NEW YORK, Oct. 05, 2017 (GLOBE NEWSWIRE) -- Petrogress, Inc. (OTCMkts:PGAS) announced today that it has formed an Advisory Board to assist in implementing the Company’s current plans and identifying means to capitalize on future growth opportunities. Among other matters, the Advisory Board will provide counsel with respect to the Company’s corporate governance and capitalization relative to the threshold board qualifications and market capitalization requirements for traditional exchange and on-line trading markets. In addition, the Advisory Board will be tasked with helping develop a comprehensive US and international lobbying and government outreach program to facilitate business plans in the US, the EU and Africa.
The initial appointments are Dr. Christine Warnke, PhD, Washington, D.C., and Dr. Demetrios Z. Pierides, PhD, Nicosia, Cyprus.
Dr. Warnke has professional and commercial experience at the senior most levels of government and industry world-wide. Her global leadership accomplishments in business, government and philanthropy range from commercial achievements in energy related initiatives to advancement of women’s issues in the international community, especially in Africa, Pacific Rim and India. As an executive and law firm senior advocacy expert, Dr. Warnke has three decades of direct experience working with Fortune 100 companies and has developed an expansive knowledge of diverse industries, including energy, textiles, life sciences, financial services and defense. She brings a unique understanding of governance, leadership development and strategic focus from not only serving on for profit and not-for-profit boards but also serving as an advisor to chief executive officers and executive management team members.
Dr. Pierides has long-term experience in operating international business concerns and public company governance. Since 1960, he has been a principal in the Pierides Group, which has operated shipping, banking, insurance and hospitality businesses in and from Cyprus since 1860. He served as a director of the Bank of Cyprus in Cyprus, Greece, the UK and Australia from 1999 to 2006. He was appointed as the Cypriot Honorary Consul General for Sweden in 1968, has held numerous diplomatic posts with an emphasis on commercial development, and has been the recipient of international awards including appointment to the highest echelon that of Grand Officer of the Order of the Star of Italy and the highest rank of Grand Commander of the Order of Honour of Greece. Dr. Pierdes currently devotes significant time as President of the Pierides Foundation, which he founded in 1974; the Foundation established and funds museums, art galleries and a library in Greece and Cyprus.
President and CEO, Christos P. Traios, stated, “Dr. Warnke and Dr. Pierides each bring a rich and useful skill set to Petrogress and will assist me in both positioning the Company for placement on a suitable, investor-friendly trading platform and in navigating relations with critical government units in the US, the EU and Africa. I look forward to their close involvement in the next phase of the Company’s growth.”
About Petrogress, Inc
Petrogress, Inc. owns and operates a fleet of tankers from its base in the historic Port of Piraeus through a series of Marshall Islands subsidiaries. Its principal and CEO, Christos P. Traios, has over 30 years of experience in operating and managing shipping operations from Greece. Currently, the Company’s ships trade off the coast of West Africa, transporting crude oil, distillates and refined products. It is actively seeking expansion opportunities, including in operating and developing natural gas production and transmission facilities along with LNG processing in the U.S., and transport and sales of LNG in Europe.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
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Source: Petrogress, Inc.
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