Allied Energy Appoints Mr. Seth M. Shaw as Chairman and Chief Executive Officer Effective Immediately
January 02 2008 - 8:15AM
PR Newswire (US)
NEW YORK, Jan. 2 /PRNewswire-FirstCall/ -- Allied Energy
Corporation (OTC Pink Sheets: AGYP) has today announced the
appointment of Mr. Seth M. Shaw as Chairman of the Board of
Directors ("Chairman") and Chief Executive Officer ("CEO"). In this
capacity, Mr. Shaw will focus on day to day operations, securing
requisite capital for proposed transactions, and completing the
definitive merger agreement with Starfield Minerals Ltd. At this
time Mr. James Porter, CPA will remain as President, Director, and
Chief Financial Officer. Personal Biography for -- Seth M. Shaw:
Mr. Shaw is an experienced organizer of private placement funding
from institutional investors. He built his financial industry
experience at major firms such as American International Group
(AIG) Global Investment Group, Harvest Capital Management and
DoubleClick, Inc. In April of 2005, Mr. Shaw founded Novastar
Resources Ltd. to focus on the acquisition of thorium properties,
with the vision of the metal thorium being utilized as a more
efficient, non-proliferative source of nuclear fuel, at a future
point. Mr. Shaw assisted the Corporation in raising more than $17.5
million from top-tier institutional investors and was instrumental
in the successful completion of the merger between Novastar
Resources and Thorium Power. Mr. Shaw was retained as the Director
of Strategic Planning to maintain Institutional Investor Relations
for the firm until April 2007. He remains as a consultant to the
company at the present time. Since March 2007 Mr. Shaw has also
held a position at Uni-Pixel, Inc., handling institutional investor
relations. In this capacity, he has assisted management in
enhancing market awareness with top tier institutional investors.
Previously Mr. Shaw helped form the biotechnology startup,
Physician Therapeutics, LLC, in early 2004. He served as Interim
Chief Financial Officer for more than one year, arranging the
company's initial financing and assisting in the structuring and
negotiation of joint ventures. That Company was subsequently
acquired by Targeted Medical Pharma and generates substantial
annual revenues. Mr. Shaw graduated from Cornell University in 2001
with a bachelor's degree in Policy Analysis Management and a
concentration in Econometrics. Mr. Shaw sits on the boards of the
Cypress Fund for World Peace and Security in Washington, D.C. and
the Jewish Community Center ("JCC") in Dutchess County, New York.
About Allied Energy Corporation: Allied Energy Corporation
(OTC:AGYP) is a publicly traded Company actively seeking a
potential acquisition target within the natural resources sector.
On October 31, 2007 the Company entered into a Memorandum of
Understanding to acquire Starfield Minerals Ltd. or its assets.
Starfield Minerals Ltd. owns a Zambia, Africa based tin and
tantalite deposit (the "Starfield Mine") in the vicinity of Choma,
Republic of Zambia. Forward Looking Statements (SAFE HARBOR): This
press release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements may include the description of our
plans and objectives for future operations, assumptions underlying
such plans and objectives, statements regarding benefits of a
proposed acquisition and other forward-looking terminology such as
"may," "expects," "believes," "anticipates," "intends," "projects"
or similar terms, variations of such terms or the negative of such
terms. There are a number of risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements made herein. Such information is based upon various
assumptions made by, and expectations of, our management that were
reasonable when made but may prove to be incorrect. All of such
assumptions are inherently subject to significant economic and
competitive uncertainties and contingencies beyond our control and
upon assumptions with respect to the future business decisions
which are subject to change. Accordingly, there can be no assurance
that actual results will meet expectations and actual results may
vary (perhaps materially) from certain of the results anticipated
herein For more information, please contact: Investor Relations:
Mr. Antonio Treminio Tel: +1-212-315-9705 Email: DATASOURCE: Allied
Energy Corporation CONTACT: Investor Relations, Mr. Antonio
Treminio, +1-212-315-9705, , for Allied Energy
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