Astra Energy Inc.'s New CEO Immediately Pays Off Convertible Note Ahead of Maturity Date

Rhea-AI Summary

Astra Energy Inc.'s new Chairman and CEO, Ron Loudoun, prepaid the only convertible note on the balance sheet to avoid dilution and protect shareholder interest. Loudoun's expertise in business development and operational leadership will drive efficiency and value creation. Astra is poised for growth with the opportunity to present its technologies to potential customers.

Positive

• Ron Loudoun prepaid the only convertible note on the balance sheet to avoid dilution and protect shareholder interest
• Loudoun's expertise in business development and operational leadership will drive efficiency and value creation
• Astra has the opportunity to present its technologies to a backlog of potential customers

Negative

• None.

SAN DIEGO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- via IBN -- Astra Energy Inc. (OTCQB: ASRE) (“Astra” or the “Company”) today announces that the company's new Chairman and CEO prepaid the only convertible note on the balance sheet to avoid any potential dilution to the company’s stock and to protect shareholder interest.

Mr. Loudoun has extensive experience in business development and operational leadership as well as an innate ability to achieve common goals that advance aligned strategic priorities for the companies he is involved in. He brings expertise that will ensure that efficiency, focus, and a drive toward creating value are embedded in all aspects of organizational decision-making.

"Astra is at a very exciting operational inflection point. Years of concerted effort and business development have brought the company to a point where both the Holcomb and Regreen technologies can be presented to a backlog of potential customers. With manufacturing in place, the timing for this company to advance could not be better. We are looking forward to a very rewarding time for all stakeholders," said Ron Loudoun, CEO and Chairman.

About Astra Energy Inc.
Astra Energy Inc. is an integrated solutions provider investing in and developing clean and renewable energy projects in markets where demand is high, supply is limited and there is an opportunity to address other imminent market needs.

Astra’s corporate strategy is rooted in securing technologies and assets; identifying viable market opportunities; and bringing together resources, expertise, technology, and defined action plans to execute first-in-class projects that benefit communities, local economies, the planet, and the Company’s investors.

Its goal is to create a more secure and sustainable power sector that supports the Company’s purpose, mission, and values to transform the economic, environmental, and social landscape for generations to come.

For more information on Astra Energy Inc., visit the Company’s website at www.astraenergyinc.com.

CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements. In evaluating these forward-looking statements, readers should consider various factors, including the Company’s ability to change its direction, its ability to keep pace with new technology and changing market needs, and the competitive environment of its business. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement.

Corporate Communications:
Heidi Thomasen
IR@astraenergyinc.com
1-800-705-2919

Wire Service Contact
InvestorWire (IW) 
Los Angeles, California
www.InvestorWire.com
212.418.1217 Office
Editor@InvestorWire.com

FAQ

What did Ron Loudoun do to protect shareholder interest?

Ron Loudoun prepaid the only convertible note on the balance sheet to avoid dilution and protect shareholder interest.

What expertise does Ron Loudoun bring to Astra Energy Inc.?

Ron Loudoun has expertise in business development and operational leadership.

What opportunity does Astra Energy Inc. have right now?

Astra has the opportunity to present its technologies to a backlog of potential customers.