Centaurus Energy Announces Appointment of Interim CFO

Rhea-AI Summary

Centaurus Energy Inc. (TSXV: CTA) (OTC Pink: CTARF) appoints Mr. Jeffrey Borack as interim Chief Financial Officer. With over 13 years of finance, strategy, and operations experience, including as CEO of Angels' Cup Coffee, Mr. Borack brings a strong track record of success to Centaurus. His appointment is expected to benefit the company and shareholders.

Calgary, Alberta--(Newsfile Corp. - August 7, 2023) - Centaurus Energy Inc. (TSXV: CTA) (OTC Pink: CTARF) ("Centaurus" or the "Company") and its board of directors are pleased to announce that Mr. Jeffrey Borack has been appointed interim Chief Financial Officer.

Mr. Borack has more than thirteen years of experience in finance, strategy, and operations. He previously served as founder and CEO of Angels' Cup Coffee. After six years of leading the team and growing the business by more than 30% per year, he effectuated the sale of the business. Prior to his time at Angels' Cup, he held roles as an investment analyst and portfolio manager with NYC-based investment partnerships Kerrisdale Capital and Marathon Partners. There he gained experience with GAAP accounting, financial analysis, and business modeling, and he was able to develop strong relationships with company management, investor relations, and other members of the buy-side and sell-side communities. He received both an MBA and a BS in Bioengineering from the State University of New York at Binghamton.

David Tawil, Centaurus' CEO, commented, "Jeff has a proven track record of success in finance and in operations. As CEO of Angels' Cup, Jeff was ultimately responsible for product design, web design, software development, marketing, legal, financial, contract negotiations, sourcing, and tax reporting. The quality of his execution led to strong growth and the eventual sale of the business. We look forward to benefiting from Jeff's broad expertise and welcome him to the team."

Mr. Borack added, "I am excited to step into the role of interim CFO at Centaurus. With a solid balance sheet and fundamentals, I look forward to returning value to shareholders."

About Centaurus Energy

Centaurus is an independent upstream oil and gas company. The Company's shares trade on the TSX Venture Exchange under the symbol CTA and on the OTC Pink Market under the symbol CTARF.

FOR FURTHER INFORMATION, PLEASE CONTACT:
David Tawil, Chief Executive Officer
email: davidtawil@ctaurus.com
phone: (646) 479-9387

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains forward-looking statements which with respect to the possible approval of the Consolidation by the shareholders of the Corporation, the implementation of the Consolidation by the directors or the Consolidation ratio to be effected by the directors, if implemented. These forward-looking statements may relate to, among other things, forecasts or expectations regarding business outlook for Centaurus, the requirements of the Exchange, and may also include other statements that are predictive in nature, or that depend upon or refer to future events or conditions, and can generally be identified by words such as "may", "will", "expects", "anticipates", "intends", "plans", "believes", "estimates", "guidance", or similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Centaurus. The reader is cautioned not to place undue reliance on any forward-looking information. Although such information is considered reasonable by management at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and Centaurus do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/176266

FAQ

Who has been appointed as interim Chief Financial Officer of Centaurus Energy Inc. (CTA)?

Mr. Jeffrey Borack has been appointed as the interim Chief Financial Officer of Centaurus Energy Inc. (CTA).

What is Mr. Jeffrey Borack's background and experience?

Mr. Jeffrey Borack has over thirteen years of experience in finance, strategy, and operations. He previously served as founder and CEO of Angels' Cup Coffee and held roles as an investment analyst and portfolio manager with NYC-based investment partnerships Kerrisdale Capital and Marathon Partners.

What are Mr. Borack's qualifications?

Mr. Borack received both an MBA and a BS in Bioengineering from the State University of New York at Binghamton and gained experience with GAAP accounting, financial analysis, and business modeling during his time at investment partnerships.

What is the CEO's comment on Mr. Borack's appointment?

Centaurus' CEO, David Tawil, commented that Jeff has a proven track record of success in finance and operations and looks forward to benefiting from Jeff's broad expertise.

What does Mr. Borack aim to achieve in his role at Centaurus?

Mr. Borack stated that he is excited to step into the role of interim CFO at Centaurus and looks forward to returning value to shareholders with the company's solid balance sheet and fundamentals.