TORONTO, ONTARIO--(Marketwired - Feb. 7, 2017) - - BLACK IRON APPOINTS MICHAEL SPEKTOR, A HIGHLY SUCCESSFUL UKRAINE BUSINESSMAN AND THE FORMER CEO OF UKRAINE BASED VS ENERGY INTERNATIONAL LLC, AS PRESIDENT
- VS ENERGY INTERNATIONAL IS A UKRANIAN CONGLOMERATE WHICH OWNS ONE OF THE LARGEST STEEL MILLS IN UKRAINE AND UNDER MR. SPEKTOR'S LEADERSHIP BECAME ONE OF THE LARGEST DISTRIBUTORS OF ELECTRICITY IN UKRAINE
Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI) is pleased to announce the appointment of Michael Spektor as President of the Company, effective immediately. Mr. Spektor is the former Chief Executive Officer of VS Energy International LLC, a Ukrainian conglomerate with holdings in electricity distribution, multiple hotels, a bank and Dniprospetsstal, which is one of Ukraine's largest steel mills. Mr. Spektor has been actively involved in the development and privatization of Ukraine's energy sector in addition to assisting the Government of Ukraine with the shaping of legislation on energy security. Mr. Spektor is also an active philanthropist who supported the creation of the Open Hearts of Ukrainefoundation to assist needy children, sponsor talented youth and help people through difficult life situations. Matt Simpson, Chief Executive Officer of Black Iron, commented: "We are excited to have Michael join the Black Iron team to help accelerate development of our Shymanivske iron ore project particularly with iron ore prices on the rise. Michael brings with him a proven track record of building successful companies in Ukraine and substantial hands on experience constructing several large projects." In his capacity as President, Mr. Spektor's top priority will be to bring the Shymanivske ore body into production by obtaining all required permits from Ukraine's Government and negotiating contracts with local companies for construction and supply of services. |