EnerSpar announces new Director and updates on alternative transaction
Calgary, Alberta--(Newsfile Corp. - August 17, 2018) - Mr. Jay Richardson, C.E.O. of EnerSpar Corp. (TSXV: ENER) (FSE: 5E0) ("EnerSpar" or the "Company") is pleased to announce the election of Mr. Donal Carroll CPA CMA to its Board of Directors. Mr. Carroll is an experienced senior financial executive with extensive experience in mergers and acquisitions and presently serves as interim CFO of FSD Pharma Inc., a large indoor hydroponic Cannabis producer in Cobourg, Ontario. Mr. Carroll also is a director of Bird River Resources Inc., World Class Extractions Inc., and Alkaline Springs Inc.
Mr. Carroll will also be appointed Chair of the Company's Audit Committee making it comprised entirely of Independent Directors.
Mr. Richardson welcomed him to the Board by saying "Donal's addition to the Board is a significant strengthening in several areas and I look forward to working with him as we move forward on multiple fronts."
Mr. Carroll was granted 100,000 options to acquire EnerSpar shares at a price of $.055 for a period of 3 years, expiring August 15, 2021 from the Company's Incentive Option Plan.
At the same time, Mr. Richardson said "We continue to pursue the possibility of an alternative transaction and are now focused on two worthy propositions being put forward that we find particularly exciting. While we have not yet entered into a Letter of Intent, we are optimistic and assure our shareholders and other interested parties that any such action would be accompanied by an immediate press release to ensure timely and uniform disclosure to all."
EnerSpar is a TSX Venture Exchange Tier II listed exploration company focused on industrial minerals oriented to today's and future energy requirements. Potassic feldspars are especially significant as a hardening agent in today's solar panels and tomorrow's solar shingles.
ON BEHALF OF THE BOARD OF DIRECTORS:
Jay Richardson, Chief Executive Officer and Director
Toronto Office: 416-410-JAYR .
Neither the TSX Venture Exchange Inc. ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way passed upon the merits of the transactions described herein and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release.
This news release may contain certain "forward looking statements". These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of the Company No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits EnerSpar will derive therefrom.