experience as well as business and strategic skills will help Gemini stabilize and grow in this complex and difficult economy.
"I am pleased to welcome our new director to the Board as well as our new CFO to the company" stated Kevin Beingessner, Gemini's Chairman of the Board. "The future for Gemini is developing into an exciting opportunity for everyone involved and we are looking forward to the direction and guidance to be received from the diverse backgrounds of our new Director and the management and skills from our new CFO as Gemini adapts and grows in this environment."
The hiring and appointment of Mr. Podolsky and Mr. Lambert has resulted In the granting of 12,000 performance share units and 162,500 restricted share units with a vesting date of January 1, 2019. The unit plan is structured to settle the performance share units by the issuance of shares on the vesting date.
In addition, the hiring of Mr. Podolsky has resulted in the granting of 150,000 options to purchase Gemini common shares at an exercise price that will be determined on the effective date of his employment. Under the terms of Gemini's option plan, the options will be valid for four years and vest one-third immediately and the remainder at one-third on each of the next two grant date anniversaries. These grants bring the total number of options outstanding to 2,074,000 or 2.7% of the 76,882,832 issued and outstanding common shares of the Corporation.
About Gemini Corporation
Gemini Corporation is a professional services firm that designs, builds and maintains energy and industrial facilities. We provide regulatory, environmental, engineering, fabrication, installation and maintenance solutions for clients through stand-alone or integrated service delivery models. Our design-build capabilities differentiate Gemini and provide tremendous value-added benefits for clients, such as cost certainty, schedule compression and one point of accountability. The Corporation's principal target markets are midstream oil and gas, oil and gas production, in-situ heavy oil, and oil and gas processing across western Canada.
Shares of Gemini trade on the TSX Venture Exchange under the symbol GKX. For more information about the Corporation and its services, go to www.geminicorp.ca.
This news release may contain forward looking information that represents Gemini's internal projections, expectations, estimates or beliefs concerning, among other things, future operating results and various components thereof or Gemini's future economic performance. All statements other than the statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expects", "projects", "plans", "anticipates", and similar expressions. The projections, estimates and beliefs contained in such forward-looking statements are based on management's assumptions relating to Gemini's performance and competition within the sectors in which it competes, the continuation of the current regulatory and tax regimes in the jurisdictions in which Gemini operates, and necessarily involve known and unknown risks and uncertainties, including risks and assumptions relating to client service demand, field service costs, labour rates, and other factors that may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted or suggested. The Corporation does not undertake to update any forward-looking information in this document whether as to new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Gemini Corporation
For further information: Kevin Beingessner, Chairman, (403) 231-7700; Pete Sametz, President and CEO, (403) 259-0311, [email protected]