Rektron Group Inc. ("Rektron" or the "Company") (CSE:REK.U)(FRA:F75) a global commodities trading house, is pleased to announce that Swapnil Mokashi has been appointed as a director of the Company, effective November 28, 2024. He will also act as the Chairman of the board of directors of the Company (the "Board").
Swapnil Mokashi is a seasoned business professional with a diverse skill set spanning finance, sales marketing, and management. With a solid career, he has honed his expertise across various industries and geographies. In his most recent role as President at Commodities Trading Group (CTG) in Singapore 2017-2018, Mr. Mokashi demonstrated his leadership by overseeing subsidiary functions, developing new business strategies, and fostering relationships with financial institutions. Prior to his tenure at CTG, Swapnil served as Director at CTG Hong Kong Ltd from 2010-2017, where he spearheaded operations in Hong Kong, facilitated business development, and management with financial institutions. Before his international assignments, Mr. Mokashi held key positions in Mumbai, India, including roles at Renewable International LTD, Religare Ltd, and K & A Securties Ltd., paving the way for key deals in the renewable energy sector of over $1 billion. Educated at esteemed institutions such as IIT Mumbai, Mr. Mokashi holds a PGDM (Post Graduate Diploma in Management) and enjoys playing chess and reading. Mr. Mokashi is already an insider of Rektron, as indicated in the Company's listing statement.
"We are thrilled to welcome Swapnil in this capacity as a director and Chairman of the Board," commented Moises Michan Portillo, Rektron COO. "His leadership experience and trusted counsel have been critical to the Company's growth, and we look forward to his continued insights as to Rektron's presence in the commodities trading industry."
In addition, as previously announced in the October 25, 2024 news release, the Company's CEO, Ricardo Phielix and the Company's CFO and Corporate Secretary, Manny Bettencourt have resigned, effective immediately. Suitable replacements will be appointed shortly.
The Company will continue to provide updates on any significant developments relating to the foregoing as required and appropriate.
On Behalf of the Board of Directors, Rektron Group Inc.
The Company is the holding and parent company of Rektron AQ Limited, which is the holding and parent company of DL Hudson Limited. DL Hudson Limited is the trading arm of a group of companies, of which there are several subsidiaries that support the group's global commodity trading operations. The Company is headquartered in Vancouver, BC, while Rektron AQ Limited is headquartered in London, UK.
The Company focuses on maintaining an experienced team of management and traders, extensive geographical and product diversification, trading and logistical expertise, and financial and risk management. The team at the Group is composed of energy and metals traders, City of London and Wall Street bankers. The trading expertise includes principal energy and metals products, particularly ferrous and nonferrous metals, Energy Transition Commodities ("ETC"), recycled metals and crude and Euro VI-compliant refined oil products. The Company transacts across all compliant markets following the international trade regulations and guidelines.
FORWARD‐LOOKING STATEMENTS
This news release contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation (collectively, "forward‐looking statements") that relate to Rektron's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correctand such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Rektron's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking statements. Such risks and uncertainties include, but are not limited to the other factors set forth under "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the Company's final prospectus dated March 4, 2024 and as amended on June 28, 2024 and August 12, 2024. Rektron undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Rektron to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
