Gemini Corporation Announces Executive Changes
CALGARY, May 29, 2015 /CNW/ - Gemini Corporation (GKX-TSXV) is pleased to announce that Mr. Terry Martin will be joining the organization as Chief Operating Officer, effective June 22, 2015. In addition, the Corporation wishes to congratulate Mr. Roger Harripersad on his promotion to Vice President, Human Resources.
Mr. Martin is an experienced energy industry executive with approximately 15 years of experience in the western Canadian oil and gas sector. His most recent position was with Lauren Engineers and Constructors as Chief Operating Officer and prior to that he was with CH2M Hill Energy Canada and Suncor Energy Inc. in progressively senior positions dating back to 2001. He emigrated to Canada from South Africa after developing his engineering and construction skills for the first ten years of his career. His background in Engineering, Procurement and Construction project delivery will be extremely beneficial in further advancing Gemini's Design-Build capabilities.
Mr. Harripersad joined Gemini in November, 2013 as Director, Human Resources. He has been instrumental in leading the Corporation's initiatives to enhance human resource practices. As an employer of over 650 personnel, Gemini has set an objective of becoming an employer of choice within the Canadian oil and gas market. Mr. Harripersad and his team will be crucial in achieving this goal as the Corporation continues to grow.
Finally, it is with regret that we announce the resignation of Mr. Michael Boyles, Gemini's Vice President, Business Development, effective June 5, 2015. Mr. Boyles joined Gemini in January, 2012 and he has been very successful in transitioning the Corporation toward a well-defined client relationship approach for the delivery of project services. He has been a valued member of the executive team for both business development and strategic initiatives. He established and trained a solid business development team that will continue to grow the business in the future. We wish Mr. Boyles success in his exciting new opportunity and thank him for his service to Gemini.
"I am pleased to welcome Terry and Roger to our executive team" commented Doug Lautermilch, Gemini's President and CEO. "Their expertise and guidance will be beneficial to Gemini's continued development and growth."
The hiring of Mr. Martin and the promotion of Mr. Harripersad have resulted in the granting of 300,000 options to purchase Gemini common shares at an exercise price that will be determined on the effective date of their employment or promotion, respectively. Under the terms of Gemini's option plan, the options will be valid for four years and vest one-third immediately and the remainder at one-third on each of the next two grant date anniversaries. These grants bring the total number of options outstanding to 2,624,001 or 3.4% of the 76,827,832 issued and outstanding common shares of the Corporation. In addition, a total of 150,000 performance share units were granted with a vesting date of January 1, 2018. The unit plan is structured to settle the performance share units by the issuance of shares on the vesting date. This grant brings the total number of performance share units outstanding to 3,302,000 or 4.3% of the 76,827,832 issued and outstanding common shares of the Corporation.
About Gemini Corporation
Gemini Corporation is a professional services firm that designs, builds and maintains energy and industrial facilities. We provide regulatory, environmental, engineering, fabrication, installation and maintenance solutions for clients through stand-alone or integrated service delivery models. Our design-build capabilities differentiate Gemini and provide tremendous value-added benefits for clients, such as cost certainty, schedule compression and one point of accountability. The Corporation's principal target markets are midstream oil and gas, oil and gas production, in-situ heavy oil, and oil and gas processing across western Canada.
Shares of Gemini trade on the TSX Venture Exchange under the symbol GKX. For more information about the Corporation and its services, go to www.geminicorp.ca.
Disclaimer
This news release may contain forward looking information that represents Gemini's internal projections, expectations, estimates or beliefs concerning, among other things, future operating results and various components thereof or Gemini's future economic performance. All statements other than the statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expects", "projects", "plans", "anticipates", and similar expressions. The projections, estimates and beliefs contained in such forward-looking statements are based on management's assumptions relating to Gemini's performance and competition within the sectors in which it competes, the continuation of the current regulatory and tax regimes in the jurisdictions in which Gemini operates, and necessarily involve known and unknown risks and uncertainties, including risks and assumptions relating to client service demand, field service costs, labour rates, and other factors that may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted or suggested. The Corporation does not undertake to update any forward-looking information in this document whether as to new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Gemini Corporation
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