Acro Energy Technologies released that Steve Vella will be the company’s new director of business development. Vella will leave the post of COO to immediately start his new director position and focus his efforts, among others, on furthering the national expansion of Acro.
“Steve’s background and experience will be instrumental in our expansion efforts,” said Harry Fleming, chief executive officer of Acro Energy. “We believe we can leverage Steve’s talents as we evaluate current acquisition candidates and decide the order of future acquisitions to the Acro family of companies to create a national footprint.”
In fiscal news, the company announced that it received TSX Venture Exchange approval to close the non-brokered private placement. Acro raised gross proceeds of $436,792 from the sale of 2,361,038 units at CDN $0.185 per unit. One unit is equal to one share in the company and one share purchase warrant, wherein each warrant will enable the holder to purchase one additional share of the company at CDN $0.35 per share for two years following the closing of this private agreement.