PHOENIX, AZ -- (Marketwired) -- 07/01/14 --
Core Resource Management, Inc. (PINKSHEETS: CRMI), (www.coreresource.net), announces the appointment of Phillip M. Nuciola to its Board of Directors and his appointment as Chairman of the Board.
Mr. Nuciola has served as President of Capital Markets for Core since January 1, 2014. While serving in this position, he was primarily responsible for a significant reduction in operating costs and the conversion of a majority of the company's outstanding convertible debentures to common stock. He has negotiated new funding for Core from institutional and private sources and has made a significant personal investment.
Prior to joining Core Resource Management, Mr. Nuciola was the Chairman/CEO of PowerOneData (P1DI) International, a US/India Based Advanced Metering Infrastructure (Smart Grid) company. He was responsible for sourcing $30 million in funding for PowerOne. He also served as CEO of American Impact Equity, a privately held investment fund. He maintained senior positions at Cornerstone Partners, Kingsman Capital and later with Sanders, Morris, & Harris and Scottsdale Capital Advisors. Mr. Nuciola has organized and financed numerous Initial Public Offerings and private placements over his 18-year career.
"For the past decade, Phil has been one of the most successful capital raisers in the state of Arizona," said James Clark, Interim CEO of Core Resource Management. "Our shareholders should benefit greatly from the tireless efforts that Phil invests in any project he undertakes. The combination of Phil's capital raising skills, and the oil and gas expertise of Mr. Alex Campbell (Future CEO) should put Core Resource Management on course to become a substantial force in the oil and gas industry."
About the Company: Core Resource Management is a Phoenix-based oil & gas company engaged in the acquisition of existing oil & gas production in partnership with established oil & gas operators in Texas and the Southwest. The Company does not currently engage in direct exploration but will acquire positions of up to 50% in current oil & gas production from well established operators, seeking from time to time, to sell a percentage of their existing production in order to recycle their capital into new leases and wells. Management believes it can maximize value for its shareholders while also negotiating fair and reasonable valuations for its drilling partners.
Forward Looking Statements: Statements which are not historical facts contained in this release are forward looking statements, such as "immediately accretive" that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward looking statements.
The information herein is subject to change without notice. Core Resource Management, Inc. shall not be liable for technical or editorial errors or omissions contained herein.
Core Resource Management, Inc.
Dennis W. Miller
Interim Chief Executive Officer, Director
3131 E Camelback Rd. Ste. 211
Phoenix, AZ 85016
Source: Core Resource Management, Inc.
Released July 1, 2014