MALACHITE INNOVATIONS ANNOUNCES EXPANSION OF SENIOR LEADERSHIP TEAM AND ENGAGEMENT OF TWO NEW STRATEGIC ADVISORS

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CLEVELAND, OHIO, Dec. 01, 2022 (GLOBE NEWSWIRE) — MALACHITE INNOVATIONS, INC. (OTC Mkts: MLCT) (“Malachite”), a public company focused on improving the health and wellness of people and the planet, today announced the expansion of its senior leadership team with the hiring of Rebecca Wharton as its new Human Resources Manager and the engagement of Major General James A. Hoyer and Gary G. White as Strategic Advisors.

Expansion of Senior Leadership Team

Rebecca Wharton, an accomplished human resource professional, has joined Malachite as its new Human Resources Manager responsible for payroll, benefits, insurance, recruiting, training and employee relations. Ms. Wharton brings to Malachite over three decades of experience in senior administrative and human resources roles with specific expertise working for public companies with multi-state operations.

“Our entire organization is excited to welcome Rebecca to the senior management team to support our growing portfolio of innovative operating businesses,” stated Michael Cavanaugh, Malachite’s Chief Executive Officer. Cavanaugh added, “Rebecca is well-versed in human resources best practices and dedicated to creating a first-class experience for all of our employees and their families. We are fortunate to add such an exceptional talent to our team.”

Engagement of New Strategic Advisors

Malachite plans to engage Strategic Advisors with diverse backgrounds and unique perspectives who will provide strategic advice and counsel to Malachite’s senior leadership team to help accelerate the profitable growth of its operating businesses and facilitate new connections for future impact investing opportunities. Malachite hereby is pleased to welcome Major General (retired) James A. Hoyer and Gary G. White as its initial Strategic Advisors.

Major General James A. Hoyer is a decorated military veteran with decades of public service who currently serves as Vice President of Economic Innovation for West Virginia University, Senior Mentor for Civil Military Innovation Institute and a member of the Board of Advisors for Fidelis New Energy LLC, a leading developer, investor, and operator of climate impact infrastructure. From 2011 to 2021, General Hoyer served as the Adjutant General, West Virginia Joint Forces Headquarters where he provided command guidance and vision to the West Virginia Army and Air National Guard of more than 6,500 Citizen Soldiers and Airmen. Prior to this role, General Hoyer served as Director, Joint Staff, West Virginia Joint Force Headquarters. General Hoyer began his military career in the West Virginia National Guard as a Cavalry Officer and attended the Special Forces Officer Qualification course and spent over 14 years with the 2nd Battalion, 19th Special Forces Group. General Hoyer’s awards and decorations include the Distinguished Service Medal, Legion of Merit and the West Virginia Distinguished Service Medal. General Hoyer received his undergraduate degree from the University of Charleston, a master’s degree in Management and Public Administration from the West Virginia Graduate College, a master’s degree in Strategic Studies from the US Army War College and a certificate in Identity Management from the Naval Post Graduate School.

Gary G. White has more than fifty years in senior and executive level management in the coal and natural resource industries. Mr. White is currently owner of JRW, LLC, a consulting firm providing transactional, management and governmental services to both public and private entities. Mr. White’s consulting services include advising on innovative non-coal ventures to revitalize, diversify and grow local economies throughout the Appalachian Region. Mr. White served as Interim CEO of Mountain Health Network in Huntington, WV from May 2018 until March 2019, and as Interim President of Marshall University in Huntington, WV from December 2014 through January 2016. Prior to being appointed Interim President at Marshall, he served as Executive Vice President of Blackhawk Mining, LLC, a privately held company engaged in the coal mining business based in Lexington, KY. Prior to joining Blackhawk, he was an employee of James River Coal Company providing assistance to senior management in the areas of mergers and acquisitions, lessor relations, government relations, regulatory affairs and ultimately the sale of non-core properties. Mr. White was President and Chief Executive Officer of International Resource Partners LP from June 2007 until its acquisition by James River in 2011. Prior to that, Mr. White was President and Chief Executive Officer of International Industries, Inc. from 1992 to 2007. Prior to joining International Industries, Mr. White was President and Chief Executive Officer of the West Virginia Coal Association from 1985 to 1992. Mr. White is a Director of United Bankshares, Inc. (UBSI), Chairman of the James H. Harless Foundation, President of the West Virginia National Guard and serves on several other industry, advisory and charitable boards.

Cavanaugh commented, “Our mission to improve the health and wellness of people and the planet is ambitious. To successfully advance such an aspirational mission, Malachite needs to build a deep team of best-in-class professionals who can share their unique knowledge, experience and perspective to help us develop long-term, sustainable solutions to address challenging health, social and environmental problems. The engagement of Strategic Advisors to support our ambitious mission is a significant milestone in building this first-class team, and we are honored to welcome Major General James Hoyer and Gary White to our group. Our entire organization is thrilled to have such prominent and well-respected executives join our team, and we are excited about the positive momentum of our impact investing strategies and the good we can do for others.”

About Malachite Innovations, Inc.

Headquartered in Cleveland, Ohio, Malachite Innovations, Inc. is a public holding company dedicated to improving the health and wellness of people and the planet through a novel and innovative approach to impact investing. Malachite owns and operates a balanced portfolio of operating businesses focused on developing long-term solutions to health, social and environmental challenges, with a particular focus on economically disadvantaged communities. Malachite takes an opportunistic approach to impact investing by leveraging its competitive advantages and looking at solving old problems in new ways. Malachite seeks to thoughtfully allocate its capital into ventures that are expected to be highly profitable to maximize its positive impact on the people-planet ecosystem and generate strong investment returns for its shareholders.

Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements” as that term is defined in Section 27(a) of the Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors that could cause actual outcomes and results to be materially different from those indicated in such statements. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies, timing of clinical trials and product development, business strategy and new lines of business. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Malachite Innovations, Inc.
Investor Relations
P: +1 (216) 304-6556
E: ir@malachiteinnovations.com
W: www.malachiteinnovations.com

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