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Lignol Announces Senior Management Appointments
VANCOUVER, Jul 17, 2008 (Canada NewsWire via COMTEX News Network) -- Lignol Energy Corporation (TSX-V: LEC) ("Lignol" or "the Company"), a leading technology company in the cellulosic ethanol and biorefining sector, today announced that Jeff Charpentier, Vice President, Finance and Corporate Secretary, has been appointed Chief Financial Officer ("CFO") of the Company effective July 14, 2008. Mr. Charpentier will continue to act as Corporate Secretary of the Company. The Company also announced the appointment of Paul Hughes as Vice President, Corporate Development effective July 16, 2008. "Jeff has made significant contributions to Lignol since joining us earlier this year. His promotion to CFO reflects the leadership and expertise he has demonstrated while here and his proven track record in his prior roles as CFO," said Ross MacLachlan, President and Chief Executive Officer of Lignol. "David Turner, our previous CFO, will now have additional capacity, in his role as Executive Vice President, to focus on key strategic and commercial initiatives in our Specialty Chemicals Business Unit." "Paul has extensive international business experience leading key business development initiatives throughout Europe, North America and Asia," said Mr. MacLachlan. "With his strong business background and significant experience with a number of energy technologies and fuels, Paul will be a valuable addition to our team as we advance our commercial objectives." Lignol has granted options to acquire 100,000 common shares of the Company to Mr. Charpentier, who is an insider of the Company. Lignol has also granted options to acquire 200,000 common shares of the Company to certain other non-insider employees, all pursuant to its Stock Option Plan. The stock options were granted at an exercise price of $0.62 per share and are exercisable for a period of five years. Mr. Charpentier has a Bachelor of Commerce from the University of British Columbia and is a Chartered Accountant. Prior to his position as VP Finance and Corporate Secretary at Lignol, Mr. Charpentier held a series of progressively senior roles at several public companies in the technology and pharmaceutical sectors, including CFO of Inex Pharmaceuticals Corporation and CFO of Chromos Molecular Systems Inc. Mr. Charpentier is experienced with public issuer reporting requirements in both Canada and the U.S. and has extensive experience in high-growth technology sectors. Mr. Hughes holds a BSc (Honours) in Management and Administrative Studies from Aston University, United Kingdom ("UK"), an Executive MBA from Ashridge, UK and is a Chartered Accountant. Mr. Hughes career includes senior management roles in both start-ups and established energy companies covering operations, business development, acquisition and divestiture activities, venture capital, corporate restructuring, corporate and project finance and strategic planning. Before joining Lignol, Mr. Hughes was Interim CFO of Alderox ACA Inc. Prior thereto, he was Chief Operating Officer of Dynamotive Energy Systems, a biofuels company and was formerly Co-Founder and Chief Operating Officer of Tersus Energy Inc., a public renewable energy company based in the UK. About Lignol Lignol (TSX-V: LEC) is a Canadian company undertaking the development of biorefining technologies for the production of fuel-grade ethanol and other biochemical co-products from non-food cellulosic biomass feedstocks. Lignol's modified solvent based pre-treatment technology facilitates the rapid, high-yield conversion of cellulose to ethanol and the production of value-added biochemical co-products, including a High Purity Lignin (HP-L(TM)). Lignol is executing on its development plan through strategic partnerships to further develop and integrate the core technologies on a commercial scale. Lignol also intends to invest in, or otherwise obtain, equity interests in energy related projects that have synergies with its biorefining technology. For more information about Lignol, please visit our website at www.lignol.ca. Caution concerning forward-looking statements: Certain statements contained in this document may constitute "forward-looking statements". When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "investigate", "looking at" as they relate to Lignol or its management, are intended to identify forward-looking statements or information. Such statements or information reflect Lignol's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors could cause Lignol's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or information, including among other things, those risk factors which are discussed elsewhere in documents that Lignol files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company expressly disclaims any intention or obligation to update or revise any forward looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. %SEDAR: 00004360E SOURCE: Lignol Energy Corporation Lignol Energy Corporation, Ross MacLachlan, Chief Executive Officer, Tel: (604) 222-9800 ext. 107, Email: info@lignol.ca; The Equicom Group, Bruce Wigle, Investor Relations, Tel: (416) 815-0700 ext. 228, Email:bwigle@equicomgroup.com |
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