Earth Alive CEO Michael Warren Stepping Down

MONTREAL, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Earth Alive Clean Technologies Inc. (TSXV: EAC – “Earth Alive” or the “Company”), a Canadian soil health company that develops and manufactures advanced microbial technology products, today announced that Michael Warren has stepped down from his President and CEO and Director roles and will be leaving the Company to pursue other opportunities. Effective immediately. Mr. Sofronis, who previously served as Chair of the Human Resources Compensation and Corporate Governance Committee and Board member at Earth Alive, has been appointed President and CEO of Earth Alive. Mr. Sofronis is also a board member of Aya Gold and Silver and was directly involved in this company’s turnaround with great success.

Mr. Robert Blain, Chairman of the Board of Earth Alive, commented, “I would like to thank Michael for his involvement and dedication over the last years. On behalf of myself and the Board of Directors, I would like to wish him much success in his future endeavours.”

Commenting on Nikolaos Sofronis’ appointment, Mr. Blain said, “As we advance our journey to expand our commercial activities and grow market share, we need to be sharply focused on operating with excellence, executing our strategies, and continuing to innovate. With this in mind, Nikolaos was the obvious choice to lead the Earth Alive team. His experience with Earth Alive, as well as his impressive record of driving meaningful growth, innovation and operational excellence as demonstrated by his contributions to many organizations in various sectors worldwide, will be an invaluable resource to our Company and its shareholders going forward.”

“I am excited to reunite with the Earth Alive team and look forward to working with them to set a course to further develop a strategic vision to build long-term value for shareholders as we continue to increase operational efficiencies and growth initiatives,” said Mr. Sofronis. “Importantly, I consider this nomination as a key opportunity to continue to improve our operational performance, increase cash flow and create value for our shareholders.”

Mr. Sofronis is a seasoned executive, with a long list of career successes, which have focused mainly on financing, profitability, investor relations, change management and strategic planning to ultimately maximize growth and value for stakeholders. Previously Mr. Sofronis was Chairman of the Board of Directors of Cyprotex PLC, a company with shares listed on the London Stock Exchange’s Alternative Investment Market (AIM). Mr. Sofronis has over 16 years of experience in private banking in the most prestigious institutions in Luxembourg and Switzerland and, for the last 20 years, has been actively involved in the mining sector.

Paula Caldwell St-Onge will be replacing Mr. Sofronis as Chair of the Human Resources, Compensation and Corporate Governance committee and Viviane Yargeau will be replacing Mr. Sofronis as Lead Director.

Earth Alive also announces that, on October 11, 2021, it has granted stock options to purchase an aggregate total of 130,000 common shares of the Company to a member of the management team and certain directors. The options are exercisable at a price of $0.13 per share, have a term of five years, vest immediately and have been granted in accordance with the Company’s stock option plan.

About Earth Alive Clean Technologies

Earth Alive aims to be a key player in world markets of environmentally sustainable industrial solutions. The Company works with the latest innovations in microbial technology to formulate and patent innovative products that can tackle the most difficult industrial challenges, once only reserved to environmentally harmful chemicals and additives. The Company is focused on environmental sustainability in the agriculture industry and dust control for the mining industry. For additional company information, please visit: www.earthalivect.com.