Consolidation Services Inc. Announces Results of Annual Shareholder Meeting

Dec 03, 2012, 17:58 ET from Consolidation Services, Inc.

LAS VEGAS, Dec. 3, 2012 /PRNewswire/ -- Consolidation Services Inc. ("CNSV" or the "Company") (OTCBB: CNSV) announced that at its Annual Shareholder Meeting held on November 30, 2012, its shareholders approved all matters set forth in the Notice of Meeting dated October 25, 2012, including: (i) the proposal to amend Article 4 of the Company's Certificate of Incorporation to effect a reverse split of the outstanding shares of the Company's common stock, in a ratio of one share for every four shares outstanding, and to transfer ownership and title of the Company's existing oil and gas assets and operations into a to-be-formed wholly-owned subsidiary of the Company; and (ii) the proposal to grant authorization to the Board of Directors to amend Article I of the Certificate of Incorporation and change the Company's corporate name.

In addition to re-electing two incumbent Directors, Mr. Gary Kucher and Mr. Richard S. Polep, the shareholders also elected two new Directors to the Board; Ambassador Michael Ussery (Ret) and Mr. Roy R. Tashi, OAM.

Gary Kucher, the Company's CEO, stated, "I would first like to thank our shareholders for their continued support. I believe that the international experience of our new Board Members will better equip Consolidation Services to identify prime business opportunities in rapidly expanding emerging markets, around the globe. Mr. Tashi and Mr. Ussery share a particular interest in the growth potential of the natural resource driven economy of Mongolia, among other places." 

About Ambassador Michael Ussery (Ret):

Since 1992, former U.S. Ambassador Michael Ussery has led major investments and other business development and humanitarian projects in East Europe, the Mid-East, East Asia, and the Caribbean.

Over the past 20 years, Mr. Ussery has served as an international advisor to eight governments and more than 75 corporations and non-profit organizations. Mr. Ussery is a founder of eight companies and four non-profit organizations, and he has led the planning to create American universities in developing countries.

In the U.S., Mr. Ussery serves on the Board of Directors of Safi Apparel and Reviresco Corporation. He is Chairman of the Advisory Board of CalErin Group Investment Fund and serves on the advisory boards of the Mongolia Fund and Pax Mondial. Previously he served on the board of directors of Terocelo Telecommunications, D'Sal Inc., Safe Security and Dignity Products.

Mr. Ussery has been a co-founder and active partner of InfoMed Bulgaria, Medica Bulgaria, Netcare Bulgaria, and Balkan Land. Companies he presently advises include Cold Brook Capital and General Dynamics.

Previously, he was appointed by the Governor of Virginia as Commissioner of Vint Hill Economic Development Authority; and was co-founder and Advisory Chairman of the Romania Moldova Direct Fund.

Mr. Ussery was a pro bono spokesman for the U.S. Committee on Refugees & Immigration 2008 - 2010 campaign to end the global practice of "warehousing" refugees. Mr. Ussery was opening speaker 2010 at the 7th annual "Beijing Forum" on international development.

In international education, Mr. Ussery is Chairman and President of the Council for American Universities Abroad, presently planning universities in Mongolia, Albania and Romania, and assisting universities overseas and education ministries. He was Chairman and President 2002 - 2006 of the Coordinating Council for International Universities that planned the American University of Afghanistan.

Michael Ussery was appointed by President Reagan on December 22, 1988 to be U.S. Ambassador to Morocco, at that time the youngest U.S. Ambassador. He was re-appointed by President Bush and confirmed unanimously by the U.S. Senate, at post until January 1992, leading an embassy of 800 personnel.

Mr. Ussery served at U.S. Department of State 1981 - 1992, including Deputy Assistant Secretary of the Near East and South Asia Bureau; Chairman of the twelve-agency Libya Task Force during the U.S.- Libya confrontation, White House Liaison, and Director for Congress and the Media in the International Organizations Bureau. In 1988 he left State to serve as Senior Advisor and Deputy to the Campaign Manager of the Bush - Quayle Campaign.

Mr. Ussery began his career in political management in Georgia and South Carolina, and came to Washington as Chief of Staff to U.S. Congressman Carroll Campbell. He is a graduate of Newberry College, where he was honored as Commencement Speaker in 1991.

About Roy R. Tashi, OAM:

Since November 2010, Mr. Tashi has focused on managing a personal portfolio of investments in domestic and international private equity and property development. From April 2009 to October 2010, he served as Executive Chairman of Geneva-based Helvetica Wealth Management Partner's Australian subsidiary and was on the Advisory Board of the Geneva based parent company. Helvetica's investment product range included traditional long-only funds, funds of hedge funds, thematic funds and real estate investments with total funds under management peaking at over $4.5 billion. Mr. Tashi has established and operated several businesses in various sectors including manufacturing, distribution, importing, exporting and trading.

Mr. Tashi is co-founder of the Mongolia Fund and serves as its Executive Director. He has extensive experience in establishing, building and developing a variety of businesses in various sectors including manufacturing, distribution, importing, exporting and trading. He has focused on private equity investments where he added value as a director or serving on the advisory board assisting in developing strategy and overseeing the drive for growth. He has been involved in both private and public companies and continues to serve as a director on a number of companies. Mr. Tashi has also been involved in property development in Australia and the United States. Whilst based in Australia, his experience extends to Asia, Europe and the United States.

Mr. Tashi has been active in business for over 48 years and has been involved in communal not-for-profit organizations for over 30 years. He was awarded the Order of Australia Medal ("OAM") for services to the community specifically in Aged Care and Education.

About CNSV:

Founded in 2007 and based in Las Vegas, Nevada, Consolidation Services is engaged in the acquisition, operation and development of natural resources. Since formation and until 2010, the Company had primarily focused on its mining operations in Tennessee, which were subsequently spun off to its shareholders as a dividend. The Company currently operates oil and gas wells and owns oil and gas mineral rights on approximately 13,500 acres in eastern Kentucky and Tennessee. Consolidation Services is attempting to build shareholder value through further acquisitions and development of natural resources, internationally.

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Forward Looking Statement:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and under the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. Without limiting the foregoing, the words "believe," "anticipate," "plan," "expect," "seek," "potential", "estimate" and similar expressions are intended to identify forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements.

Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

SOURCE Consolidation Services, Inc.