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
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