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N-Viro International Corporation’s Chairman Of The Board Resigns

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At a meeting of the Board of Directors on July 9, 2015, N-Viro International Corporation (OTCMKTS:NVIC) accepted the resignations of James H. Hartung and Thomas L. Kovacik.

Hartung and Kovacik were not re-elected to a two year term at our annual meeting of stockholders held in November 2014, as most recently disclosed in Item 10 of our Form 10-K filing on April 15, 2015.

Mr. Hartung was our Chairman of the Board and a member of the Compensation and Nominating Committees.

Mr. Kovacik was a member of the Compensation and Technology Committees. Our Chief Executive Officer, Mr. Timothy R. Kasmoch, was appointed as interim Chairman of the Board until a replacement can be appointed. Mr. Gene Richard has assumed oversight duties of Mr. Kasmoch’s expenses during this time.

Also at the board meeting on July 9, 2015, we appointed Mr. Martin S. Jaskel to our Board of Directors as a Class II Director, effective until our annual meeting to be held in 2017. Mr. Jaskel has not yet been appointed to any committees as of the date of this filing.

Mr. Jaskel is currently a Director with European American Capital Services, Ltd., of London, England, an FSA authorized and regulated specialized advisory bank, and has over 40 years of involvement in the financial services industry. He began in the United Kingdom government bond market as a broker with leading firms, latterly as a Partner in W. Greenwell & Co. In 1988 he was appointed Director of Global Sales and Marketing of Midland Montagu Treasury, and in 1990 was appointed Director of Global Sales at NatWest Treasury and was promoted to Managing Director of Global Trade and Banking Services in 1994. He sat on the advisory board of ECGD, the UK export-import bank, and on several government and Bank of England advisory boards. In 1997 he founded a financial services consultancy, which included KPMG Corporate Finance and the corporate FX division of Travelex PLC, and an interim appointment as the Managing Director of a private real estate company with a £500m portfolio. In 2005 he joined European American Capital Services, Ltd. He has wide experience as a non-executive Director of both European public and private companies, and is a 1967 Economics graduate of the University of Manchester, England.

Mr. Jaskel is also a member of the Advisory Board of N-Viro Energy Limited, our development and capital-sourcing entity headquartered in the UK. At present, NVIC holds 45% of the Class C voting shares that select directors for Limited. Michael P. Burton-Prateley, who is also one of our board members, is the beneficial owner of 20% of Limited Class C stock and one of their Directors. The initial Directors of Limited include Timothy R. Kasmoch and Robert W. Bohmer, our Executive Vice President.

N-Viro International Corporation owns and licenses the N-Viro Process, a technology to treat and recycle wastewater sludge and other bio-organic wastes. The Company’s business focus is to market its N-Viro Fuel technology, which produces a renewable alternative fuel product out of certain bio-organic wastes. The N-Viro Process utilizes certain alkaline by-products produced by the cement, lime, electric utilities and other industries. Its N-Viro Fuel technology converts waste products being landfilled or land applied into renewable energy solutions. The N-Viro Process is commercially utilized for the recycling of wastewater sludge from municipal wastewater treatment facilities. The Company’s N-Viro Fuel is a biomass alternative energy fuel process that produces a product that has physical and chemical characteristics similar to certain coals and is created from municipal bio solids, collectable animal manure, pulp and paper sludge and possibly other organic wastes.

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Source: http://marketdailynews.com/2015/07/15/n-viro-international-corporations-chairman-of-the-board-resigns/


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