Crown Electrokinetics Names Corey Boaz as President of Construction

Rhea-AI Summary

Crown Electrokinetics Corp. appoints Corey Boaz as President of Construction of its fiber optics division, Crown Fiber Optics. Boaz brings 13 years of experience in construction of underground utility infrastructure and aims to drive new business opportunities in the communications sector, as well as develop new revenue streams for Crown in various sectors. He has been granted 750,000 RSUs as an inducement equity award.

LOS ANGELES, CA / ACCESSWIRE / February 8, 2024 / Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading smart glass technology company and an expert in both designing and installing distributed antenna systems (DAS) and constructing fiber optic networks, today announced that it has named Corey Boaz as President of Construction of its fiber optics division, Crown Fiber Optics.

Doug Croxall, CEO and Chairman stated, "I'm pleased to welcome Corey to the Crown team. He brings to Crown more than 13 years of experience in the construction of underground utility infrastructure. Not only will Corey drive new business opportunities in the communications sector, but will also develop new revenue streams for Crown in the oil and gas, electrical construction, renewable energy, and civil construction sectors."

Through his consulting firm, Mr. Boaz has worked closely with several of the largest corporations in the oil and gas, renewables, telecommunications, and heavy civil construction sectors. He has successfully owned, operated, and sold multiple construction businesses, and is highly respected in the horizontal directional drilling industry. He is also a regular speaker on industry expert panels throughout the United States and abroad.

Boaz commented, "I'm excited to join the Crown team and build atop of recent operational momentum. I'm confident that my experience and contacts will play a material role in the further growth and expansion of Crown Fiber Optics."

In connection with Mr. Boaz's appointment and pursuant to the terms of Mr. Boaz's employment agreement with Crown, Crown granted to Mr. Boaz 750,000 RSU's as an inducement equity award outside of Crown's 2022 Employee Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4). The vesting dates will be based on business milestones agreed to between Mr. Boaz and the Compensation Committee of the Board of Directors for Crown. This inducement award was approved by Crown's Board of Directors (the "Board"), including a majority of the independent directors serving on the Board.

About Crown Electrokinetics

Crown is a smart glass technology company and the creator of our Smart Window Insert and an expert in both designing and installing distributed antenna systems (DAS) and constructing fiber optic networks. For more info, please visit: www.crownek.com

Safe Harbor Statement:

Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Crown Electrokinetics Contact:

IR Email: info@crownek.com

SOURCE: Crown Electrokinetics

View the original press release on accesswire.com

FAQ

Who has Crown Electrokinetics Corp. appointed as President of Construction of its fiber optics division?

Crown Electrokinetics Corp. has appointed Corey Boaz as President of Construction of its fiber optics division, Crown Fiber Optics.

How many years of experience does Corey Boaz have in construction of underground utility infrastructure?

Corey Boaz brings more than 13 years of experience in the construction of underground utility infrastructure.

What type of equity award has Mr. Boaz been granted?

Mr. Boaz has been granted 750,000 RSUs as an inducement equity award.

In which sectors does Corey Boaz aim to drive new business opportunities for Crown?

Corey Boaz aims to drive new business opportunities in the communications sector, as well as develop new revenue streams for Crown in the oil and gas, electrical construction, renewable energy, and civil construction sectors.