Homeland Energy Group Ltd.
TSX : HEG

Homeland Energy Group Ltd.

April 07, 2009 06:30 ET

Homeland Energy Group Announces Appointment of CFO

TORONTO, ONTARIO--(Marketwire - April 7, 2009) - Homeland Energy Group Ltd. (TSX:HEG) ('Homeland' or 'the Company') is pleased to announce the appointment of Andrew Gottwald, Chartered Accountant as the Company's Chief Financial Officer starting April 15, 2009. Mr. Gottwald's appointment follows the resignation of Mr. Stephen Woodhead, Company CFO since March 2007.

Mr. Gottwald is a Chartered Accountant with over ten years' experience in the financial services industry. Prior to joining Tahera Diamond Corporation as Controller in 2000, Mr. Gottwald was a financial analyst with Arthur Andersen LLP. Promoted to Chief Financial Officer in 2001 and Executive Vice President Finance in 2007, Mr Gottwald managed the transition of Tahera's Jericho diamond mine from its exploration stage through development and into commercial production, negotiated and completed 16 equity and two debt financings totaling over $220 million, and developed and implemented accounting, reporting and procedural systems appropriate for the growth of the company and ongoing regulatory and accounting changes. Mr. Gottwald also holds a degree in Statistical Sciences from the University of Western Ontario.

Welcoming Mr. Gottwald, Homeland CEO Stephen Coates stated "Andrew brings a wealth of experience in mining finance, mine development and in the Canadian public company sector. I look forward to working with Andrew to continue to build and develop Homeland. On behalf of the Homeland Board and my colleagues, I thank Stephen Woodhead for his commitment as a key part of the Homeland team. His background in mining, knowledge of South Africa and valuable advice has played a large part in the success of this company. Although Stephen is leaving the mining industry altogether, I would welcome his experience, dedication and skills to any venture."

"Homeland has made impressive gains over the past two years and I have been pleased and honoured to be a part of the Homeland team," commented Mr. Woodhead, "Andrew Gottwald joins this dynamic Company as it transitions from the development stage to join the ranks of the producers and brings a critical skill set that will help Homeland make this transition a smooth one. I would like to thank the Homeland team for my experience over the last two years as I move on to ventures outside the mining industry."

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 seek out interests in additional coal projects in South Africa and neighbouring countries as well as in the United States. Homeland is a significant shareholder in Homeland Uranium Inc., a Canadian uranium exploration and development 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.

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