EXOUSIA ADVANCED MATERIALS, INC. INITIATES CHANGES TOWARD GREEN TECHNOLOGY
New Board Member Elected and Chairman, CEO Resigns
NEW YORK, NY, September 9, 2010 -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU .OB - www.exousiacorp.com ), which manufactures advanced eco-friendly industrial products for worldwide infrastructure applications, and sells and distributes fuels for commercial and residential customers, initiated a restructuring of its management team that will allow the Company to move forward as a green technology company. Accordingly, EXOU has announced that the Board of Directors has elected Robert A. Roddie as a new Director of the company. In addition, Mr. Roddie will continue to serve as the Company’s Chief Financial Officer, the position he has held since the acquisition of Evergreen Global Investments in January 2010. Prior to that, he served as the company’s Senior Vice President, Chief Operating Officer and Chief Financial Officer since his hire in May 2008.
On September 2, 2010, J.Wayne Rodrigue, the Company’s President, CEO and Chairman of the Board tendered his resignation from those positions. As part of such resignation, Mr. Rodrigue has waived any claim for past compensation including accrued but unpaid salaries and unexercised stock options. The Company had accrued $231,743.25 in accrued but unpaid compensation owed to Mr. Rodrigue through June 30, 2010. Also on that date, Robert L. Brindley tendered his resignation as a member of the Board of Directors.
The Board of Directors announced it will immediately begin the search for a new CEO who has green energy experience, experience in the capital markets, and extensive professional management experience.
Contact Information: Bob Roddie, CFO, Telephone: (212) 796-4333
About Exousia Advanced Materials, Inc.
Exousia, through its subsidiary Evergreen, is the provider of a variety of fuel products to thousands of customers in the Northeastern part of the United States. It is rapidly migrating its entire product base to include Green Energy attributes. Exousia manufactures advanced eco-friendly resins, engineered particles, high-performance coatings and structural products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The company serves both domestic and international markets. Additional information on Exousia can be found at http://www.exousiacorp.com .
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