Former Managing Director at Global Investment Bank Beacon Securities, Mr. David Suda Takes on Role as CEO of American Future Fuel

Rhea-AI Summary

American Future Fuel Corporation (CSE: AMPS, OTCQB: AFFCF) announced the appointment of Mr. David Suda as Chief Executive Officer and Director, effective April 21, 2023. Mr. Suda, with 15 years of capital markets experience, has successfully raised over $10 billion for various companies. He expressed enthusiasm for leading the company, which focuses on the Cebolleta Uranium Project located in New Mexico's Grants Mineral Belt, known for contributing around 37% of the U.S.'s uranium production. The project has a strong history of uranium production and potential for expansion due to numerous unexplored historical drill holes. Former CEO Mr. Luke Montaine will step down on the same date, with the board acknowledging his contributions.

Positive

• Appointment of David Suda as CEO expected to bring strong capital markets experience.
• Cebolleta Uranium Project has significant potential for exploration and growth in uranium resources.

Negative

• None.

VANCOUVER, British Columbia, April 21, 2023 (GLOBE NEWSWIRE) -- American Future Fuel Corporation (CSE: AMPS, Frankfurt: K14, WKN: A3DQFB, OTCQB: AFFCF) (the “Company”, or “American Future Fuel”) is please to announce that, effective as of April 21, 2023, Mr. David Suda will assume appointments as both, Chief Executive Officer, and Director of the Company.

Mr. Suda brings 15 years of capital markets experience to the Company, along with strong relationships and expertise in corporate strategy, capital raising, sustainability performance and marketing. Mr. Suda is a finance professional that has previously served as Managing Director at both, Beacon Securities Limited, a global investment bank, and Paradigm Capital, a research driven investment dealer. He has been instrumental in raising over $10 billion for private and public companies across both roles. Throughout his career in the capital markets, Mr. Suda established strong relationships with institutional managers. Mr. Suda is a graduate, with honours, of York University where he earned a bachelor’s degree in Environmental Studies.

“I am excited to lead a company that has tremendous potential and a clear path to advancing to the next level. Our Cebolleta Project is in the prolific Grants Mineral Belt that has accounted for approximately 37% of all uranium production in the United States. Cebolleta is an advanced project with substantial past uranium production and several historically delineated deposits that we believe can be efficiently converted into 43-101 compliant resources. Furthermore, several hundred historical mineralized drill holes from the southern half of the property have not been accounted for and provide a significant opportunity for growth. I look forward to working with the team on the ground, with the goal of building a significant player in the United States uranium sector,” Stated Mr. Suda, CEO of the Company

Mr. Luke Montaine, the Company's current CEO will step down, effective the same date. The Board wishes to thank Mr. Montaine for his service as CEO.

ABOUT AMERICAN FUTURE FUEL

American Future Fuel Corporation is a Canadian-based resource company focused on the strategic acquisition, exploration and development of alternative energy projects. The Company holds a 100% interest in the Ceboletta Uranium Project, located in Cibola County, New Mexico, USA, and situated within the Grants Mineral Belt, a prolific mineral belt responsible for approximately 37% of all uranium produced in the United States of America. American Future Fuel’s Ceboletta Uranium project is an advanced exploration project.

On behalf of the Board of Directors,
AMERICAN FUTURE FUEL CORPORATION

David Suda, Chief Executive Officer

For further information, contact:

David Suda at info@americanfuturefuel.com

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

FAQ

Who is the new CEO of American Future Fuel (AFFCF)?

David Suda has been appointed as the new CEO of American Future Fuel effective April 21, 2023.

What is the Cebolleta Uranium Project?

The Cebolleta Uranium Project is an advanced exploration project located in Cibola County, New Mexico, situated within a region that accounts for approximately 37% of uranium production in the U.S.

What experience does David Suda bring to AFFCF?

David Suda has 15 years of capital markets experience and has raised over $10 billion for private and public companies.

When did the CEO transition occur at American Future Fuel?

The CEO transition to David Suda took place on April 21, 2023.