SOURCE: BioNitrogen Corporation

BioNitrogen Corporation

July 02, 2012 11:42 ET

BioNitrogen Corporation Announces Board Reorganization

MIAMI, FL--(Marketwire - Jul 2, 2012) - BioNitrogen Corporation (PINKSHEETS: BION) today announced the appointment of Mr. Bryan Kornegay, Jr. and Mr. Juan Manuel Vazquez to its Board of Directors and Mr. Peter Smiechowski as a special advisor to the Board. Mr. Juan Manuel Vazquez replaces Mr. Jay Almeida as Director, who recently resigned for personal reasons. 

Mr. Kornegay also has been appointed to the position of CFO, replacing Michael McCarthy who will stay on with the Company in the capacity of Comptroller. 

Mr. Kornegay brings over 17 years of accounting, finance and private equity experience. He has worked at Hicks, Muse, Tate & Furst, a private equity firm that managed over $14 billion in capital. In addition, his prior experience includes CFO and director positions in public and private companies. He has also performed transaction services and audit work for PricewaterhouseCoopers and Arthur Andersen and is a Certified Public Accountant. Mr. Kornegay earned a B.B.A. from Southern Methodist University in Accounting and an M.B.A. from Columbia Business School.

Mr. Vazquez brings over 12 years of private equity and finance experience. Since 2005, he has worked for a private equity and advisory firm focused on commodities industries in the Americas. Prior to his current position, Mr. Vazquez was a buy-side analyst covering banks, financial services, industrial and utilities companies. Mr. Vazquez holds a BS in Finance from Universidad Argentina de la Empresa and a Masters in Finance from Universidad Torcuato Di Tellain in Buenos Aires.

Mr. Smiechowski brings over 12 years of capital markets and entrepreneurial experience. He started trading for a large Canadian bank-owned dealer and became the head trader of a multi- strategy hedge fund that grew its assets to over $250 million dollars. He has significant experience in raising capital and emerging companies. Mr. Smiechowski earned his BCOMM from the University of Toronto and is a CFA charter holder.

Commenting on these appointments, Mr. Carlos Contreras, BioNitrogen's President & CEO, said, "These additions to the Board bring more than 40 years of combined accounting, financial and capital markets experience. We are pleased to have two new Board members who will help us direct the next growth stages of the Company, while at the same time we are pleased to see that our financial team has been strengthened with the addition of Bryan as the CFO."

About BioNitrogen Corporation

BioNitrogen Corp. (PINKSHEETS: BION) is focused on building turnkey manufacturing facilities to produce urea, which is principally used in the agricultural industry as a crop fertilizer. Our innovative, patent-pending technologies transform residual agricultural waste and other biomass materials into high-quality urea for sale to agricultural wholesalers and retailers. Additional information can be found at

Safe Harbor Statement

The forward-looking statements contained in this document involve risks and uncertainties that may affect the Company's operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the Company's expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

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