REPEAT - Clean Power Capital Announces AGMS Results and Appointment of Raghu Kilambi as Chief Executive Officer

March 16, 2021 7:30 AM EDT
Get Alerts MOVE Hot Sheet
Price: $5.48 -3.01%

Overall Analyst Rating:
    BUY (= Flat)

Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

VANCOUVER, British Columbia, March 16, 2021 (GLOBE NEWSWIRE) -- Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). The Company is pleased to announce that all matters submitted to shareholders for approval as set forth in the Company’s Notice of Meeting and Information Circular, both dated February 8, 2021, were approved at the Company’s Annual General and Special Meeting (the “Meeting”) held on Monday, March 15, 2021.

At the Meeting, the shareholders approved and ratified the Company's amended and restated investment policy (“Investment Policy”) to include the renewable energy sector as an area of investment focus for the Company. The shareholders also elected the board of directors, comprised of Mr. Johannes (Theo) van der Linde, Mr. Brendan Purdy, Mr. John Martin and Mr. Raghunath (Raghu) Kilambi.

Following the Meeting, Mr. Joel Dumaresq resigned as the Company’s Chief Executive Office (“CEO”) and Mr. Kilambi was appointed as the CEO and President. Mr. Dumaresq will continue to serve as the Company’s interim Chief Financial Officer. The Company wishes to thank Mr. Dumaresq for his many contributions to the Company while he served as its CEO.

Raghu Kilambi is an experienced technology investor and entrepreneur with over 25 years of global business experience in public and private investments, building businesses and creating shareholder value. He is currently CEO and CFO of PowerTap Hydrogen Fueling Corp., an investee company of Clean Power Capital Corp. He is also a co-founder and advisor to the USA SPAC : Goal Acquisitions Corp. Raghu's experience with investments in emerging technologies will be an asset for the Company as it continues to seek additional investment opportunities in the following industries, in accordance with the Company’s Investment Policy that was approved and ratified at the Meeting: (i) renewable energy, which may include, without limitation, hydrogen & fuel cell technologies, wind power, solar power and geothermal power; and (ii) bio-medical, pharmaceutical, and naturopathic sectors, which may include medical or recreational cannabis.

He has raised over $1 billion of equity and debt capital for private and public companies in the USA and Canada and been involved in many M&A acquisitions and exits. Raghu’s experience includes operational management, financial reporting, corporate governance corporate finance, public offerings in USA, strategic acquisitions and investments, international business development and corporate restructuring in sectors including technology, telecom and clean technology.

Most recently, Raghu was Vice Chairman & CFO of California-based ConversionPoint (e-Commerce software/services) which was sold in 2 M&A exits in late 2019 and early 2020 after filing a Nasdaq IPO prospectus for an Oppenheimer-led IPO in 2019.

In addition, Raghu was previously the Co-Founder, CFO and Chief Strategy Officer of a leading VC-backed first generation application hosting company that grew from startup to $140 million in annual revenues and a peak Nasdaq market capitalization of over US $2 billion.

Raghu has also been an investor in companies that were acquired by Yahoo, eBay and CGI. He graduated with Great Distinction with a Bachelor of Commerce and a Graduate Diploma in Public Accounting from McGill University, and qualified as a Canadian Chartered Accountant (inactive).

The Company also announces that it has entered into an investor relations advisory services agreement with 1830012 Ontario Limited, operating as Circadian Group (“Circadian”) dated March 10, 2021 (the “IR Agreement”). Under the terms of the IR Agreement, Circadian will assist in providing the Company with a customized positive investment image and communicate that image to the investment community including, but not limited to, individual investors, family offices, institutional investors, hedge and other funds, broker dealers, equity trading firms and the public at large. As compensation for the services to rendered under the IR Agreement, the Company will pay $600,000 CAD over an initial term of 6 months. At the Company’s discretion, it may increase its cash marketing budget by up to $250,000 CAD.

The Company has also retained Mountain Capital Corp. (“MCC”) to provide strategic digital media services, marketing and data analytics services pursuant to a master services agreement dated March 8, 2021 (the “Marketing Agreement”). MCC will provide the Company with a three-month marketing campaign that will focus on content development, sponsored social media postings, sponsored article placement on select direct publisher sites and analytical reporting services. As compensation for the services rendered under the Marketing Agreement, the Company will pay $150,000 USD.

ABOUT CLEAN POWER CAPITAL CORP.

Clean Power is an investment company, that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

PowerTap Contact
Raghu Kilambi
raghu@hydrogenfueling.co

PR Contact Vito Palmeri AMW PR
c: 347.471.4488 | o: 212.542.3146
vito@amwpr.com

ON BEHALF OF THE CLEAN POWER CAPITAL CORP. BOARD OF DIRECTORS

“Raghu Kilambi”

Raghu Kilambi
CEO
+1 (604) 687-2038
info@cleanpower.capital

Learn more about Clean Power by visiting our website at: https://cleanpower.capital/

Notice Regarding Forward Looking Information:

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Clean Power. Some assumptions include, without limitation, the development of hydrogen powered vehicles by vehicle makers, the adoption of hydrogen powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This press release contains forward- looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.




Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Globe Newswire, Press Releases

Related Entities

IPO, SPAC