Infinity Energy Resources, Inc. (OTCMKTS:IFNY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
As reported in its news release issued September 30, 2019, John Loeffelbein, 49, has been appointed by the Company’s Board of Directors as Chief Operating Officer of Infinity Energy Resources, Inc. effective September 30, 2019. Mr. Loeffelbein has over 20 years of oil and gas industry experience in a variety of capacities. He founded Coal Creek Energy, LLC in 2004 to acquire and develop existing and new mineral leases.
Infinity Energy Resources is not a party to any employment agreement with Mr. Loeffelbein. In connection with his appointment as Chief Operating Officer the Board of Directors approved the grant of 2,000,000 restricted shares of common stock effective October 2, 2019. Of the 2,000,000 total restricted shares, 1,250,000 vested immediately and the remaining 750,000 will vest one year after the date of grant, assuming that he remains as an employee of the Company at that point in time. Mr. Loeffelbein will receive no cash compensation for his services for the remainder of 2019 and calendar year 2020. Loeffelbein will also be eligible to participate in all applicable benefit plans offered by Infinity Energy Resources to our senior officers.
A copy of the news release issued on September 30, 2019 announcing the appointment of Mr. Loeffelbein is filed herewith as Exhibit 99.1.
(d) Exhibits.
| 99.1 | Text of Press Release entitled “Infinity Energy Resources Appoints Experienced Oil & Gas Industry Executive as Chief Operating Officer” dated September 30, 2019. |
INFINITY ENERGY RESOURCES, INC Exhibit
EX-99.1 2 ex99-1.htm EXHIBIT 99.1 Infinity Energy Resources Appoints Experienced Oil & Gas Industry Executive as Chief Operating Officer Company Assembling Team for its Exploration and Development Plan Including the Acquisition of 11,…
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About Infinity Energy Resources, Inc. (OTCMKTS:IFNY)
Infinity Energy Resources, Inc. is an independent energy company that focuses on oil and gas exploration offshore of Nicaragua in the Caribbean Sea. The Company is focused on the development of its properties offshore Nicaragua. The Company’s offshore concessions located in shallow waters offshore Nicaragua cover a total of approximately 1.4 million acres, which include its interest in the Perlas Block (approximately 560,000 acres/over 2,270 kilometers) and Tyra Block (approximately 826,000 acres/over 3,340 kilometers). It has conducted an environmental study and developed geological information from the reprocessing and additional evaluation of existing two-dimensional (2-D) seismic data in the Perlas and Tyra concession blocks. The Company has not generated any revenues.