INTK Announces Senior Management Changes; Substantial Share Retirement And Cancels Reverse Split

Rhea-AI Summary

Industrial Nanotech Inc. (OTC PINK:INTK) announced the resignation of Stuart Burchill as CEO due to health reasons. Craig Fischer will take over as CEO, and Jaime Cruz will join as CTO and Director of Operations. 29.5 billion shares of the former CEO's common stock will be retired. The previously announced reverse split will not be executed. Craig Fischer and Jaime Cruz bring extensive experience and expertise to the company.

NALPES, FL / ACCESSWIRE / December 12, 2023 / Industrial Nanotech Inc. (OTC PINK:INTK) today announced that Stuart Burchill, the group's founding Chairman and Chief Executive Officer has decided to step down from his roles effective December 12, 2023, for health reasons. Craig Fischer will take over effective immediately as CEO of the Company and its subsidiaries, Syneffex, TalkingPaint, and Anaconda Insulation. Mr. Fischer will be joined by Jaime (Jay) Cruz, the former President of the Company, as CTO and Director of Operations. Mr Burchill will assist the Company in a technical capacity as a Consultant.

The Company also announced that 29.5 billion shares of the former CEO's common stock is will be retired and returned to treasury.

In addition. The company announce that the previously announced 1/2000 reverse split will not be executed by the Company.

Craig Fischer brings 30 years of experience and success working with public companies as an investor, shareholder, advisor, and is the former CEO of a public company

Jaime Cruz is a Six Sigma Black Belt and a Certified Lean Continous Improvement Trainer, and is a recognized leader in taking companies to their revenue and profitably potential implementing organizational discipline and integrity implementing policies and procedures that instill a culture of efficiency and a focus on continuous improvement. Mr Cruz is also recognized worldwide as scientist and leader in iCoatings and Energy Efficiency Industry. , having developed, the product that won the Million Cool Roof Challenge with team Indonesia on 2022.

Mr. Cruz was also invited as a guest speaker at UPI University, at their Global Warming mitigation meeting: "Collaborative Action on Climate Change Education." This program is organized in collaboration with the Architecture Study Program, University of Education Indonesia sponsored by BeCool Indonesia through a grant from the Climateworks Foundation, USA.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise/update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.

Contact: invest@industrial-nanotech.com

SOURCE: Industrial Nanotech Inc.
via PRISM Mediawire, LLC

View the original press release on accesswire.com

FAQ

Why did Stuart Burchill step down as CEO of Industrial Nanotech Inc. (INTK)?

Stuart Burchill stepped down from his roles as CEO for health reasons.

Who will replace Stuart Burchill as CEO of Industrial Nanotech Inc. (INTK)?

Craig Fischer will take over as CEO of the company.

What will happen to Stuart Burchill's common stock in Industrial Nanotech Inc. (INTK)?

29.5 billion shares of Stuart Burchill's common stock will be retired and returned to treasury.

Will the previously announced reverse split be executed by Industrial Nanotech Inc. (INTK)?

The previously announced 1/2000 reverse split will not be executed by the company.

What experience does Craig Fischer bring to Industrial Nanotech Inc. (INTK)?

Craig Fischer brings 30 years of experience working with public companies as an investor, shareholder, advisor, and is the former CEO of a public company.

What expertise does Jaime Cruz bring to Industrial Nanotech Inc. (INTK)?

Jaime Cruz is a Six Sigma Black Belt and a Certified Lean Continuous Improvement Trainer, recognized worldwide as a leader in iCoatings and Energy Efficiency Industry.

What recognition has Jaime Cruz received in the industry?

Jaime Cruz was invited as a guest speaker at UPI University's Global Warming mitigation meeting and won the Million Cool Roof Challenge with team Indonesia in 2022.