Business
GEMXX Corporation Expands to Private Equity Oil and Gas Funding, Welcomes Deane Preston to Its Board of Directors
GEMXX Corporation Expands to Private Equity Oil and Gas Funding, Welcomes Deane Preston to Its Board of Directors.
About this update from Gemxx Corp.
[{"type":"text","content":"\n LAS VEGAS, May 07, 2024 (GLOBE NEWSWIRE) -- via IBN - GEMXX Corporation ( OTC: GEMZ ) (\"GEMXX\" or the \"Company\"), GEMXX Corporation is strategically expanding its business model to include private equity funding for oil and gas (O&G) exploration. Leveraging its many relationships around the world, and newly formed strategic partnerships, this new business channel will fund exploration of giant (500 million barrels) and super-giant (3 billion+ barrels) oil fields in Latin America. The addition of this new business channel represents a calculated move to tap into moderate-risk, high-reward onshore O&G opportunities. The targeted focus is on overlooked and very underexplored basins, which Company research confirms are the correct conditions to hold substantial oil reserves. Utilizing an extensive O&G network including major global players, GEMXX aims to forge robust strategic partnerships and secure essential capital to quickly advance these ambitious exploration projects. Currently, GEMXX is in final negotiations to secure financing for an impressive four-well, wildcat drilling program aimed at discovering vast O&G reserves. For this initiative, the Company is strategically shifting towards private equity funding. GEMXX aims to enhance its presence in the global energy market but also create maximum shareholder value by ensuring lucrative returns on investment. Further, GEMXX is very pleased to announce the appointment of Deane Preston to its Board of Directors, effective May 15, 2024. With a distinguished career marked by expertise in electrical infrastructure planning, installation and management, Preston brings invaluable insights and leadership to the GEMXX team. \"We are delighted to welcome Mr. Preston to the GEMXX Corporation Board of Directors,\" said Richard Clowater, GEMXX CEO and Chairman of the Board. \"Mr. Preston’s wealth of experience and proven track record in the energy infrastructure sector align perfectly with our strategic goals. We look forward to leveraging his expertise as we continue to drive innovation and excellence.\" Preston's appointment to the GEMXX Board of Directors underscores the company's commitment to excellence and innovation. His appointment further strengthens GEMXX Corporation's leadership team, positioning the company for continued success and growth in the dyna...