TORONTO, Nov. 14 /CNW/ - Green Environmental Technologies Inc. (listed as "GEI" on the TSX-V) is pleased to announce the election of a new board of directors after a special meeting of the shareholders called by ENPAR Technologies Inc. (a holder of approximately 14% of the outstanding common shares of GEI) held on November 5, 2008, the voting results of which are available under the profile of GEI on SEDAR. The new board of directors consists of Mr. Jon Bridgman, Mr. Vito Monardo, Dr. McKenley Esnard, Dr. Barry J. Shelp, and Dr. Gene S. Shelp (the "New Board").
The New Board intends to commission a public accounting firm to complete audited comparative year-end financials as required under all applicable laws and submit an application to the Ontario Securities Commission to have the current cease trade order lifted. If this is successful, the New Board plans to move forward with a strategic plan to acquire qualified business activities in order to maximize shareholder value, and make best efforts to recapitalize the corporation so that it has the necessary capital to acquire a new business.
Jon Bridgman has over forty years of investment and financial experience with three major Canadian brokerage firms and a major U.S. insurance company. Having served as a director of several public and private companies, Mr. Bridgman has extensive senior management and operational experience.
Vito Monardo has twenty-five years of investment experience with three major Canadian brokerage firms. As an independent consultant to businesses and entrepreneurs, Mr. Monardo acquired broad knowledge of various businesses and industries. Mr. Monardo was also a director of a public company and as such has knowledge of supervisory and corporate governance responsibilities.
Dr. McKenley Esnard is a recognized expert in information technology and security, and is founder and President of a company which provides informatics consultants to both private and public sectors. As a senior member of the Diplomatic Corps, Dr. Esnard held posts in China, the Soviet Union, South Africa and Barbados. He served as chief negotiator during the Biafran crisis. Currently, he is Vice Chair of United Nations Canada and Chairman of Fabian Trust. In addition, Dr. Esnard is Chairman of the board of directors of ENPAR Technologies Inc. and has served on the Boards of Directors of multinational corporations in both the private and public sectors, including Nortel Inc. and Bectel Engineering.
Dr. Barry Shelp is co-founder, director and secretary of ENPAR Technologies Inc. In addition, Dr. Shelp is professor of plant physiology/biochemistry in the Department of Plant Agriculture at the University of Guelph. Dr. Shelp has expertise in plant nutrition and plant response to environmental contaminants, revegetation of reclaimed sites and environmental impact studies, and production of major crop plants with improved ability to tolerate pests and environmental stresses using state-of-the-art biochemical and molecular techniques.
Dr. Gene Shelp is co-founder, President and Chief Executive Officer of ENPAR Technologies Inc. Dr. Shelp is a professional geoscientist with approximately ten years of experience in mining and fifteen years of experience in water treatment, with an emphasis on the water quality issues associated with development, operation and decommissioning of mine sites. Over the past thirteen years, Dr. Shelp spearheaded the development of electrochemical water treatment technologies for remediating surface waters, groundwater, and municipal and industrial process and waste waters contaminated with metals, ammonia and nitrate.
The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Additionally, we undertake no obligation to comment on expectations of, or statements made by, third parties in respect of the proposed privatization transaction. For additional information with respect to certain of these and other assumptions and risks, please refer to the dissident proxy circular filed October 16, 2008 with the Canadian securities commission (available at www.sedar.com).