GRAND JUNCTION, Colo. (GLOBE NEWSWIRE) — ProStar Holdings Inc. (“ProStar®” or the “the Company”) (OTCQX: MAPPF) (TSXV: MAPS) (FSE: 5D00), a world leader in Precision Mapping Solutions, is pleased to announce the hiring of Joel Sutherland as VP of Corporate Development and Investor Relations. Mr. Sutherland’s responsibilities include creating opportunities for the Company through actions such as mergers and acquisitions (M&A), divestitures, and deals that leverage the value of the Company’s business platform. Mr. Sutherland will also advocate for the Company by attending industry and investor conferences and being the primary contact point for investor relations.
“Prostar has a globally scalable product that has an opportunity to deliver immense value to the construction industry, insurance entities, municipalities, and numerous other clients. Prostar has an exceptional opportunity, and I am very pleased to be a part of the Company’s success.”
Mr. Sutherland, CPA CFA, has two decades of Wall Street experience including working at Bank of America Merrill Lynch as both an Equity Securities Analyst and later in an Institutional Sales role covering Boston and New York based institutional asset managers. After BAML, Joel spent ten years in institutional sales with BMO Capital Markets and CIBC World Markets. He is a graduate of Queen’s University, earned his CPA through PwC, and has the CFA designation.
“I am delighted that Joel has joined ProStar and can focus on creating strategic partnerships, identifying M&A opportunities as well as investor relations. Joel has a very impressive track record and reputation that extends throughout Wall Street, the Canadian capital markets, and beyond,” said Page Tucker, CEO and Founder of ProStar.
The Company entered into a month to month agreement with IOT Sutherland Industrial Inc., a company controlled by Mr. Sutherland, on December 2, 2021, and agreed to pay a monthly fee of US$7,500. In addition, the Company granted Mr. Sutherland 400,000 stock options, exercisable at $0.45 for a period of two years. The stock options vest over a two-year period, 25% every six months.