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| reWORKS Environmental Corp. Announces New CFO & Reprices Incentive Stock Options |
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Download this press release (PDF 8 KB)
Toronto, Ontario - June 29, 2007 - reWORKS Environmental Corp. ("reWORKS") (TSXV:REW) is pleased to announce the appointment of Marcel Urbanc, CA, as its interim Chief Financial Officer and Corporate Secretary. Mr. Urbanc obtained his CA designation in 1985 and is an independent financial consultant. He is currently serving in a part-time capacity as the CFO of AlphaRx Inc., a publicly traded company on the OTC Bulletin Board in the United States.
Marcel brings public company accounting, regulatory reporting and administrative experience to reWORKS and will be primarily responsible for corporate, financial and administrative functions at reWORKS. We look forward to Marcel making a significant contribution at the corporate and operating levels of the company," said Don Green, Chairman and Chief Executive Officer of reWORKS.
reWORKS also announces at the same time that David Prue, its Chief Financial Officer, will be leaving the company. "David provided a valuable contribution to the founding and start-up phase of reWORKS and the board wishes to thank David for his considerable efforts," said Mr. Green. Mr. Prue has indicated he will be pursuing other business and personal interests.
reWORKS' board of directors is pleased to also announce that the exercise price of the incentive stock options granted to its officers, directors and consultants has been increased to $0.217 per share from the $0.20 per share price originally specified in reWORKS' press release dated June 26, 2007. All other terms and conditions of such options remain the same.
reWORKS, through its wholly-owned subsidiary, reWORKS Inc., manufactures and markets environmentally friendly organic fertilizers and soil supplements. reWORKS has developed, refined and commercialized a green process that uses red wiggler worms to convert organic food waste into high quality worm castings, the prime ingredient in the company's organic fertilizer products. reWORKS is the North American leader in commercializing this indoor process ensuring superior quality control. The major markets for reWORKS' environmentally friendly products include golf courses, lawn care, greenhouses, wineries, nurseries and agriculture. reWORKS Inc. is headquartered in Toronto, Ontario.
For a complete description of the business of reWORKS and other information, please review the documents filed on SEDAR (www.sedar.com).
For further information, please contact:
Donald Green, Chairman and CEO
reWORKS Environmental Corp.
Tel: (905) 634-4191
Email: dmgreen@allstream.net
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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