Integrated Rail and Resources Acquisition Corp. Announces Changes to Board and Senior Management
November 21 2022 - 4:30PM
Business Wire
Integrated Rail and Resources Acquisition Corp., (NYSE ticker:
IRRX) today announced the appointment of Jason Reeves and Rear
Admiral Ronald “Curt” Copley as new independent directors to the
IRRX board of directors. IRRX today filed a Form 8-K with the U.S.
Securities and Exchange Commission (SEC) disclosing the changes to
the board’s composition adding Reeves and Copley to replace Richard
Bertel, Edmund Underwood, Rollin Bredenberg and Troy Welch who
resigned from the board effective November 30, 2022. IRRX’s sponsor
accepted the resignations of the current board members, who were
originally appointed as independents, but now are considered
insiders. The proposed board changes allow the company to maintain
a majority independent board as required by the New York Stock
Exchange (NYSE).
Following his military service as a commissioned officer in the
United States Army, Reeves worked in the oil and gas industry for
more than 25 years and brings a wealth of energy industry knowledge
and experience. Copley recently retired as a career intelligence
officer from the United States Navy and served as the most recent
commander of the Office of Naval Intelligence (ONI). He also served
previously as the Deputy Director for Operations for combat support
at the National Security Agency (NSA) as well as the Director of
Intelligence for the International Security Assistance Forces
(ISAF) functioning as the senior intelligence officer in the
Afghanistan Theater of Operations. IRRX has also decided to reduce
the composition of the board from seven members to five in
anticipation of forming an expanded board new board with the target
company post-deSPAC.
IRRX signed a Letter of Intent (LOI) and is currently under a
binding exclusivity period with a specific industry target company
and these board changes will bring necessary expertise and
leadership moving forward.
Additionally, IRRX announced Mark Michel, current vice-chairman,
president and chief operations officer, has been promoted to
chairman and chief executive officer. Timothy Fisher, current
senior vice president and chief acquisitions officer, has also been
promoted to vice chairman, president and chief financial officer.
Hank Didier, current vice president of investor relations, has been
promoted to secretary.
The Company is also relocating its headquarters from its current
Fort Worth location to 400 W. Morse Boulevard, Suite 220, Winter
Park, FL 32789 to be closer to its sponsor.
About The Company
The Company is a blank check company formed for the purpose of
effecting a merger, share exchange, asset acquisition, stock
purchase, reorganization, or similar business combination with one
or more businesses. The Company intends to focus its search on
natural resources, railroads and/or railroad logistics companies,
or any combinations thereof. The Company is sponsored by DHIP
Natural Resources Investments, LLC.
Additional Information
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities. Any offers,
solicitations or offers to buy, or any sales of securities will be
made in accordance with the registration requirements of the
Securities Act of 1933, as amended (“Securities Act”). This
announcement is being issued in accordance with Rule 135 under the
Securities Act.
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version on businesswire.com: https://www.businesswire.com/news/home/20221121005920/en/
William Lane wlane@dhipgroup.org or (321) 972-1583
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