#Canada #Calgary #Northstar Clean #Greg Phaneuf #Lynda Paananen

Northstar Clean Technologies' New Era of Leadership

In a bold move to enhance its strategic initiatives, Northstar Clean Technologies Inc. has announced significant changes in its senior management team. These appointments aim to capitalize on the company's momentum and lay a robust groundwork for future success.

Key Personnel Appointments

Effective December 2, 2024, Mr. Greg Phaneuf will assume his role as Chief Financial Officer (CFO) and Vice President of Corporate Development. He comes to Northstar with a wealth of experience in corporate finance and M&A, boasting a proven track record in driving strategic growth. Recently, he served as CFO and Senior Vice President of Corporate Development at Grounded Lithium Corp., where he helped secure an impressive $25 million in funding and played a vital role in transformative transactions with major corporations in the mining sector.

Joining him is Ms. Lynda Paananen, appointed as the Corporate Controller. With over 20 years of experience, Ms. Paananen brings substantial expertise in financial governance and compliance reporting, previously directing finance at MEG Energy Corp. Her strategic mindset and operational proficiency are expected to bolster Northstar's financial operations further.

In addition, Ms. Kellie Johnston has been promoted to Chief Legal and Administrative Officer (CLAO). This widened role will see her manage critical functions such as Sustainability, Human Resources, Governance, and Corporate Branding, alongside her continued oversight of legal operations. This promotion underlines her remarkable contributions to Northstar’s journey so far.

Aiming for Excellence

Aidan Mills, President and CEO of Northstar, expressed optimism about these changes, asserting that they represent a new chapter in the company’s growth as it nears the completion of its first commercial facility in Calgary. Mills acknowledged the significant contributions of the outgoing Interim CFO, Christopher Park, ensuring a smooth transition during this essential time for the company.

“Greg and Lynda bring exceptional experience and expertise that will enhance our financial and operational capabilities, while Kellie’s expanded role reflects her important contributions over her time here,” Mills stated.

Grant of Equity Incentives

Further strengthening its commitment to recruit and retain top talent, Northstar announced the approval of an Omnibus Equity Incentive Plan. This includes granting 310,000 Restricted Share Units (RSUs) and stock options to select officers and employees, with the aim of aligning their interests with the long-term success of the company.

Each RSU will convert into one common share upon vesting, and the stock options allow the purchase of one share at $0.28 over a five-year period. These initiatives underscore Northstar's dedication to fostering a cohesive and performance-driven corporate culture.

About Northstar Clean Technologies

Northstar is at the forefront of the clean technology sector in Canada, specifically focusing on the sustainable recovery and reprocessing of asphalt shingles. Their innovative process extracts valuable materials from discarded shingles, diverting them from landfills and turning them into usable resources for construction and other industrial applications. By championing the principles of a circular economy, Northstar aims to lead the industry in asphalt shingle recovery and reprocessing throughout North America.

For ongoing updates and more information about Northstar Clean Technologies, visit www.northstarcleantech.com.

As Northstar embarks on this exciting phase, stakeholders eagerly anticipate the positive impacts of these management changes on the company's operations and overall growth trajectory.