m_and_a
confidence high
sentiment neutral
materiality 0.80
Petro USA reports change in control to TradEx Fuel Exchange; new CEO and board appointed
PETRO USA, INC.
- 97.9% control block (4B shares) sold to TradEx Fuel Exchange at $0.00034/share on March 8, 2024.
- Joseph Passalaqua resigned as sole director/officer; Joseph Hoffman appointed President/Director, Lee Cunningham Director.
- Share exchange: TradEx shareholders get one Petro USA share per TradEx share, making TradEx the surviving business.
- New CEO Joseph Hoffman brings energy consulting experience from Shell, Tesoro; also heads TradEx Fuel Exchange.
- Advisory board being filled; includes John Clendenin, former Harvard Business School faculty and retired Lt. Colonel.
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