Rektron Group Provides Management Update

CNW Group

Tue, Mar 25, 2025, 7:24 AM 4 min read

VANCOUVER, BC, March 25, 2025 /CNW/ - Rektron Group Inc. (CSE: REK.U) (FRA: F75) ("Rektron" or the "Company"), a global commodity trading group with subsidiaries that specialize in trading energy, metals, and energy transition commodities, announces that Moises Michan Portillo has been removed from his position as Chief Operating Officer of the Company, effective immediately. Mr. Michan Portillo served as Chief Operating Officer of the Company pursuant to the terms of a consulting services agreement between the Company and Tanridge Capital Limited, which agreement has been terminated.

This decision follows a comprehensive internal review conducted by an investigative committee (the "Committee") established by the Company's Board of Directors in accordance with the Company's corporate governance policies and applicable regulatory requirements. Based on the Committee's findings, the Board determined that this leadership change was in the best interests of the Company.

"Rektron is committed to upholding the highest standards of corporate governance, transparency, and accountability," said Atanas Kolarov, Chief Executive Officer of Rektron. "Following a thorough review process, the Board determined that a leadership transition was necessary to align with the Company's strategic priorities."

Rektron has initiated the process of identifying a suitable replacement for the role of Chief Operating Officer and will provide further updates once available. In the interim, Rektron's senior management team will oversee operational continuity to ensure business stability and strategic execution.

About 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, British Columbia, 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, and finance professionals with expertise from the City of London and Wall Street. The trading expertise includes principal energy and metals products, particularly ferrous and nonferrous metals, recycled metals and Energy Transition Commodities ("ETC"), crude oil and Euro VI-compliant refined oil products. The Company and its affiliates transact across all compliant markets following the international trade regulations and guidelines. Please visit www.rektrongroup.com for further information.

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 correct and 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, other factors set forth under "Risk Factors" in the Company's annual information form for the year ended July 31, 2024 available on the Company's profile on SEDAR+. 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.

SOURCE Rektron Group Inc.