Amazing Energy Announces Corporate Governance Updates - Appoints New Chairman of The Board of Directors
Sep. 12, 2018
AMARILLO, TX / ACCESSWIRE / September 11, 2018 / Amazing Energy Oil and Gas Co. (OTCQX: AMAZ ) ("Amazing," "Amazing Energy," or the Company") today announced strategic corporate governance updates in an effort to best position the Company for future capital markets, shareholder value, and development endeavors.
Current President and Chairman of the Board, Mr. Jed Miesner will strategically transition from his current positions to focus efforts as the Company's Acquisition Manager. Mr. Tony Alford, a current Director of the Company and a Director since 2015, will become Amazing's new Chairman of the Board of Director. Additionally, the Company intends to appoint two new independent Directors to its Board to strengthen corporate governance.
Amazing also announced that it has established mechanisms to cancel its voting Preferred A shares, it has hired a new transfer agent and put into place a new accounting system as the Company seeks to qualify as an accelerated filer with the SEC.
''After consideration of how to best optimize corporate governance, Mr. Miesner has decided change roles and prepare Amazing for upcoming growth including our plans for a National Exchange listing,'' stated Will McAndrew, Amazing Energy's CEO. ''Mr. Alford's record as both a Director and manager speaks for itself and his appointment provides Amazing with the optimal candidate for succession, something which we are incredibly grateful for. I would like to personally thank Jed for his ongoing contributions to Amazing Energy. His knowledge and professionalism have helped achieve several important strategic and financial milestones. As such, we are well positioned to further expand our production base, reserves and cash flows as Jed focuses on strategic acquisition activity, something that maximizes the utility of his skillset and allows us to provide optimal shareholder value on a go-forward basis.''
Mr. Tony Alford has over thirty years of executive leadership and is the Founder and President of PBA Consultants, Inc., since April 1996, a consulting firm specializing in tax savings and cost reduction services, for many of the fortune 500 companies across the USA. Mr. Alford is also the Founder and CEO of Alford & Associates Inc., since 1993, a company which makes investments in real estate investment properties and natural resource companies. Mr. Alford attended Elon College in North Carolina and Liberty University, in Virginia where he studied business management and marketing. In 2009-2010 Mr. Alford was appointed as a director of Revett Minerals Company and was part of the Revett team that listed on NYSE. He currently serves as a local board member for Wells Fargo Bank of NC, and several other nonprofit organizational boards.
Mr. Tony Alford commented, "Taking the Board Chair position at Amazing Energy, a company with which I am familiar, is an incredible honor. Mr. Miesner has provided a meaningful asset base, controlling the rights within 70,000 acres in the prolific Pecos County area of the Permian Basin and has put together an equally remarkable team of talent at the firm. In positioning the Company for a National Listing, Amazing Energy understands that corporate governance optimizations need to be made and we are pursuing that today. We fully intend to stay the path set by Mr. Miesner and will be doing so with the intention of maximizing shareholder value".
About Amazing Energy Oil and Gas
Amazing Energy Oil and Gas, Co. is an independent oil and gas exploration and production company based in Amarillo, TX. The Company operates leaseholds in the Permian Basin of West Texas, where it has rights within a 70,000-acre leasehold in Pecos County, TX. The Company primarily engages in the acquisition and exploitation of oil and natural gas properties with a focus on well-defined plays containing stacked pay zones. More information may be found on Amazing Energy's website at www.amazingenergy.com.
This news release contains forward-looking information including statements that include the words "believes," "expects," "anticipate," or similar expressions. Such forward looking-statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof. Information concerning these and other factors can be found in the Company's filings with the SEC, including its Forms 10-K, 10-Q, and 8-K, which can be obtained on the SEC's website at http://www.sec.gov.
Investor Relations Contact:
SVP Natural Resources
Email: Web: www.mzgroup.us
SOURCE: Amazing Energy Oil and Gas Co.https://www.accesswire.com/511774/Amazing-Energy-Announces-Corporate-Governance-Updates-Appoints-New-Chairman-of-The-Board-of-Directors