Founder Of Avior Capital And Beechwood Properties Acquire 46% Stake In Independence Energy
May 06, 2015
FOR IMMEDIATE RELEASE May 6, 2015
Daniel J. Schreiber, CEO
G. Darcy Klug, CFO
FOUNDER OF AVIOR CAPITAL AND BEECHWOOD PROPERTIES ACQUIRE 46% STAKE IN INDEPENDENCE ENERGY
Youngsville, Louisiana (OTC: IDNG) – Independence Energy Corp. (“Independence”) announced today that Daniel J. Schreiber (“Schreiber”), founder of California-based Avior Capital LLC (“Avior”), in conjunction with Louisiana-based Beechwood Properties LLC (“Beechwood”), has acquired a 46% ownership interest in Independence Energy Corp. The Company also said Schreiber has been named Independence’s Chief Executive Officer and G. Darcy Klug (“Klug”), the founder and President of Beechwood, has been named the Company’s Chief Financial Officer. Independence previous announced the relocation of its corporate offices to Youngsville, Louisiana.
Mr. Schreiber has served as a director of Independence since March 31, 2014 before recently being named the Company’s Chairman of the Board and Chief Executive Officer. Since 1997 Mr. Schreiber has served as the Chief Executive Officer and President of Avior Capital, LLC. At Avior, Mr. Schreiber sources and structures real estate and corporate finance transactions, and oversees the firm’s investment banking team. Mr. Schreiber began his career at Shearson Lehman where he was a director council member. Mr. Schreiber was initially appointed as a member to the Independence board of directors due to his corporate finance and management expertise.
Mr. Klug is the founder and sole owner of Beechwood Properties, LLC. This company focuses on acquiring, renovating and leasing select commercial and residential real estate. Mr. Klug is also the owner of several other investment companies, including Beechwood Capital Corporation and RedHawk Capital, LLC. Between 2001 and May 2008, Mr. Klug was Executive Vice President (formerly Chief Financial Officer) of OMNI Energy Services Corp., a Nasdaq listed company. From 1987 through May 2001, he was engaged in several private investments in the oilfield service, medical litigation support and manufacturing industries. Between 1983 and 1987, Mr. Klug held various positions with a private oil and gas fabrication company, including the position of Chief Operating Officer and Chief Financial Officer. Prior to 1983, he held various positions with Galveston-Houston Company, a New York Exchange listed manufacturer of oil and gas equipment and held the position of Chief Financial Officer of First Matagorda Corporation, a Nasdaq listed oil and gas exploration company and affiliate of Galveston-Houston Company. Between 1973 and 1979, he was a member of the audit staff of Coopers & Lybrand (now PricewaterhouseCoopers). Mr. Klug is a 1973 accounting graduate of Louisiana State University and, in 1974, was admitted as a member of the Louisiana State Board of Certified Public Accountants, the Texas State Board of Certified Public Accountants and the American Institute of Certified Public Accountants.
# # #
This release may contain forward-looking statements. Forward-looking statements are all statements other than statements of historical fact. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. The words “anticipate,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be,” “potential” and any similar expressions are intended to identify those assertions as forward-looking statements.
Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Further, the Company may make changes to its business plans that could or will affect its results. Investors are cautioned that the Company will undertake no obligation to update any forward-looking statements.