16 Apr 2019 07:00
16 April 2019
Highlands Natural Resources plc ('Highlands' or 'the Company')
Board Change
Highlands, the London-listed natural resources company, is pleased to announce that Nick Tulloch has been appointed to the Board as Finance Director and Company Secretary.
Nick is expected to join the Company in the second quarter of 2019, following his release from his current employment. The date will be confirmed in due course. Melvyn Davies, the current Finance Director who helped establish the Company and has served as Director since its formation, will step down concurrently and will be available for a short period thereafter to effect a smooth transition.
Nick is an experienced corporate finance adviser, having worked with companies listed on the London Stock Exchange for over 20 years. He is currently a Managing Director at Cantor Fitzgerald Europe's corporate finance department and has previously held senior positions at several other investment banks and stockbrokers. Nick is based in the UK and, in addition to his duties as Finance Director and Company Secretary, will also support the development of the Company's investor relations strategy.
Robert Price, the Company's Chairman and CEO, said: "Nick has been Highlands' financial adviser for the past four years and therefore already has a very strong working relationship with the team and our strategy. I am delighted to announce his appointment to the Board in the role of Finance Director. He joins Highlands at a pivotal time in our development as we seek to establish ourselves as organic CBD producers in Colorado, USA and I am confident that he will make a significant contribution. I would also like to thank Melvyn Davies for his hard work and invaluable advice since our IPO and wish him all the best for the future."
Listing Rule 9.6.13 disclosures
Highlands confirms that there are no disclosures to be made in respect of Nick for the purposes of Listing Rule 9.6.13.
***ENDS***
For further information:
Highlands Natural Resources plc
Robert Price +1 (0) 303 322 1066
Newgate Communications
Elisabeth Cowell
Fiona Norman +44 (0) 20 3757 6880
Notes to Editors
Highlands (LSE: HNR.L) is a London-listed natural resources company with a portfolio of high-potential assets and technologies. The Company's core projects include:
· Colorado Shale: Highlands holds a 7.5% carried interest in the East Denver Niobrara shale project. East Denver is currently producing from eight wells, with the potential for up to 24 wells in total. At its West Denver project, Highlands holds c. 5,300-acres of leases geologically similar to the East Denver project. This division also includes its patented anti well-bashing technology, DT Ultravert, successfully deployed in the Permian basin in 2018 and Piceance basin in 2016.
· Kansas Gas Resource: 3,457-acres with the first well producing hydrogen-nitrogen with an initial flow rate of 2,581 Mcfpd. Potential for an additional 24 wells.
· Highlands Water Resources: formed to facilitate a range of initiatives focused on easing the water shortage currently being experienced across the US oil and gas industry, and particularly across more arid States such as Colorado. Utilises the E10X modular solar powered water-recycling units. Highlands is also exploring the potential to supply water from its 154,072 acreage in Montana.
· Zoetic Organics: newly formed subsidiary targeting the production of premium organic CBD products into wholesale and retail channels from a 33,000 sq. ft. indoor facility (potential annual harvest of 40,000 hemp plants) and an initial 20-acre outdoor growing facility (potential annual harvest of 50,000 hemp plants).