Adventure Minerals Inc. Appoints New President
BLAINE, Wash., Nov 2, 2000 (BUSINESS WIRE)
Adventure Minerals Inc. (the "Company")(OTCBB:AVML)
Is pleased to announce the appointment of Mr. Rowland Wallenius, as its new President.
Mr. Wallenius has already begun to work with the Board of Directors to focus the Company on the enormous business potentials of the global environmental and recycling industries. The Company has just completed its merger with Planet Earth Recycling, as announced September 21, 2000.
Mr. Wallenius is to provide strong leadership to corporate structure and operations.
Adventure Minerals Inc. is in the process of changing its name to Planet Earth Recycling Inc., (PERI) to better reflect its new business focus. PERI is structured as an integrated business with several subsidiaries dedicated delivering distinct aspects of the Company's overall mandate.
Two of PERI's subsidiary companies produce steady and attractive cash flow by supplying construction and support services to build, operate and maintain Thermo Master (TM) Plants, Earth Alliance Satellite Centers, transfer stations, water treatment facilities and other such physical plants. These companies may provide services directly, but will more likely oversee the programs and services which are delivered at the local level by local sub-contractors having
the required skills.
The other subsidiaries, Earth Alliance Systems Inc. and Planet Earth Bio Conversion Inc. capitalize on the unlimited potential of waste and recycling markets throughout the world. These two companies are structured to own and operate waste acquisition, recycling, organic waste conversion and commodity brokering businesses to cover the full gamut of recycling opportunities in the marketplace.
The two subsidiaries will hold equity positions in the Company's growing family of plants and businesses as well as create and capture major revenues and profits.
PERI is involved in commodity businesses, whether from Thermo Master (TM) businesses (feed or fertilizer products) or the recyclable plastics, paper, glass, metals and recoverable materials. The function is presently within Earth Alliance, but may be launched as a freestanding subsidiary.
All subsidiary businesses are structured to operate profitably in their own right as distinct entities from the beginning, to ensure that PERI's management can track their performance, simply and effectively, as the Company grows in the coming years.
Mr. Wallenius, a chartered accountant, brings with him years of training at Simon Fraser University and the Institute of Chartered Accountants of British Columbia. He has extensive experience as a corporate controller and auditor. He has been directly involved in the raising of millions of dollars of corporate financing in the public market, and is a strong administrator of corporate operations.
Mr. Wallenius commented upon the Company and his vision for it: "I am pleased and excited to join Adventure Minerals at this key moment. Seldom do you have the chance to build and shape a venture with the potential and ready-made business opportunities that I see in this Company."
Mr. Wallenius continued, "The world has reached a crisis state with respect to the environment. The team we have and that we are building is second to none in knowledge and experience. The technologies we already have, that we will acquire and that we intend to develop are leading edge, state-of-the art.
More importantly, we see the path to sound environmental solutions as profitable business opportunities that will produce answers, on a world scale basis, for today and for tomorrow, while bringing attractive economic returns to the Company and its shareholders."
Certain statements contained herein are "forward looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on the belief of the Company's management, as well as assumptions made beyond information currently available to the Company's management.
Because such "forward looking statements" are subject to risks and uncertainties, actual results may differ materially from those expressed or implied. Such "forward looking statements" include but are not limited to, competitive factors, general economic condition, customer relations, relationships with vendors, government supervision and regulation, product introductions and acceptance, technological changes in industry practices, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.
On behalf of the Board of Directors of:
Adventure Minerals Inc.
"Donald D. Dick"
Donald D. Dick,
Chairman
CONTACT: Adventure Minerals Inc.
Kevin Skett, 360/332-1350
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