Sky Quarry Appoints Respected Finance Leader Leo Womack to Board of Directors

Rhea-AI Summary

Sky Quarry (NASDAQ: SKYQ) has appointed Leo Womack to its Board of Directors, where he will serve as a member of the Audit and Nominating Committee and Chair of the Compensation Committee. Womack brings extensive experience as president of Gulf Equities Realty Advisors and CEO of Ramsey Financial Group.

With a background as a certified public accountant and real estate broker, Womack has served on numerous NASDAQ and OTC public company boards, particularly as audit committee chairman. His current roles include board membership at Petrolia Energy since 2015. Womack holds a Bachelor of Arts from Texas A&M University.

The appointment aligns with Sky Quarry's focus on waste asphalt shingle recycling, including plans for deploying its first modular ASR facility and capitalizing on California's oil market opportunities.

Positive

• Addition of experienced board member with strong financial and corporate governance background
• Enhanced audit committee expertise through appointment of certified public accountant
• Strengthened corporate oversight with experienced NASDAQ and OTC board veteran

Negative

• None.

Veteran Board Member for Private and Public Companies to Provide Corporate Financial Strategy and Capital Markets Experience

WOODS CROSS, Utah, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or "the Company"), an integrated energy solutions company committed to revolutionizing the waste asphalt shingle recycling industry, today announced the appointment of respected finance leader Leo Womack to the Company’s Board of Directors. Mr. Womack will also serve as a member of the Audit and Nominating Committee and as Chair of the Compensation Committee.

Leo Womack has been the president and a director of Gulf Equities Realty Advisors, Inc., a diversified real estate portfolio management company, since 1986. He also serves as the chief executive officer of Ramsey Financial Group, a single-family office managing a diversified portfolio of assets for the Leo B. Womack Family Trust. Mr. Womack currently serves on the board of directors of numerous private companies, where he holds varying positions that include chairman, chairman of the audit committee and audit committee member. Since 2015, Mr. Womack has served as a member of the board of directors and as the chairman of the audit committee of Petrolia Energy Corporation Inc. During his extensive business career, Mr. Womack has served on the board of directors of numerous NASDAQ and OTC public companies in the role of chair of the audit committee. Mr. Womack is licensed as a certified public accountant, a real estate broker, and previously as a securities broker and as a member of the National Association of Corporate Directors. Mr. Womack received a Bachelor of Arts from Texas A&M University.

“Leo brings a strong background in corporate governance, accounting, and capital markets, which we believe qualifies him to serve on our board of directors and adds significant strategic, business and financial experience," said David Sealock, Chairman and CEO of Sky Quarry “ He is a respected finance leader who brings invaluable and highly incremental experience to the company, and on behalf of the Board of Directors, I would like to welcome him to the Board. We look forward to his insights and contributions in the quarters to come as the management team strives to create sustainable, long-term value for our shareholders.”

Mr. Womack added, “It is truly a privilege to join Sky Quarry at such an exciting point in its journey to become a leader in the waste asphalt shingle recycling sector. The company’s near-term focus on production and sales growth, deployment of its first modular ASR facility, and strategic plans to capitalize on emerging opportunities in California's evolving oil market, position it for continued success in the quarters to come. I am eager to work closely with Marcus Laun and the Board as they steward the company along its journey of operational execution.”

About Sky Quarry Inc.

Sky Quarry Inc. (NASDAQ: SKYQ) and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit skyquarry.com.

Forward-Looking Statements

This press release may include “forward-looking statements.” All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as "expect," "look forward to," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in our disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company's other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company's Form 1-A offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained.

Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
SKYQ@mzgroup.us
www.mzgroup.us

Corporate Contact
Jennifer Standley
Director of Investor Relations
Ir@skyquarry.com

Company Website
www.skyquarry.com

FAQ

What role will Leo Womack serve on Sky Quarry's (SKYQ) Board of Directors?

Leo Womack will serve as a member of the Audit and Nominating Committee and as Chair of the Compensation Committee for Sky Quarry (SKYQ).

What is Leo Womack's experience before joining Sky Quarry (SKYQ)?

Womack has been president of Gulf Equities Realty Advisors since 1986, CEO of Ramsey Financial Group, and has served on numerous NASDAQ and OTC public company boards, including Petrolia Energy since 2015.

What are Sky Quarry's (SKYQ) strategic plans mentioned in the announcement?

Sky Quarry plans to focus on production and sales growth, deploy its first modular ASR facility, and capitalize on opportunities in California's evolving oil market.

What professional certifications does Leo Womack hold relevant to Sky Quarry (SKYQ)?

Leo Womack is licensed as a certified public accountant, a real estate broker, and was previously licensed as a securities broker and member of the National Association of Corporate Directors.