ram power corp (RAMPF) Key Developments
Ram Power, Corp. Announces Executive Changes
Apr 20 15
Ram Power, Corp. announced that it has entered into a definitive agreement with Goodwood Inc. in respect of an equity financing and recapitalization transaction. The transaction agreement also provides that, once all other escrow release conditions have been satisfied: the board of directors of the company will be reconstituted to consist of the following five directors: Marc Murnaghan, Jorge Bernhard and Jaime Guillen (each of whom will be a newly appointed director of the company), and Antony Mitchell and James Lawless (each of whom is an existing director of the company); and Marc Murnaghan will be appointed as Chief Executive Officer of the company. Mr. Murnaghan is a partner of Harrington Global Inc. Mr. Murnaghan has over 20 years of experience in the investment banking business and prior to joining Harrington Global Inc. in September 2014, he was Co-Head of the Investment Banking group at Cormark Securities Inc. Prior to his role as Co-Head of Investment Banking, Mr. Murnaghan ran the Power and Alternative Energy group where he helped raise equity capital for companies in the sector in areas such as solar, wind, hydro, geothermal, biomass, power electronics, battery technologies and fuel cells. Mr. Bernhard is a consultant providing services relating to metals trading and risk management. He has sold and traded non-ferrous metals for more than 25 years. Mr. Bernhard was a partner in the joint venture and also served as its Chief Executive Office. Mr. Bernhard served as a director of Dacha Strategic Metals Inc. from November 2012 to September 2014. Mr. Guillen is the Managing Partner at Faros Infrastructure Partners LLC, an investment firm with offices in United Kingdom and United States. He has over 25 years of experience in the development, investment, financing, management and divestiture of energy and infrastructure projects. Mr. Guillen previously served as the Chief Executive Officer of Alterra Partners, an investment joint venture between Singapore Changi Airport and Bechtel, a United States engineering company. He also previously served as the Managing Director of Bechtel Enterprises in Latin America, President of Bechtel Enterprises in Brazil and Director of Bechtel Enterprises of Mexico – responsible for developing, investing in, and managing infrastructure investments.
Ram Power Seeks Fund Raising
Mar 31 15
Ram Power, Corp. (TSX:RPG) is looking to raise funds for its strategic review. Ram Power has received proposals from third parties and continues to work with stakeholders and potential investors as part of a strategic review. Ram Power said in a statement, "Ram Power will need to raise additional capital through the strategic process in order to continue funding operating and exploration and development expenditures."
Ram Power, Corp. Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2014
Mar 30 15
Ram Power, Corp. announced audited consolidated earnings results for the year ended December 31, 2014. For the year ended December 31, 2014, the Company reported revenue of $48.1 million and a total loss and comprehensive loss of $23.9 million, or $0.06 per share, compared to revenue of $46.2 million and a total loss and comprehensive loss of $50.9 million, or $0.17 per share, for 2013. The 4% increase in revenue resulted from the 3% annual tariff increase coupled with a slight increase in production as a result of wells being offline for the San Jacinto drilling remediation program in 2013. For the year ended December 31, 2014, the company had net operating cash inflows of $13.2 million. Operating income was $7,412,741 against $6,031,455 a year ago.
Ram Power, Corp. Auditor Raises 'Going Concern' Doubt
Mar 30 15
Ram Power, Corp. filed its Annual on Mar 30, 2015 for the period ending Dec 31, 2014. In this report its auditor, Deloitte & Touche LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
Ram Power, Corp. to Report Fiscal Year 2014 Results on Mar 30, 2015
Mar 25 15
Ram Power, Corp. announced that they will report fiscal year 2014 results at 5:00 PM, Eastern Standard Time on Mar 30, 2015