- Alan Gaines is a globally
respected and highly experienced investment banker/advisor and
entrepreneur that is active within the clean tech sector, including
electric vehicles, battery technology, and energy storage and
infrastructure.
- Gaines' strong financial and governance related background,
which includes significant experience with NASDAQ uplisting
procedures and companies, M&A, and corporate development, will
support Exro's future growth strategy.
- Gaines replaces Daniel McGahn
who has resigned from the board for personal reasons.
CALGARY, AB, Aug. 19, 2021 /CNW/ - Exro Technologies Inc.
(TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a
leading clean technology company that has developed a new class of
power electronics for electric motors and batteries, is pleased to
announce that Alan Gaines, an
accomplished and respected leader in finance and clean energy, has
joined the Exro Board of Directors ("Board"). Gaines will provide
direction as Exro expands its product portfolio and continues to
mature as a company publicly listed on the Toronto Stock Exchange
("TSX").
Gaines will replace Daniel
McGahn, who has resigned from the Company's Board for
personal reasons. McGahn has served as a member of the Exro Board
since January 2017. "Exro would like
to thank Dan for his many years of guidance and contribution to
Exro's growth and wish him all the best in his personal and
professional endeavours," said Sue
Ozdemir, Chief Executive Officer of Exro.
Gaines is a globally respected and highly experienced investment
banker/advisor and entrepreneur. He presently serves as Chairman
and CEO of ALG Corp. Gaines specializes in large-scale capital
formation, uplisting companies to NASDAQ and the New York Stock
Exchange, M&A, corporate development, and board protocol and
corporate governance. Gaines has more than 35 years of experience
as a transactional investment banker and M&A advisor, having
led or participated in the raising of debt and equity totaling
significantly more than $100
billion.
Gaines is also active within the clean tech sector, including
renewable/sustainable energy, traditional fossil fuels, electric
vehicle and battery technology, energy storage and infrastructure,
and metals/minerals primary extraction spaces. He is a Director of
Auto Innovation Group, Ltd. and David Brown Automotive, Ltd., both
based in the United Kingdom.
Gaines was appointed Chairman of the Board of Vision Marine
Technologies (NASDAQ-VMAR) in May
2021, a global scaled producer of proprietary electric
powertrains and e-boats for the legacy recreational powerboat
market. Gaines brings deep financial and industry experience to
Exro that will support its future growth strategy.
"I am thrilled to join the Board of Directors and the superior
management team at Exro", said Gaines. "I've been a champion of
clean technology and its impact on the transportation industry for
many years, and I foresee a great opportunity for Exro to help
bring electric vehicles into the mainstream. I believe my financial
acumen will further enable Exro to continue its rapid growth
trajectory and capitalize on a booming market landscape."
"As we continue to grow our business and expand our offerings in
the clean tech market, I'm very excited to have Gaines join us with
his financial expertise," commented Ozdemir. "I'm confident his
insight will help us accelerate the impact of Exro's technology as
countries announce more ambitious electric vehicle targets on a
global scale."
About Exro Technologies Inc.
Exro is a clean technology company pioneering intelligent
control solutions in power electronics to help solve the most
challenging problems in electrification. Exro has developed a new
class of control technology that expands the capabilities of
electric motors, generators, and batteries. Exro enables the
application to achieve more with less energy consumed.
Exro's advanced motor control technology, the Coil
DriverTM, expands the capabilities of electric
powertrains by enabling intelligent optimization for efficient
energy consumption. Exro is working with many partners from all
over the world to bring their technology to the electric mobility
industries and beyond.
For more information visit our website at www.exro.com.
Visit us on social media @exrotech.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
STATEMENTS
This news release contains forward-looking
statements and forward-looking information (together,
"forward-looking statements") within the meaning of applicable
securities laws. All statements, other than statements of
historical facts, are forward-looking statements. Generally,
forward-looking statements can be identified by the use of
terminology such as "plans", "expects", "estimates", "intends",
"anticipates", "believes" or variations of such words, or
statements that certain actions, events or results "may", "could",
"would", "might", "will be taken", "occur" or "be achieved".
Forward looking statements involve risks, uncertainties and other
factors disclosed under the heading "Risk Factors" and elsewhere in
the Company's filings with Canadian securities regulators, that
could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking statements. Although the Company believes
that the assumptions and factors used in preparing these
forward-looking statements are reasonable based upon the
information currently available to management as of the date
hereof, actual results and developments may differ materially from
those contemplated by these statements. Readers are therefore
cautioned not to place undue reliance on these statements, which
only apply as of the date of this news release, and no assurance
can be given that such events will occur in the disclosed times
frames or at all. Except where required by applicable law, the
Company disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by
the Company with the Canadian securities regulators, including the
Company's annual information form for the financial year ended
December 31, 2020, and financial
statements and related MD&A for the financial year ended
December 31, 2020, filed with the
securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information 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. The
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
Neither the Toronto Stock Exchange nor the Investment Industry
Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this press
release.
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SOURCE Exro Technologies Inc.