Green Innovations Ltd. (OTCMKTS:GNIN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On November 20, 2017, the members of the Board of Directors (the “Board”) of Green Innovations Ltd., a Nevada corporation (the “Company”), appointed Ms. Alyce Schreiber as Interim Chief Executive Officer, President, Secretary and Treasurer, effective immediately upon the removal of Gerard Danos by the Board as disclosed below.
Below is a description of the professional work experience of Ms. Schreiber.
Alyce Schreiber, Age 53, Interim President, President, Secretary and Treasurer, Member of the Board of Directors
Since July 2015, Ms. Schreiber has been employed by TCA Global Credit Master Fund, LP, where she manages many strategic projects and evaluates overall operations. She is primarily responsible for overseeing regulatory compliance policies and procedures. Prior to July 2015, Ms. Schreiber was president of her own management advisory firm since 2001, specializing in business growth and funding strategies, mergers and acquisitions, divestitures and strategic management services for small and midsize private and public companies across industry and market segments. Ms. Schreiber started her career as a Tax Specialist with Laventhol & Horwath, a national accounting firm, before joining various public and private companies in the US as an officer and director, including specialty finance companies engaged in lending activities related to consumer finance and mortgage banking.
Ms. Schreiber holds a Bachelor of Science in Business Administration with a concentration in Accounting from Boston University and a Juris Doctor degree from Benjamin N. Cardozo School of Law and is a member of the New York Bar.
Removal of Interim President
On November 20, 2017, the Board, with approval from a majority votes of shareholders, removed Gerard Danos as Interim Chief Executive Officer, President, Secretary and Treasurer, effectively immediately.
Appointment of Director
On November 20, 2017, the Board, with approval from a majority vote of shareholders, appointed Gregory Felix as a member of the Board.
Below is a description of the professional work experience of Mr. Felix.
Gregory Felix, Age 46
Since March 2017, Mr. Felix has been employed by TCA Global Credit Master Fund, LP, where he oversees the distressed loans for the Fund and works to turnaround these underperforming companies. Prior to joining TCA, Mr. Felix has spent more than 15 years in various areas of finance and accounting, building a wealth of knowledge targeted at non-performing loans, restructuring of troubled companies, and creating asset recovery and workout strategies.
Mr. Felix holds a Bachelor of Science from Drexel University and Masters of Business Administration from Temple University.
Removal of Director
On November 20, 2017, the Board, with approval from the majority votes of shareholders, removed Mr. Gerard Danos as a member of the Board, effectively immediately.
Family Relationships
Ms. Schreiber, Mr. Danos and Mr. Felix do not have a family relationship with any of the officers or directors of the Company.
Related Party Transactions
There are no applicable related party transactions.
Compensatory Arrangements
None.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
None
About Green Innovations Ltd. (OTCMKTS:GNIN)
Green Innovations Ltd. (GNIN) is engaged in importing, selling and distributing bamboo-based and other green hygienic products. GNIN’s subsidiary, Green Hygienics, Inc., imports and distributes bamboo-based hygienic products and other paper products in North America through a licensing agreement with American Hygienics Corporation. GNIN’s product lines includes bath tissue, paper towels, facial tissue, napkins, wet wipes, biodegradable diapers, feminine care, office paper and other products. For certain retailers, GNIN would market its products under the Sensational Bamboo, Noov or Clearly Herbal brands. It offers various bamboo pulp-based products, such as Bamboo bath tissue, Bamboo paper towels and Clearly Herbal baby wipes. GNIN’s other products include the Virgin from tree Paper product range under the Noov brand; baby wipes and cosmetic wipes under its Premium Formulations (PF) range of products, and recycled products, such as bath tissue under the Sensa brand.