Solar Integrated Roofing Corp. Provides Corporate and Operational Update

Rhea-AI Summary

Solar Integrated Roofing Corp. (SIRC) appoints two new Board Observers, Mr. Robert Yarhi and Mr. Philippe Gastone, to enhance outside shareholder representation.

HENDERSON, Nev., Feb. 09, 2024 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC: SIRC) (“SIRC” or “the Company”), an integrated, single-source solutions provider of solar power, roofing and EV charging systems announces the addition of two new Board Observers.

In an effort to ensure stronger outside shareholder representation on the SIRC Board of Directors, Mr. Robert Yarhi and Mr. Philippe Gastone have agreed to serve as Board Observers. Mr. Yarhi spent several days visiting the SIRC family of companies and their employees to learn more about the companies and strategies for growth. Mr. Gastone has spent numerous hours discussing the business challenges with CEO, Brad Rinehart. These in-depth discussions and visits provide the perfect segue to serving as Board Observers.

Philippe Gastone has broad experience in Corporate Strategy, Mergers & Acquisitions and Corporate Development. He has acquired strong cross-continent and cross-border experience in Europe, USA, South and Central America. He has led corporate development initiatives, acquisitions, and divestitures in multiple industries while working in large corporations, strategy consulting and Investment Banking. He advised and managed growth strategies and transactions for more than twenty years from strategic analysis through execution, negotiating and closing as well as on post-merger integration issues.

Mr. Gastone is a Co-Founder and Managing Partner of Cereus Capital Partners, a private equity firm investing in food assets in Central and South America. In addition, he is a Director of ViZible, an emerging artificial intelligence company based in Denver, CO.

Robert Yarhi is a shareholder and a Director in the family business SigmaQ Group, now headquartered in Panama. In 1983 he started his own business called Sigma Imports and is very successful in the Import/Export activities. SigmaQ acquired Badger Paper in Los Angeles in 1985, where Robert was appointed as President to manage the operations. Under Yarhi’s leadership, the company was able to turn the corner, grow and eventually relocate the company from California to Sparks, Nevada, building on his vision of a better business environment. Badger is now Sierra Converting Corporation.

Robert bought the business out of the family group in 2004 and is now the sole owner and President. The company was renamed Sierra Packaging & Converting LLC and in 2013 the company was relocated into a State-of-the Art 190,000 square feet facility in Reno. Robert Yarhi is also a Co-Founder and Partner of Cereus Capital Partners, a private equity firm focusing on acquiring food assets in Central and South America.

“Mr. Yarhi and Mr. Gastone offer the kind of insight that will help elevate SIRC and add additional perspective as we continue to navigate challenges. They each bring years of experience that is immeasurable, and we are very lucky to have their unique perception”, says Brad Rinehart, CEO.

Both observers have agreed to share their time and expertise and will have regular meetings with SIRC leadership. SIRC continues to remain hyper vigilante in efforts to streamline operations, focus on profitable projects and keep costs low.

About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC: SIRC) is an integrated, single-source solutions provider of solar power, roofing and EV charging systems, specializing in commercial and residential properties throughout North America. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. For more information, please visit the Company's Investor Relations website at www.solarintegratedroofing.com, Corporate website at https://www.sirc.com or join us on Twitter, LinkedIn or Facebook.

Press Release Contact:
Julie Brehm
jbrehm@sircfamily.com

FAQ

Who are the new Board Observers appointed by Solar Integrated Roofing Corp. (SIRC)?

The new Board Observers appointed by Solar Integrated Roofing Corp. (SIRC) are Mr. Robert Yarhi and Mr. Philippe Gastone.

What is the purpose of appointing new Board Observers at Solar Integrated Roofing Corp. (SIRC)?

The purpose of appointing new Board Observers at Solar Integrated Roofing Corp. (SIRC) is to ensure stronger outside shareholder representation on the SIRC Board of Directors.

Why did Mr. Robert Yarhi and Mr. Philippe Gastone agree to serve as Board Observers at Solar Integrated Roofing Corp. (SIRC)?

Mr. Robert Yarhi and Mr. Philippe Gastone agreed to serve as Board Observers at Solar Integrated Roofing Corp. (SIRC) to enhance outside shareholder representation.