Homeland Energy Group Ltd.
TSX : HEG

Homeland Energy Group Ltd.

June 01, 2009 18:04 ET

Homeland Energy Group Makes Changes to Board of Directors

TORONTO, ONTARIO--(Marketwire - June 1, 2009) - Homeland Energy Group Ltd. (TSX:HEG) ('Homeland' or 'the Company') announces that the Company's Chairman of the Board, Tom Griffis, has submitted his resignation effective immediately to allow him to concentrate on several other ventures with which he is involved. The remainder of the board members, management team in Toronto and London and technical teams in South Africa wish Tom all the best and thank him for his time, guidance and dedicated service to moving Homeland from an exploration company to a coal production company.

"We are sorry to see Tom leave but understand that Royal Nickel Corp., CDR Minerals Inc. and Juno Special Situations Fund all require more of his time and attention as they mature and grow under his attention, as did Homeland," commented Stephen Coates, President & CEO. "It was always Tom's intention and the intention of the board when we founded Homeland that our leadership would evolve as the company evolved, allowing for greater technical mining expertise. Tom's contribution in building this company has been invaluable and we look forward to watching him do the same with his other ventures."

"I am very proud to have been part of growing Homeland into the coal producing company it is today from a brown fields site just three years ago," commented Tom Griffis. "There is no doubt that the role of chairman of the board is a full-time occupation at this stage of the company's growth. My niche is the development stage and I look forward to taking my other ventures through this same process."

Jeff Lowe (MBA, CGA, ICD.D) will be appointed to Homeland's board as an independent director. Mr Lowe is a senior corporate finance, capital markets and corporate governance professional with experience acquired across a diverse industry base including mining, consumer products and telecom. Previously, Mr Lowe served as Vice President and Corporate Treasurer for Centerra Gold, and the Alderwoods Group, and Assistant Treasurer for Noranda Inc. Also, he has held senior positions in treasury / corporate finance for Nortel Networks and George Weston Limited and recently launched a start up junior uranium Exploration Company. Mr Lowe has also led a corporate turnaround and restructuring culminating in the negotiation of complex debt facilities. Jeff is a Certified General Accountant and a member of the Institute of Corporate Directors.

"I am excited to be part of a Canadian success story to bring value to our shareholders, by leveraging our successful production of coal in South Africa, fostering prudent growth for Homeland Energy as well contributing towards meeting a growing demand for energy production in South Africa," commented Jeff Lowe.

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