Managing Director Roycap Merchant Banking Group
CALGARY, AB & SCOTTSDALE, AZ, May 6, 2013 /PRNewswire/ - Ridgeline Energy Services Inc. ("Ridgeline" or the "Company") (TSXV: RLE, OTCQX: RGDEF, FSE: RL7) a technology driven company operating in the waste water industry, today announces the appointment of Jean Noelting as a Director of the Board subject to approval of the TSXV.
Mr. Noelting on behalf of Roycap negotiated the recently announced CWT (Carthage Missouri) acquisition by Ridgeline. He is a seasoned CEO with experience in both growth and turnaround assignments. He has a solid track record of accomplishments in the management of complex businesses of various sizes (up to $3 billion) and industry segments.
He has been President and CEO of Cryptologic Inc., a leading software development company serving the internet gaming market with a strong proprietary financial transaction engine. During his tenure, Cryptologic was honored as the fastest growing company in Canada by Profit Magazine. He has also been President of Westburne Inc., Canada's leading distributor of electrical, plumbing and industrial supply products with sales of $3 billion. Before its sale to Rexel SA of France, Westburne had recorded sales and profit growth of +25%, from a successful program of acquisitions and continued organic growth. Mr. Noelting was also Divisional President with Parmalat Canada, in charge of the Food Group, its largest business units with sales of $1 billion. Jean has an engineering background, he is bilingual and has an M.A.Sc. from the University of Toronto. He has been a recipient of the "Top 40 under 40" (high achiever award).
Dennis Danzik CEO Ridgeline stated "We are extremely pleased to have Mr. Noelting join the board of Ridgeline as it provides great additional business and financial experience and demonstrates the confidence Roycap and Mr. Noelting have in the future for Ridgeline".
At the same time we would like acknowledge Mr. Douglas Johnson and Mr. Kelly Sledz for their contribution to Ridgeline since the inception of the company almost 8 years ago. Mr. Johnson has retired from the board effective the 4th May 2013. Mr. Johnson has been a stalwart supporter of the company over the years in time, investment and marketing. His experience in the venture capital market was of great value at the formative stage of the company and we thank him for his contributions.
Mr. Sledz has stepped off the Ridgeline board effective the 3rd May 2013. Mr. Sledz was Chairman of the Audit Committee and provided valuable guidance to the company in many financial reporting areas; we thank him for his contributions.
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is a technology driven company operating in the waste water industry. The Company is applying proprietary technology to treat water generated from industrial and commercial waste water markets. These markets include a wide variety of clients across a broad spectrum of industries including oil and gas. Through its environmental consulting and remediation divisions, Ridgeline Environment has built a reputation as an established provider of environmental services to the Western Canadian oil and gas industry. Ridgeline GreenFill provides soil remediation and wet waste disposal services to the oil and gas industry. The Company trades on the TSX Venture Exchange under the symbol "RLE", the OTCQX as "RGDEF" and the Frankfurt Stock Exchange as "RL7".
ON BEHALF OF THE BOARD OF DIRECTORS
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward- looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."
SOURCE Ridgeline Energy Services Inc.