Hiru Corp (HIRU) Management Recalibration and Share Reduction

Rhea-AI Summary

Hiru Corp announces a management change with the CEO and COO stepping down to make room for new management in the mining field. The company is searching for a new CEO with mining sector experience. Additionally, Hiru Corp is clawing back issued shares from a recent acquisition of a logistics business.

Positive

• Hiru Corp is proactively making management changes to bring in new leadership in the mining sector.
• The company is focused on finding a CEO with extensive experience in mining operations to lead its future endeavors.
• Hiru Corp is clawing back issued shares from a recent acquisition of a logistics business due to certain thresholds not being met.
• The clawed-back shares, estimated to be between 400 million to 600 million, will be returned to the company's treasury.
• Shareholders and stakeholders are encouraged to stay updated on the CEO search process and other developments through the company's website and official social media channels.

Negative

• None.

Management Change in the works Clawing Back Issued Shares

Miami, Florida--(Newsfile Corp. - April 12, 2024) - Hiru Corp (OTC Pink: HIRU), www.otchiru.com today announced that Gerald Mounger, Chief Executive Officer, and Andrew Lapp, Chief Operating Officer, will be stepping down from their positions to make room for a new CEO/COO Management in the mining field shortly. OTC will be updated on a timely basis.

Until the new CEO/COO is announced both executives will downgrade to management in transition and the Co chairman and Secretary will assume these executive roles.

The Company has already commenced its search for a new mining CEO. Some of the candidates being courted are affiliated with NASDAQ Biofuel and Nickel 1 to 3 billion mining type projects. Details are being worked out as plans include HIRU to be a hybrid to these projects.

As Hiru Corp looks toward the future, the company's search for a new Chief Executive Officer role will be to lead its mining operations. The ideal candidate will possess extensive experience in the mining sector and demonstrate strong leadership qualities. "We are committed to maintaining the momentum and success that Hiru Corp has achieved," the spokesperson added. "As we embark on this search for a new CEO, we remain focused on delivering value to our shareholders and stakeholders. In our Jan 2024 acquisition of the logistics business, we issued 1 billion restricted shares that had certain claw back provisions and milestones attached to the transaction. Unfortunately, or fortunately (depending on one's point of view) although 100% of current HIRU revenue is derived from the logistics side of the business, the thresholds were not met by the logistics business Seller.

HIRU is engaged in vigorous discussions and expects to recover between a significant number of shares (estimated 400 million to 600 million shares) in the claw back. These shares will be returned to the HIRU Company treasury.

For further information and updates regarding the CEO search process and other developments at Hiru Corp, shareholders and followers are encouraged to visit the company's website and follow its official social media channels.

More updates will follow on this and other exciting events in the works on a timely basis.

About Hiru Corporation

HIRU is a holding Company (The Company) holds interest in 3 operating enterprises.

1. Mining Business in Africa
2. Gold Trading / Processing (United Arab Emirates (Dubai)
3. Freight & Warehouse services with 2 company-owned physical locations in FL and CA.

The Company also has a codeshare type of agreement to utilize up to other POP (Point of Presence) locations throughout USA and Canada with over 25 FBA capabilities. The Company also has a well-developed water package infrastructure and an operating water packing division. The water division is currently in a diversification mode & being made available for sale to a qualified buyer / operator. See OTC Filings 3-4-24 (OTC Pink: HIRU) Supplemental filing Business Alignment

Disclaimer Regarding Forward-Looking Statements

Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions.  In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions.  Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements.  We caution investors not to rely unduly on any forward-looking statements.

Contact:

Website: www.otchiru.com
Phone: +1 954-228-1053
Email: corporate@otchiru.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205138

FAQ

What changes are happening in Hiru Corp's management?

Hiru Corp's CEO and COO are stepping down to make way for new management in the mining field.

What type of candidate is Hiru Corp looking for as its new CEO?

Hiru Corp is searching for a CEO with extensive experience in the mining sector and strong leadership qualities.

Why is Hiru Corp clawing back issued shares?

Hiru Corp is clawing back issued shares from a recent acquisition of a logistics business due to certain thresholds not being met.

How many shares is Hiru Corp estimated to recover in the claw back process?

Hiru Corp is expected to recover between 400 million to 600 million shares in the claw back.

Where can shareholders and followers get updates on the CEO search process?

Shareholders and followers can stay updated on the CEO search process and other developments through Hiru Corp's website and official social media channels.