Board of Directors continue their transformation of CAVU Resources by appointing Bob Silver as Executive Chairman, Russ Sinacori as COO, and Kevin Vincent Cox as Chief Executive Officer

Rhea-AI Summary

CAVU Resources has announced a significant leadership change with the appointment of Kevin Vincent Cox as the new Chief Executive Officer, succeeding Robert Demes. Bob Silver transitions to Executive Chairman, while Russ Sinacori takes on the role of Chief Operating Officer. Cox, who has a robust track record, aims to drive the company's vision in building, acquiring, and advancing companies across various sectors. He is personally investing in the company, accepting a unique options package to align his compensation with shareholder interests.

Positive

• Appointment of Kevin Vincent Cox as CEO brings extensive experience in transforming companies.
• Cox's personal investment in the company indicates strong confidence in CAVU's future.
• Leadership change includes seasoned executives to enhance strategic direction.

Negative

• Departure of Robert Demes may raise concerns about continuity in leadership.

CHARLOTTE, N.C., April 16, 2021 (GLOBE NEWSWIRE) -- CAVU Resources Board of Directors announces another major milestone in its transformation of CAVU into a substantial platform holding company. Bob Silver will be taking on the role of Executive Chairman, Russ Sinacori will remain as President of Sinacori Builders but will also step into the role of Chief Operating Officer to replace Robert Demes who is no longer with the company, and Kevin Vincent Cox was elected by the Board to become Chief Executive Officer.

“Kevin’s track record of success is impressive. We had shared our vision with him in the past, so when he approached us after leaving his previous role, we were thrilled someone with his credentials was interested in working with us to execute on our vision. Even more impressive to us was he backed his credentials up with a willingness to leverage personal assets to help capitalize the company further. He even agreed to accept an options package at a premium of $.07 per share.

His record of success, belief in our vision, and willingness to contribute to the business beyond just time and expertise, made my job and that of my fellow board members easy. We knew he was the ideal person to drive our transformational strategy to build, acquire, invest, and advance companies and products that help people in their own personal pursuit of happiness, and we know he will hit the ground running.” – Bob Silver, Executive Chairman

Kevin Vincent Cox studied performance maximization at Harvard, is a licensed attorney, earned a JD from the University of Tulsa, an MBA in finance from Oral Roberts University, and a BS in management from Oral Roberts University.     

Kevin transformed Connect Ship, a wholly owned technology subsidiary of UPS, from a small relatively unknown company into an industry titan growing enabled revenue from $300M to $6 Billion during his tenure.

Kevin created the vision behind Logistyx Technologies’ formation, raised the capital to execute the roll-up, and co-founded Logistyx with Kidd & Company and McClarty Capital. As part of the formation of Logistyx, he led the acquisition of more than 14 different entities across the United States, Europe, and Asia. Logistyx has become the dominant player in the transportation execution technology space.

Recently, Kevin joined a small financial services firm driving their strategy to become a large regional organization. He led 4 acquisitions, transformed the company into Adaptation Financial Advisors which became an independent SEC Registered Investment Advisor adding $140M in Assets Under Management.

“Bob has a great vision to build, acquire, invest, and advance companies and products that help people live, learn, socialize, endure, and enjoy their own personal pursuit of happiness. Not only do I know we can make this vision become a reality; I know we can do so while driving tremendous growth in shareholder value. Bob’s vision combined with my ability as a transformational leader to strategically grow companies from small unknown players into industry leading players puts us in an ideal position to succeed. I don’t just say it, I believe it, agreed to assist in capitalizing it, and have tied my long-term compensation to it.” Kevin Vincent Cox, Chief Executive Officer, CAVU Resources, Inc.

CAVU RESOURCES, INC

CAVU is a platform holding company dedicated to building, acquiring, investing in, and advancing companies and products that help people live, learn, socialize, endure, and enjoy their own personal pursuit of happiness. The firm has established five major verticals for accomplishing this effort – real estate, technology, education, entertainment, and health and wellness. For more, visit www.cavuresource.com

SINACORI BUILDERS

Sinacori Builders, a CAVU Resources company, is a technology-driven real estate company with more than 13 million dollars in assets and over 11 million dollars in secured contracts/closings in 2021. This wholly owned CAVU subsidiary has a strong foothold in Charlotte, North Carolina, and is expanding its footprint throughout the Southeast. The Company plans on growing its brand and enhancing shareholder value by leveraging its connections with the country's top builders to become a national player. To learn more, visit  www.sinacoribuilders.com

FORWARD-LOOKING STATEMENTS:

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations and are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell its products; the expected benefits and efficacy of the Company's products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and, the Company's business, research, product development, marketing and distribution plans and strategies.    

Company Contact Info:

Email: info@kushAmerica.com
704-564-2372

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8019d044-06b0-4554-866d-6789598099cc 

FAQ

What is the leadership change at CAVU Resources?

CAVU Resources has appointed Kevin Vincent Cox as the new CEO, Bob Silver as Executive Chairman, and Russ Sinacori as COO.

What experience does Kevin Vincent Cox bring to CAVU Resources?

Kevin Vincent Cox has a proven track record of transforming companies and raising capital, including a significant role in growing a subsidiary of UPS.

Why did Robert Demes leave CAVU Resources?

Robert Demes is no longer with the company as leadership transitioned to new executives.

What are CAVU Resources' future plans under the new leadership?

The new leadership aims to build, acquire, and invest in companies across five major verticals: real estate, technology, education, entertainment, and health and wellness.

How does the new leadership impact CAVU Resources' strategy?

The new leadership is expected to drive strategic growth and enhance shareholder value, leveraging their extensive experience in company transformation.