ALEXANDRIA, VA--(Marketwired - Apr 23, 2014) - Marathon Patent Group, Inc. (OTCQB: MARA) ("Marathon"), a patent acquisition and monetization company, announced today that it has added Edward Kovalik as an independent director to its board of directors. The addition brings the total number of directors to five.
Mr. Kovalik is the Chief Executive Officer and Managing Partner of KLR Group, LLC, which he co-founded in 2012. KLR is an investment bank specializing in the Energy sector. Mr. Kovalik has over 16 years of experience in the financial services industry.
Prior to founding KLR, he was Head of Capital Markets at Rodman & Renshaw and headed Rodman's Energy Investment Banking team. Prior to Rodman, from 1999 to 2002, he was a Vice President at Ladenburg Thalmann & Co, where he focused on private placement transactions for public companies. He serves as a director on the board of River Bend Oil and Gas, LLC.
Kovalik commented, "I have known Marathon's CEO, Doug Croxall, for almost a decade during which time I have come to respect both his integrity and work ethic. It was with no hesitation that I accepted his offer to join the Company's board of directors. Over the last year and a half, I have watched Doug and his team create a first class, uniquely scalable patent monetization company. I now look forward to being a part of that team."
Doug Croxall, Chief Executive Officer of Marathon, added, "I'm pleased to welcome Ed to Marathon's board of directors. Our long standing relationship combined with his extensive experience in the financial markets makes him ideally suited to play a key role in shaping the Company's future goals."
About Marathon Patent Group:
Marathon Patent Group, Inc. is a patent acquisition and monetization company. We acquire patents from a wide range of patent-holders from individual inventors to Fortune 500 companies. Our strategy of acquiring patents that cover a wide-range of subject matter allows us to achieve diversity within our patent asset portfolio. We generate revenue with our diversified portfolio through actively managed concurrent patent rights enforcement campaigns. This approach is expected to result in a long-term, diversified revenue stream. To learn more about Marathon Patent Group, visit http://www.marathonpg.com/.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.