$TNEN - FANTASTIC NEWS - True North Energy Corp. Announces Appointment of CEO and New Strategy
Press Release | 04/01/2021
DALLAS, TX / ACCESSWIRE / April 1, 2021/ True North Energy Corp. (OTC PINK:TNEN)
True North Energy Corp.("TNEN") is pleased to announce that effective March 22, 2021, Nicolò Golia Bedendo was appointed Chief Executive Officer and a Director of the Company to embark on a diversification strategy, Fintech Banking, offering technologically more advanced services than those of traditional banks, higher levels of personalization and interconnections with other payment sectors.
Mr. Bedendo plans to pursue this strategy through new subsidiaries to be formed for operations in the European and US markets.
In conjunction with this geographical division, Mr. Michele Antonicelli, a noteholder of $400,000 in the Company, has agreed to waive payment of this existing debt to allow for equity opportunities for capital raises benefiting the new to be formed US subsidiaries.
Mr. William Simmons, whom Mr. Bedendo replaces, said, "Mr. Bedendo is an ideal candidate to take the Company to the next level and explore the fintech strategy." Mr. Simmons is retiring from his role as CEO and President and will remain on the Company's Board of Directors.
About True North Energy Corporation Traditionally, TNEN engaged in the identification, acquisition and development of oil and gas properties, through its subsidiary, TN Energy Corp, a Texas Corporation, the company holds overriding royalty interests on oil and gas properties located in Colorado and Oklahoma. TNEN expanded with the acquisition of Box 23 Ltd. and its 51 % subsidiary, 3 Store Web S.r.l., which served as a seller of SIM cards and services in Italy, which ceased operations after the cancellation of its contract with the SIM card supplier. With the appointment of Mr. Bedendo, TNEN embarks in a diversified strategy to pursue the Fintech banking industry both domestically and abroad.
