CALGARY, July 8, 2016 /CNW/ - Gemini Corporation
(GKX-TSXV) is pleased to announce that Mr. Mike Lambert ICD.D, CPA,
CA has been appointed to its Board of Directors. In addition the
Corporation wishes to announce Mr. Chris Podolsky CPA, CA will be
joining the organization as Chief Financial Officer, effective
July 11, 2016.
Mike Lambert is a retired
Executive with extensive experience in leading the finance
functions of large public companies. He possesses a broad exposure
to operations and strategy, and a focus on increasing
organizational efficiency. Mike has held senior finance positions
in public companies that include Black Diamond Group, Parkland Fuel
Corporation, the Forzani Group, and Canadian Pacific Railway
Company. In addition Mike was a Member of the Board of Directors
and Chairman of the Compensation Committee of Yellow Media
(formerly Yellow Pages Income Fund) and was formerly a member of
the Board of Directors and Chairman of the Audit Committee of
Premium Brands Inc.
Chris Podolsky is a senior
financial executive with experience in the energy services sector
as well as engineering and construction companies. He has
over twenty years' experience in senior financial positions, with
fifteen years of experience serving as a Chief Financial Officer or
Controller. Most recently Chris served as the Chief Financial
Officer of Focus Corporation that was later sold to WSP where he
remained as their Senior Vice President, Business Services. His
senior financial and accounting experience as well as business and
strategic skills will help Gemini stabilize and grow in this
complex and difficult economy.
"I am pleased to welcome our new director to the Board as well
as our new CFO to the company" stated Kevin
Beingessner, Gemini's Chairman of the Board. "The future for
Gemini is developing into an exciting opportunity for everyone
involved and we are looking forward to the direction and guidance
to be received from the diverse backgrounds of our new Director and
the management and skills from our new CFO as Gemini adapts and
grows in this environment."
The hiring and appointment of Mr. Podolsky and Mr. Lambert has
resulted In the granting of 12,000 performance share units and
162,500 restricted share units with a vesting date of January 1, 2019. The unit plan is structured to
settle the performance share units by the issuance of shares on the
vesting date.
In addition, the hiring of Mr. Podolsky has resulted in the
granting of 150,000 options to purchase Gemini common shares at an
exercise price that will be determined on the effective date of his
employment. 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 2,074,000 or 2.7% of the 76,882,832 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