Agricon Global Corporation Announces a New Board Chairman and Discontinued
Operations in Ghana
LEHI, UT -- (Marketwired) -- 06/06/14 -- Agricon Global Corporation
(Agricon) (OTCQB: AGRC) announced today the election of Soren
Jonassen as a new chairman of the board of directors. Mr. Jonassen
was nominated to fill the position following the resignation of James
U Jensen, who resigned from the board of directors of the company in
March to pursue other interests.
Mr. Jonassen has served as a director of the company since April
2012. Mr. Jonassen is an experienced professional with over 25 years
in audit profession in Denmark. He was appointed as certified public
accountant in 1996 and served as audit manager for Arthur Andersen
until 1996 and has been serving as audit partner in Crowe Horwath
Denmark since 1996. Mr. Jonassen is a CPA and holds a degree of
master in business economy from Copenhagen Business School.
Mr. Jonassen has served as CEO of Crowe Horwath where he was also
International liaison partner establishing a professional world-wide
network. During his professional work he has assisted start-ups and a
large number of small to midsized companies, including assisting with
IPOs in Denmark and USA. Mr. Jonassen has specialized in IFRS public
reporting and conversion process. He has been an adviser in large M&A
transactions, and has been co-founder of a number of private
companies in Denmark in a number of different sectors.
The Company also announced that it was not successful in raising the
capital necessary to pursue its planned farm operations in Ghana, and
will cease operations of its wholly owned subsidiary, Agricon SH
Ghana Limited, in the very near future. Bob Bench, President, said:
"It is very disappointing after having spent substantial time and
money on such a great project; however, without sufficient capital
for execution of farming operations in Ghana, the Company must move
forward to find other opportunities."
The Board of directors also approved the sale of up to 14,000,000
common shares for up to $350,000 to be issued in a private placement,
and the issuance of up to 13,200,000 shares in settlement of
liabilities of its obligations, in preparation for future
acquisitions and/or merger opportunities, which the Company has not
identified at this time.
About Agricon Global Corporation
Agricon is a development stage
smaller reporting public company that has most recently focused on
acquiring land for agricultural operations in Ghana West Africa. The
Company will no longer pursue that strategy and will prepare to look
for other opportunities that will preserve and increase its present
Statements about the expected timing,
and all other statements in this press release, other than historical
facts, constitute forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements.
Forward-looking statements speak only as of the date hereof and are
based on current expectations and involve a number of assumptions,
risks and uncertainties that could cause actual results to differ
materially from those projected. A number of the matters discussed
herein that are not historical or current facts deal with potential
future circumstances and developments which may or may not
materialize. This press release speaks only as of its date, and
except as required by law, we disclaim any duty to update the
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