SNRG 8-K
SusGlobal Energy Corp. (SNRG)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): April 20, 2021
SusGlobal Energy Corp.
(Exact name of Registrant as specified in its charter)
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Delaware |
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000-56024 |
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38-4039116 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
200 Davenport Road
Toronto, ON, Canada, M5R 1J2
(Address of principal executive offices, including zip code)
(416) 223-8500
(Registrant's telephone number, including area code)
Check the appropriate box below if the 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
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Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 20, 2021, the board of directors (the "Board") of SusGlobal Energy Corp. (the "Company") appointed Mr. Gary Herman as a member of the Board, effective immediately (the "Appointment").
Gary Herman, age 54
Gary Herman Mr. Herman has many years of investment experience with a focus on undervalued public companies. Since 2002, Mr. Herman has been a managing member of Galloway Capital Management, LLC, which, through its fund, Strategic Turnaround Equity Partners, LP (Cayman) has focused on investments primarily in undervalued securities. From January 2011 to August 2013, Mr. Herman was a managing member of Abacoa Capital Management, LLC, which, through its fund, Abacoa Capital Master Fund, Ltd. focused on a Global-Macro investment strategy. Since 2005, Mr. Herman has been a registered representative with Arcadia Securities LLC, a FINRA-registered broker-dealer based in New York. From 1997 to 2002, he was an investment banker with Burnham Securities, Inc. From 1993 to 1997, he was a managing partner of Kingshill Group, Inc., a merchant banking and financial firm with offices in New York and Tokyo. Mr. Herman also has franchising experience, having served on the boards of several franchised concepts, including Arthur Treacher's Fish & Chips, Wall Street Deli Systems, Inc., Shells Seafood Restaurants, Inc., and Miami Subs Corporation where he also served as President from 2007 to 2009. Mr. Herman has a B.S. from the State University of New York at Albany with a major in Political Science and minors in Business and Music. Mr. Herman has served on the boards of public and private companies for many years, including Tumbleweed Holdings, Inc., since 2001. He serves as a member of the board of directors of Creative Learning Corp. since July 2017. His experience has included board membership, corporate officer, advisory, capital raising and restructuring roles. We believe that these experiences make Mr. Herman well-qualified to serve as a member of the Board.
Board Committees
Mr. Herman has been appointed a member of each of the Audit Committee, Compensation Committee, and Nominating Committee. Mr. Herman will serve as chairperson of the Compensation Committee.
Related Party Transactions
There are no related party transactions with regard to Mr. Herman reportable under Item 404(a) of Regulation S-K.
Compensatory Arrangements
As compensation for his services as a member of the Board Mr. Herman shall be entitled to receive CA$25,000 fee per annum, payable at year end by either cash or shares of the Company at the Company's discretion.
Item 8.01 Other Events.
On April 22, 2021, the Company issued a press release announcing the Appointment. A copy of the press release is filed hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Exhibits.
(d) Exhibits
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Exhibit No. |
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Exhibit |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SusGlobal Energy Corp. |
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Dated: |
April 23, 2021 |
By: |
/s/ Marc Hazout |
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Marc Hazout |
SusGlobal Appoints Gary Herman to its Board of Directors
TORONTO, ON / ACCESSWIRE / April 22, 2021 / SusGlobal Energy Corp. ("SusGlobal" or the "Company") (OTCQB: SNRG), the developer of SusGro™, a revolutionary pathogen free organic liquid fertilizer, is pleased to announce the appointment of Gary Herman to the Company's Board of Directors.
Mr. Herman has many years of experience as an investor and fund manager primarily in undervalued U.S. publicly traded companies. A highly entrepreneurial business strategist, he has been involved with many companies in raising capital, securing strategic and joint-venture partnerships, and growing businesses through his extensive global network. Previously, Mr. Herman was an investment banker with Burnham Securities, Inc. as well as a managing partner of Kingshill Group, Inc., a merchant banking and financial advisory firm with offices in New York and Tokyo.
Mr. Herman is a current member of the Boards of several private and public companies including: XS Financial, Inc. (CSE: XS) (Chairman of Audit Committee); Diagnostic Lab Corporation, Inc.; Ev Transportation Systems, Inc. and Elegance Brands, Inc.
"The appointment of Mr. Herman to the Board of Directors continues SusGlobal's strategy of expanding the strength and depth of its Board through the appointment of accomplished industry veterans," commented Marc Hazout, Executive Chairman, President and CEO of SusGlobal. "Gary brings a business discipline and experience, combined with an extensive network of investment funding."
"SusGlobal is a dynamic company with strong fundamentals and I look forward to being instrumental in working with management and the board to guide the Company as it pursues an uplist to the NASDAQ," stated Mr. Herman. "The SusGlobal model of sustainable organic waste management and production of regenerative products is ready to export to municipalities throughout North America."
Following this appointment, SusGlobal's Board of Directors is comprised of four directors. Mr. Herman is the lead independent director.
About SusGlobal Energy Corp.
SusGlobal Energy Corp., the developer of SusGro™, a revolutionary pathogen free organic liquid fertilizer is a renewables company focused on acquiring, developing, and monetizing a portfolio of proprietary technologies in the waste to energy and regenerative products applications globally. It is management's objective to grow SusGlobal into a significant sustainable waste to energy and regenerative products provider, as LEADERS IN THE CIRCULAR ECONOMY®. For more information, please visit the Company's website at: www.susglobalenergy.com
Safe Harbor Statement
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's objectives. Forward looking statements are statements that are not historical facts and 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. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, lack of sufficient financial resources; variations in market conditions, currency and our stock; the Company's ability to obtain any necessary permits, approvals, consents or authorizations required for its activities; the Company's ability to produce energy, biogas, compost or organic fertilizer from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company's filings with the U.S. Securities and Exchange Commission, which may be viewed at www.sec.gov.
Contact
SusGlobal Energy Corp.
Marc Hazout, President and CEO
(416) 223-8500 or Toll Free: 1-866-512-7374
Email: [email protected]
SOURCE: SusGlobal Energy Corp.