American Power Group Announces Corporate Realignment And Senior Management Changes
AMERICAN POWER GROUP CORP (APGI)
NASDAQ:AMEX Investor Relations:
americanpowergroupinc.com/press-releases.html
Company Research
Source: GlobeNewswire
- Migration To A Technology Licensing and Master Distributorship Model Versus Direct Sale Approach To Be Implemented -- CFO Chuck Coppa To Assume Additional Role as CEO -- Commitment For Additional Capital Secured From Several Existing Investors –- Investors Agree To Defer Automatic Conversion of Contingent Convertible Notes Into Series E Preferred - LYNNFIELD, Mass., June 06, 2017 (GLOBE NEWSWIRE) -- American Power Group Corporation (OTCQB:APGI), today announced a corporate wide realignment of its strategic direction, reallocation of resources and reduction in workforce. Neil Braverman, APG’s Chairman stated, “Delays in customer orders resulting from the continuing impact of low priced domestic oil has forced us to reevaluate how we market our dual fuel technology given the realities of the marketplace and our access to near term capital. Our Board of Directors have made the decision to terminate our Chief Executive Officer, Lyle Jensen and realign our business model and overhe
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