Vancouver, BC – Northstar Clean Technologies Inc. (TSXV: ROOF) (“Northstar” or the “Company”) is pleased to announce key strategic appointments to its senior management team as the Company prepares for significant business developments in 2022. All appointments are effective December 15, 2021.
Chief Financial Officer – Rosemary Pritchard
Ms. Rosemary Pritchard has joined Northstar as Chief Financial Officer (“CFO”). Ms. Pritchard intends to develop the Company’s financial strategy and structure with a focus on non-dilutive funding and growth. As well as bringing deep financial expertise, she will also have accountability for the Company’s human resources and information technology departments. Ms. Pritchard has 30 years of executive finance experience in a variety of industries. Her roles included 9 years in the construction industry in controllership and COO roles, 5 years in public practice at Grant Thornton LLP, 8 years as CFO of the national furniture retailer Urban Barn, a Vancouver-based company with over 50 locations and more than 650 employees. Ms. Pritchard assisted in growing Urban Barn annual revenues from $20 million to $70 million and locations from 19 stores to 42 stores in 8 years. As CFO of Urban Barn, Ms. Pritchard was responsible for implementing the SAP ERP system, employee policies, internal controls and infrastructure. She was most recently the CFO of Arterran Renewables, a company in the green energy sector. Ms. Pritchard has a wide variety of executive financial experience including debt financing, stakeholder management, board reporting, and project management. She also has extensive experience in implementing infrastructure, building strong leadership teams, and working with high growth companies.
Mr. Aidan Mills, President & CEO of Northstar, commented, “Rosemary is a tremendous addition to our business. She is committed to our strategic objective of making a disruptive difference in the shingle processing business and will lead our drive to secure material, non-dilutive funding through market and government support. Additionally, we will retain Sead Hamzagic in his new role as Director of Finance. Sead has been instrumental in developing the solid financial framework of the current Northstar business, particularly through the Empower amalgamation in late 2020 and TSX Venture Exchange listing in July 2021. We are delighted to have the financial leadership of Northstar in the hands of Rosemary and Sead going forward.”
Ms. Rosemary Pritchard, CFO of Northstar, stated “I am delighted to join the team at Northstar. We have a clear, defined growth plan for a rollout into key markets across Canada and the United States. We are at a critical juncture as we build a real, operating business and I am excited to be a part of this growth going forward. Through development of our modular asphalt shingle processing facilities, our rollout across Canada and the United States can help provide significant environmental benefits and help avoid major disposal of asphalt shingles into already over-crowded landfills.”
In conjunction with Ms. Pritchard’s appointment as CFO of the Company, Mr. Sead Hamzagic will take on a new role as Director of Finance. Mr. Hamzagic’s responsibilities for the day-to-day financial management of the business will continue.
General Manager, Alberta – Allen Gervais, CPA, CMA
Mr. Allen Gervais has joined Northstar as General Manager, Alberta. Mr. Gervais will lead the development of Northstar’s planned Alberta business. Mr. Gervais has 15 years of construction materials and project management experience with several major corporations. He has diverse knowledge of the construction industry, including managing several major infrastructure projects with contract values exceeding $100 million. Mr. Gervais also brings extensive experience driving product and service innovation, leading high performing teams, and managing operational excellence. He holds a Bachelor of Commerce degree from the University of Manitoba and is a Chartered Professional Accountant (CPA, CMA).
General Manager, Ontario – Dave Wood and Tammy Wood
Mr. Dave Wood and Mrs. Tammy Wood, as owners of Wood Equipment Inc., have agreed that Mr. Wood and Mrs. Wood will act as Northstar’s General Managers, Ontario, leading the development of Northstar’s planned Ontario business. Mr. and Mrs. Wood each offer 20 years of entrepreneurial experience, owning and building a successful environmental business, specializing in organic waste diversion and associated logistics. They bring to the table extensive knowledge and experience in waste management, operations management, and asset management.
Senior Process Advisor – Steve Thomas
Mr. Steve Thomas has joined Northstar as Senior Process Advisor and will be responsible for leading the engineering design process for the Company’s first scale-up facility, in conjunction with BBA Engineering. Mr. Thomas is an accomplished senior process specialist. His commitment as lead Senior Process Advisor demonstrates his confidence in the Bitumen Extraction & Separation Technology (“BEST”) and his commitment to both the successful engineering of the first scale-up facility and the ongoing process improvement of Northstar’s existing facilities as we roll out these facilities across Canada and the United States. Mr. Thomas has over 25 years experience in Refinery, Steam Assisted Gravity Drainage (“SAGD”), and Upgrader facility design from global engineering, procurement & construction (“EPC”) and owner companies. He has experience from projects of all sizes and from all stages, feasibility through to commissioning and plant optimisation, providing valuable experience in facility design, modularisation, construction, operations, and project management. He holds a Bachelor of Engineering in Chemical Engineering from the University of Surrey, UK.
Securing Additional Senior Management
Mr. Gordon Johnson and Mr. Terry Charles, co-founders of Empower Environmental Solutions Ltd. (“Empower”), a wholly owned subsidiary of Northstar , and the developers of the Company’s proprietary design process technology, have assumed new roles with the Company as Director of Business Development and Director of Special Operations, respectively. Mr. Johnson will continue to serve as a member of the Northstar Board of Directors. Both Mr. Johnson and Mr. Charles will continue in their previous roles with Empower as President and Chief Operating Officer, respectively.
Mr. Aidan Mills, CEO of Northstar, has also been appointed President of Northstar, and CEO and sole director of Empower.
Mr. Jim Bird, a Technical Advisor to the Company, has agreed to continue to provide technical direction and leadership to the business. Mr. Carson Sedun will transition from the part-time role of Director of Capital Markets to full-time Director of Corporate Development. Mr. Sedun will lead the corporate development of Northstar, including engagement with equity and debt providers, and government partners.
Mr. Aidan Mills, President & CEO of Northstar, stated, “These senior management appointments are the culmination of the hard work we have carried out over the last few months since our C$12.2 million capital raise in July 2021 to build a first-class team to deliver the strategic objectives of Northstar moving forward. I am convinced these appointments provide an incredibly strong team by securing the founders, retaining the expertise that brought the Company to the successful financial stage we are at today, and adding the capability to drive the business forward with clear financial purpose and deep market engagement. This is a significant step in the development of our business and creates a fantastic platform to launch our delivery in 2022. The rollout of our Northstar facilities across Canada is an important part of the business strategy. To successfully complete this, it is key to have a General Manager in each region, leading the engagement in site selection, permitting, government interaction, and customer engagements for both shingle supply to Northstar and product supply to users. The hiring of Allen Gervais as General Manager, Alberta and Dave and Tammy Wood as General Managers, Ontario fully achieves this and puts the Company in a strong position to engage in both markets.”
Stock Option Grant
The Company also announces it has granted 400,000 stock options to employees at an exercise price of $0.35 for a 5-year term and 875,000 stock options to consultants at an exercise price of $0.35 for a 3-year term. All options vest as to 25% on each of 6, 12, 18 and 24 months post-issuance
Northstar Clean Technologies Inc. is a Vancouver-based clean technology company focused on the recovery and repurposing of single-use asphalt shingles. Northstar has developed a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracting the liquid asphalt, aggregate sands and fiber for usage in new hot mix asphalt, construction products and other industrial applications. Northstar plans to process used or defective asphalt shingle waste back into its three primary components for reuse/resale at its Empower Facility in Delta, British Columbia. Northstar’s mission is to be one of the leading shingle material recovery providers in North America, extracting 99% of the recovered components from asphalt shingles that would otherwise be sent to a landfill. For more information on Northstar, please visit www.northstarcleantech.com.
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Cautionary Statement on Forward-Looking Information
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The TSXV has neither approved nor disapproved the contents of this press release.
This press release may contain forward‐looking information within the meaning of applicable securities legislation, including statements with respect to personnel announcements and their impact on the business of the Company, plans for significant business developments for 2022 and for non-dilutive funding and growth, including the proposed development of facilities in Alberta and Ontario. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, failure to satisfy all of the conditions to complete the Listing, and the factors discussed under “Risk Factors” in the final prospectus of the Company dated June 18, 2021. The Company does not undertake any obligation to update such forward‐looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.