Update on Thermal halt since July 22.
News:"8/7/2009 8:00 PM - Canada NewsWire
OTTAWA, Aug. 7, 2009 (Canada NewsWire via COMTEX News Network) --
Thermal Energy International Inc, (TSX-V:TMG) (www.thermalenergy.com) announced today that Tim Angus has resigned as President and CEO and from the Thermal Energy board of directors for personal reasons. William Crossland, a Thermal Energy board member, has been appointed as President and CEO to fill the vacancy left by Mr. Angus' resignation. Mr. Angus has committed to work with Mr. Crossland to ensure an orderly transition and will also continue to assist the company with a number of key sales initiatives and strategic priorities going forward.
Mr. Crossland has over 20 years experience with a wide variety of renewable energy, alternative energy and cleantech companies and has been an active member of the Board of Directors of Thermal Energy since May 2007. Commenting on the appointment Mr. Crossland said "I am very pleased to be increasing my involvement with Thermal Energy at this stage in its development."
The Board of Thermal Energy would like to take this opportunity to thank Mr. Angus for the meaningful contribution he has made to Thermal Energy over the last 5 years. Under Mr. Angus' leadership Thermal Energy has added significantly to its product offerings and capabilities, customer base and geographic scope providing the company a strong base from which to grow..."
THIS followed the UPDATE:
"
Thermal Energy works to lift halt
2009-08-07 16:36 ET - News Release
Mr. William Crossland reports
Thermal Energy International Inc.'s securities were halt traded by the TSX Venture Exchange on July 22, 2009 (see Stockwatch) pending clarification of the company's affairs. The company is unable to provide further information at this time, but wishes to advise that it has been working diligently with the Exchange to have all matters resolved in a timely fashion. In this regard, pursuant to the exchange bulletin in Stockwatch July, 22, 2009, the company's securities continue to be halted pending clarification of company affairs."
NOTE: Mr Crossland's name already at work? IMO, the halt will be lifted soon.
g.p.
