Solegear Bioplastics Inc.
TSX VENTURE : SGB

Solegear Bioplastics Inc.

October 05, 2016 09:00 ET

Solegear Appoints Don Holmstrom as Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 5, 2016) - Solegear Bioplastic Technologies Inc. (TSX VENTURE:SGB) ("Solegear" or the "Company") announced today that it has appointed Mr. Don Holmstrom to serve as Executive Vice-President & CFO of the Company, replacing Mr. Gary Clifford whose resignation has concurrently been accepted by the board.

With over 20 years of executive management experience, Mr. Holmstrom has raised close to $100 million in capital for businesses he has operated as well as completed more than 180 M&A transactions representing over $750 million in transaction value.

"In preparation of closing the previously announced financing and to help manage our accelerating growth, I am pleased to be supported by Mr. Holmstrom, who brings additional strong experience to the team," said Paul Antoniadis, Solegear's CEO. "Increased consumer demand and regulatory pressure to remove potentially toxic additives, like BPAs and phthalates, are leading retailers and consumer brands to proactively seek out safer alternatives, like our bioplastics. This is amplifying the demand for plant-based materials in market verticals such as food packaging and everyday household goods."

The Company thanks Mr. Clifford, who remains an active shareholder, for his many contributions to the business.

About Solegear Bioplastic Technologies Inc.

Solegear Bioplastic Technologies Inc. (TSX VENTURE:SGB) is an innovator in the field of next generation bioplastics made from annually renewable plant-based sources. Committed to the principles of Green Chemistry, Solegear is driven by its mission to create healthier, safer and stronger communities by fundamentally changing the way plastics are made.

Solegear's proprietary bioplastic formulations are designed to meet today's social and corporate requirements to lower carbon emissions, reduce waste and remove toxicity typically associated with traditional petroleum-based plastics. Together with its partners, Solegear custom engineers, produces and distributes its high-performance bioplastics as resin, sheets and finished goods with some of the highest percentages of renewable, plant-based materials currently available in the industry.

For more information: www.solegear.ca and www.mygoodnatured.com.

On behalf of the Company:

Paul Antoniadis, Chief Executive Officer and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Other than as required under securities laws, we do not undertake to update this information at any particular time.

Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.

Contact Information

  • Solegear Bioplastics Inc.
    Paul Antoniadis
    Chief Executive Officer and Director
    604-998-4058

    Investor Contact:
    Caleb Jeffries
    Kin Communications
    1-866-684-6730
    SGB@kincommunications.com

    Media Contact:
    Elisha McCallum
    FleishmanHillard Vancouver
    778-668-0185
    Elisha.McCallum@fleishman.ca