Homeland Energy Group Ltd.
TSX : HEG

Homeland Energy Group Ltd.

July 09, 2009 13:47 ET

Homeland Confirms Independent Director Nominee for Annual General Meeting July 14, 2009

TORONTO, ONTARIO--(Marketwire - July 9, 2009) - Homeland Energy Group Ltd. (TSX:HEG) ("Homeland" or the "Company") wishes to announce that it has completed its due diligence for an additional independent director and would like to provide proxy process information in light of the postponement of the Annual General Meeting originally scheduled to be held on June 30, 2009.

The following six people are proposed for the slate of directors as more particularly set out in the Management Information Circular dated June 3, 2009:

- Laurence Curtis - independent director

- Jeff Lowe - independent director

- B.V.N. Rao - non-executive director

- Ashis Basu - non-executive director

- Raaj Kumar - non executive director

- Avrom Howard - non-executive director

In addition, Mr. Edwin S. Lee has been proposed for nomination by the Board of Directors as the seventh and independent director. Mr. Lee brings experience in corporate governance, corporate finance and his international network and experience to the Board. Since 2004 Mr. Lee has been a Director of several Phoenician Family of Funds, from 2001 to present he has been a partner and Managing Director of Newhaven Merchant Bankers. Mr. Lee currently holds no shares of Homeland Energy Group Limited.

The following is a biography brief for Mr. Lee:

Mr. Lee is a Managing Director of Newhaven, an international merchant bank with offices in Toronto, Dubai, London and Hong Kong. He is also a Director of several investment vehicles branded Phoenician Family of Funds. He currently serves on the Board of Directors of several publicly traded companies, listed on North American and European exchanges, and is a member of the Canadian Institute of Chartered Accountants.

Management will be voting in favour of this slate of seven directors.

All proxy forms submitted for the originally-scheduled meeting are valid. Shareholders who have submitted a proxy form directly to Homeland's transfer agent, Equity Transfer and Trust Company ("Equity") may do nothing and votes will be counted as originally voted. Alternatively, shareholders who submitted a proxy form to Equity and who wish to make a vote change (revoke their form of proxy) are directed to contact Equity to request a clean (green) form of proxy to resubmit. Shareholders with proxies submitted through a broker may do nothing and continue with the original vote or contact their brokers if a change is requested.

The Annual General Meeting has been rescheduled for Tuesday, July 14, 2009 at 4:00pm EDT. It will be held in the Manitoba Room of the Royal York Hotel, 100 Front Street West, Toronto, Ontario, M5J 1E3. Shareholders who have not yet submitted a proxy or wish to revoke an existing proxy will have until 4 PM on Friday, July 10, 2009 to do so.

To be clear, non-registered shareholders who have not already submitted a proxy, and wish to vote their proxy in person at the Annual General Meeting, must still submit a proxy by the 4:00pm deadline on Friday July 10, 2009.

Homeland Energy Group Ltd. (TSX:HEG) is a coal producer with operations in the Witbank area of South Africa. The company also has a large-scale development property in South Africa and exploration interests in Southern Africa. Homeland continues to seek out interests in additional coal projects in South Africa and neighbouring countries as well as internationally. Homeland is a significant shareholder in Homeland Uranium Inc., a Canadian uranium exploration company focused on projects in Niger and the United States. Homeland also has an aggressive global acquisition strategy with a focus on energy resources. Homeland Energy Group Ltd. is currently traded on the Toronto Stock Exchange under the symbol "HEG" with 274,650,688 common shares issued and outstanding. www.homelandenergygroup.com.

Contact Information