Stina Announces Appointment of Brett Whalen as Finance Advisor
TORONTO, May 3, 2018 /CNW/ --
Stina Resources Ltd. ("Stina" or the "Company") (CSE: SQA) (OTCQB: STNUF) (Frankfurt: 01X) is pleased to announce the appointment of Mr. Brett A. Whalen, CFA as Finance Advisor to the Board of Directors of Stina.
Stina's wholly-owned subsidiary, Enerox GmbH, is one of the world's first and largest researchers, developers, manufacturers and distributors of vanadium flow batteries. As an industry leader in the energy storage sector, it has installed CellCube vanadium flow batteries at over 100 sites around the world.
Brett Whalen is currently a Vice President and Portfolio Manager at Goodman Investment Counsel, a wholly-owned division of Dundee Corporation. Brett is also President and CEO of the CMP Group of companies and Director of Enwise Holdings since 2007. His experience also includes senior positions with Dundee Capital Markets and Clarus Securities Inc. He has a BA (Honours) degree in Economics and Finance from Wilfred Laurier University.
"Brett has a wealth of investment banking experience in mergers and acquisitions with public and private companies, especially in the resource and renewable energy sectors," states Mr. Brian Stecyk, President and CEO of Stina. "As such, he will make a valuable contribution to Stina as it executes its high growth business strategy in the fast-growing energy storage market."
The grid connected storage market is expected to grow 44% annually with the market size reaching US $18 billion by 2024 (Navigant Research). Stina, with its recent acquisition of the assets of Gildemeister Energy Storage GmbH ("Gildemeister") and Jet Power and Controls Ltd. ("Jet Power"), and its investment in Braggawatt Energy Inc. ("Bragagwatt"), is ideally positioned to capitalize on the demand for vanadium redox flow batteries ("VRFBs") worldwide to help meet the World's rapidly growing energy storage needs.
Gildemeister has been a world leader in the development of VRFBs. After 20 years of extensive research and development, Gildemeister developed the patented CellCube battery, the most commonly installed VFRB in the World. There are currently over 100 CellCube batteries in use globally. CellCube VRFBs are used for a variety of purposes including grid storage; micro-grids; off-grid storage for solar and wind power; diesel power replacement; back-up power systems; farming applications; electrical vehicle charging stations; industrial plants and office building applications; and emergency power sources.
Stina recently acquired Jet Power, a North American leading-edge provider of custom and off-the-shelf electrical equipment and systems for heavy power users, pipeline companies, refineries, manufacturers, municipalities and infrastructure providers and equipment. Its key products include electrical switchgear, motor control switchers, and solar power inverters. With the acquisition of Jet Power, Stina will be able to accelerate its sales of CellCube batteries worldwide and offer complementary products and services.
Stina has recently made a $1.95-million (U.S.) investment in Braggawatt. Braggawatt provides financing through an on-line platform that allows corporations and not-for-profit organizations to effectively adopt cost-saving on-site energy solutions.
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Mr. Brian Stecyk, President and CEO
Stina Resources Ltd.
Telephone: +1-800-882-3213
Email: [email protected]
www.stinaresources.com
SOURCE Stina Resources Ltd.
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