MAHWAH, N.J., July 23, 2012 /PRNewswire/ -- InterCore Energy, Inc. (OTCBB: ICOR - News) announced that on Friday, July 20, 2012, its Board of Directors adopted a resolution granting warrants to the Company's senior management team.
The structure of the warrant packages is consistent with one of the basic operating principles of ICOR: that management's rewards would be linked to ICOR's financial performance. The intention has always been that management would have performance-linked incentives that places the management team and the Company's investors on the same side of the table.
Thus, the warrants granted to management have two major elements that are consistent with the stated philosophy – they are all currently "out of the money" and none vest earlier than February 1, 2013.
"I'm pleased that the Board has formalized management incentives that offer future compensation that is related directly to the Company's stock price over time. I welcome the opportunity to build InterCore Energy into an enterprise with significant value that should provide a superior return to its shareholders while simultaneously offering management an opportunity to benefit from the results of such growth," said James F. Groelinger, CEO of InterCore Energy. "I believe there are remarkable operating and investment opportunities that can provide robust financial rewards for our Company and our shareholders while enhancing the domestic energy environment."
About InterCore Energy, Inc.
InterCore Energy, Inc. is a public company that, in addition to managing its own operating entities, plans to participate in emerging companies in the energy sector that are run by exceptionally talented entrepreneurs and operating executives who are dedicated to creating positive change in our world. InterCore functions as an owner, product developer, and investor focused primarily on providing equity, acquisition debt, or bridge financing to emerging high-growth companies and entrepreneurs in the area of clean energy. See www.intercoreenergy.com
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). InterCore Energy, Inc. cautions that statements made in this news release relating to the potential investment in, and the business direction of, the Company constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates, and assumptions made by management. Actual results could differ materially from current projections or implied results. InterCore Energy, Inc. undertakes no obligation to revise these statements following the date of this news release.
Melissa J. Diaz
South Street Media, Inc
Phone: (917) 937-8968
SOURCE InterCore Energy, Inc.