Novusterra Inc. Expands Team with Hire of Farai Gundan as Chief Financial Officer

Rhea-AI Summary

Novusterra Inc. has appointed Farai Gundan as Chief Financial Officer as part of its strategy to prepare for a public listing on a national exchange. The company aims to capitalize on the growing demand for graphene-based products, particularly in energy, defense, and water filtration markets, amid ongoing global supply chain challenges. CEO Andrew Weeraratne emphasized the importance of attracting high-caliber talent to drive growth and shareholder value. Novusterra is focused on innovative materials derived from low-cost coal feedstock.

Positive

• Appointment of high-caliber CFO could enhance financial compliance and strategic direction.
• Strong demand for graphene products could drive growth in key markets.

Negative

• None.

Company makes key hire as it prepares for business expansion and public listing on a national exchange

Demand for graphene-based products and innovation in the energy, defense and water filtration markets is extremely strong as the world experiences supply chain issues for raw materials

MIAMI, FL / ACCESSWIRE / November 15, 2021 / Novusterra Inc. (Private) ("Novusterra" or the "Company"), a rapidly growing company focused on developing and commercializing high-value products and applications from graphene, today announced that it has expanded its team with the hiring of Farai Gundan as the Chief Financial Officer of the company.

Andrew Weeraratne, CEO of Novusterra commented, "As we progress towards a public listing on a national exchange, we have put an emphasis on attracting a very high-caliber team to help drive the business forward. We couldn't be happier that Farai has join our team given her skill set, experiences and passion for creating shareholder value. Her experiences provide a wide breadth of value to our shareholders in regards to financial compliance and reporting but also with helping drive strategic direction and communicating with Wall Street. We have an exciting year ahead as we embark on our growth plans to bring innovative materials to a diverse set of industries!"

About Farai Gundan

Farai is a US-based corporate strategist, communications expert, and thought leader on emerging markets. She has served as Managing Partner for Ivyard from 2015 to October 2021 where she had oversight for client engagements including financial reporting, cash managing, legal and corporate matters and served as liaison between clients and stakeholders. In her role as Managing Partner, she drove business and financial operations and built organic and inorganic revenue growth for the company. She worked at KMPG from 2004 to 2007 where she participated in the successful turnaround of a distressed Big Three auto firm and divestiture of a large multinational automotive maker of trucks and luxury cars from its subsidiary, one of the Big Three automotive companies. She worked in Corporate Finance at Daimler Chrysler and Chrysler LLC, where she obtained extensive financial management experience, including internal and external controls, cash forecasting and management, Sarbanes Oxley compliance, SEC and public reporting.

She earned her Master in Public Administration from Harvard Kennedy School of Government and her Master of Business Administration from Florida A & M University. She also earned a certificate in Sarbanes Oxley Compliance from KPMG in 2014. She is also a prolific writer and has covered Africa extensively for Forbes and Essence. Ms. Gundan has been listed as the #1 Forbes Contributing Writer amongst the top 10 writers for Forbes.com. Some of her work on Forbes include the following: "Billionaires Aliko Dangote, Strive Masiyiwa, Patrice Motsepe Join Fight Against Ebola", "Meet Wale Tinubu, The Man Building Africa's Largest Energy Company", "Sim Shagaya: On Building The Next Big Thing, Konga, Africa's Version of Alibaba". She has written for CNN, covering the continent of Africa as well. Ms. Gundan was named a Young Global Leader by the World Economic Forum and is a Dangote Fellow and is the recipient of the Temple University, Emerging African Leader Award. Ms. Gundan is an Edward S. Mason Fellow at the Harvard Kennedy School of Government. Ms. Gundan serves on the board of advisers for the Harvard Africa Policy Journal and is the Africa Zone Chair for the Alumnae Network of Harvard Women. In 2019, she was named LadyBrille Woman of the Month and in 2015 she was the recipient of the African Women Awards for Media Excellence.

About Novusterra Inc.

Novusterra's mission is to harness the potential to produce high quality graphene from carbon-based deposits to be utilized in high tech application within the energy storage and water filtration marketplaces. The patents the company has secured through a sublicense with American Resources Corporation (NASDAQ:AREC) are designed to make use of an abundant and low-cost feedstock (coal) in an environmentally friendly process.

Special Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Company Contact:

Andrew Weeraratne
CEO and Director
info@novusterrainc.com

SOURCE: Novusterra Inc.

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FAQ

Who is the new CFO of Novusterra and what experience does she bring?

Farai Gundan is the new CFO of Novusterra, bringing extensive experience in corporate finance, financial reporting, and strategic direction.

What are Novusterra's plans regarding a public listing?

Novusterra is preparing for a public listing on a national exchange as it aims for business expansion.

What products does Novusterra focus on?

Novusterra focuses on developing graphene-based products for energy, defense, and water filtration markets.

What current market challenges is Novusterra addressing?

The company is addressing strong demand for graphene products amidst global supply chain issues for raw materials.

What is the significance of the patents Novusterra secured?

The patents secured by Novusterra enable the production of graphene from low-cost coal feedstock in an environmentally friendly manner.