New America Appoints David Fair as CEO

Rhea-AI Summary

New America Energy Corp. (OTC PINK CURRENT:NECA) has appointed David Fair as CEO, succeeding Jeff Canouse. Fair, previously CEO of Third Bench Holdings, brings significant experience in corporate strategy and M&A. His enthusiasm for growth positions NECA for advancement in the cabinetry market. The company recently acquired Third Bench Holdings, projecting a revenue run rate exceeding $28 million for 2021, with positive cash flow. This leadership transition aims to enhance operational efficiency and shareholder value.

Positive

• David Fair's extensive experience in corporate strategy and M&A could enhance NECA's strategic direction.
• Projected revenue run rate of over $28 million for 2021 indicates strong growth potential.
• Leadership change aims to improve operational efficiency and shareholder value.

Negative

• Transition in leadership may raise concerns regarding continuity and experience gaps.

NEW YORK, NY / ACCESSWIRE/ November 2, 2021 / New America Energy Corp. (OTC PINK CURRENT:NECA), name to be changed to "Third Bench", an industry leader in Kitchen & Bathroom cabinetry and countertops.

Third Bench is pleased to announce the appointment of David Fair as the Chief Executive Officer of New America Energy Corp. and the stepping down of Jeff Canouse from his role as the Chief Executive Officer. David Fair comes to New America Energy Corp. while servicing as the current CEO of Third Bench Holdings, LLC, a subsidiary of New America Energy Corp. David has an extensive career as an executive, corporate strategist, and executing M&A transactions.

Third Bench, CEO David Fair states, "I am thrilled to be taking on a leadership role as the CEO of Third Bench and NECA. My passion for strategy, leadership, and the construction industry have taken me many places over the last several years and as CEO I look forward to growing NECA into a national leader in the cabinetry space."

Jeff Canouse, NECA CEO, responded, "It has been my honor to be the CEO of NECA for many years. I believe that appointing David Fair CEO of NECA after the merger with Third Bench is a great move for the company and it will be a very positive outcome for the shareholders of NECA."

About Third Bench Holdings, LLC

THIRD BENCH Holdings is a holding company for five subsidiary companies operating as an architectural millwork and dealers in the cabinetry, kitchen and bath areas. THIRD BENCH, through its subsidiary companies, offers products in several categories: Residential Cabinets and countertops and commercial millwork throughout the Western U.S. for customers from California to Texas. THIRD BENCH also provides installation services as a part of its vertical offering. The company provides its products and services through its architectural millwork and retail facilities, currently located in Albuquerque and Las Cruces, New Mexico and Tucson, Arizona. Third Bench employs over 140 people and had revenue operations in excess of $19 million in 2020. Third Bench is on a run rate of over $28.0 million for 2021 and is cash flow positive. These projections have been provided by management and do not include the additional acquisitions that are currently under review.

Third Bench Holdings
175 S. Main Street #1410
Salt Lake City, UT 84111
https://thirdbench.com/

About New America Energy Corp.

New America Energy Corp. (NECA) through its recent acquisition of THIRD BENCH Holdings operates as an architectural millwork and dealers in the cabinetry, kitchen and bath areas. THIRD BENCH, through its subsidiary companies offer products in categories: Residential Cabinets and countertops and commercial millwork throughout the Western U.S. for customers from California to Texas.

NECA Contact:

Investor Relations
770-235-6053
info@ThridBench.com
(1) @third_bench - Twitter Search / Twitter
https://twitter.com/necaholdings

NOTICE REGARDING FORWARD LOOKING STATEMENT

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.

SOURCE: New America Energy Corp.

View source version on accesswire.com:
https://www.accesswire.com/670772/New-America-Appoints-David-Fair-as-CEO

FAQ

Who is the new CEO of New America Energy Corp.?

David Fair has been appointed as the new CEO of New America Energy Corp.

What changes are occurring in leadership at NECA?

Jeff Canouse has stepped down as CEO, and David Fair has taken over the position.

What are the growth projections for New America Energy Corp.?

NECA projects a revenue run rate of over $28 million for 2021.

What experience does David Fair bring to NECA?

David Fair brings extensive experience as an executive and corporate strategist from his time at Third Bench Holdings.

What is the significance of the merger with Third Bench for NECA?

The merger is expected to strengthen NECA's position in the cabinetry market and enhance shareholder value.