SCOTTSDALE, AZ, Jun 11, 2009 (MARKETWIRE via COMTEX) -- Northern Explorations Ltd. (NXPN) ("Northern," "Norex" or the "Company") is pleased to announce the appointment of Stephen Mohan, Alan Lomax and Darrin Holman to the Board of Directors.
Mr. Mohan brings an extensive background in the area of business development with a primary focus on the subject of Strategic Growth. During his tenure as Vice President for Business Development at Frost & Sullivan, Stephen raised the bar on industry performance, achieving record revenue and profit margins through the development of calculated efforts that led to a notably successful 22% increase during the very first year of program implementation. Mr. Mohan holds a degree in communications from Bridgewater State College, Massachusetts.
Mr. Lomax is a highly experienced financial consultant specializing in organizational matters such as regulatory compliance and corporate structure. He graduated from the University of Texas with an economics degree along with a period of additional studies conducted abroad while living in Spain. He brings extensive experience in the area of LBOs, MBOs and derivative actions involving public companies. Recently, Alan spearheaded the cleanup and restructuring of over 30 public companies in order to preserve and initiate growth in shareholder value.
Mr. Holman has an extensive background in the development of alternative energy projects, specializing in the wind and cogeneration sectors. He is an accomplished project planner and manager with real world experience in the development of large scale construction projects including megawatt class wind farms. With his involvement, Norex is able to accurately assess the viability of future opportunities in the alternative energy sector towards a growing commitment to an innovative clean energy portfolio.
Company President & CEO Mark Schaftlein comments, "These appointments build dramatically upon our existing strengths and bolster our abilities in many ways. This new advisory level of compliance oversight ensures the Company will grow wisely and with proper diligence. These gentlemen bring years of specialized information and relationships with key industry individuals along with access to insights that will assist us greatly as we grow our Clean Energy portfolio. With these additions to the Board we have taken an outstanding step forward in our ability to quickly realize and execute our strategic aims."
The Company is a reporting issuer providing public disclosure as required by the securities and exchange act of 1934. Complete details of these appointments will be filed publicly where subject to and as required by law under the regulations of the Securities and Exchange Commission (SEC).
ABOUT NOREX ENERGY (NORTHERN EXPLORATIONS LTD.) (NXPN)
Norex Energy (Northern Explorations Ltd.) is an energy exploration Company currently developing natural gas projects across North America. The Company has acquired working interests in natural gas assets located in Texas as well as projects in California and Alberta, Canada. The projects contain documented gas reserves and associated plant, pipeline and infrastructure currently in place.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD Norex Energy (Northern Explorations Ltd.) - - - - - - - - - - - - - - - - - - Mark Schaftlein President, CEO