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GreenHunter Resources Announces Senior Management Changes

Stocks in this article: GRH

On January 15, 2014, GreenHunter Resources, Inc. (NYSE MKT: GRH) (NYSE MKT: GRH.PRC) (the “Company”), made certain changes in the Company’s senior management team. The Board of Directors of the Company has accepted the resignation of Jonathan D. Hoopes as a member of The Board of Directors and as Interim Chief Executive Officer, President and COO. Mr. Hoopes has resigned to pursue other opportunities.

The Board appointed Mr. Gary C. Evans, the Company’s existing Chairman, as the Interim Chief Executive Officer and Mr. Kirk J. Trosclair, an existing Executive Vice President, as the Company’s new Chief Operating Officer. Additionally, Larry Covert has been hired and has been appointed as the new Vice President of Investor Relations.

Kirk J. Trosclair presently serves as Executive Vice President for GreenHunter Resources, while also serving as Senior Vice President of Alpha Hunter Drilling, LLC., a wholly-owned subsidiary of Magnum Hunter Resources Corporation. Mr. Trosclair brings more than 21 years of diversified energy experience to GreenHunter Resources. His background includes drilling and exploration, engineering design, oilfield fluid terminal operations, logistics management, construction, and business development. Prior to serving the Company as Executive Vice President, Mr. Trosclair served as Director of Terminal Operations for GreenHunter Resources, Inc. Mr. Trosclair was previously employed as Marine Terminal Project Manager at InterMoor, Inc. located in Fourchon, Louisiana for over two years. Previously, Mr. Trosclair worked for over four years at ExxonMobil U.S. Production as Marine Logistics Planning and Scheduling Coordinator. Mr. Trosclair received his B.A. and A.S. in Petroleum Engineering Technology from Nicholls State University.

Mr. Covert is an energy focused investment professional with 17 years of finance and investing acumen within growth stage companies. He carries a seasoned track record in the oil & gas, alternative energy, technology, and real estate sectors and has raised over $650 Million in private capital. During the last 6 years, Mr. Covert has focused on the energy industry. Larry has structured and raised equity and debt capital for firms through private offerings within the RIA, broker dealer, and family office channels as President and CEO of Energy Hunter Securities, a registered FINRA broker dealer. Mr. Covert’s prior experience was as a Senior Analyst in mergers & acquisitions at Wachovia, a Research Analyst with venture capital firm MILCOM, the Vice President of Texas for CNL Investment Co, Managing Director of mineral rights and royalty acquisition firm GreenBlack Energy, and as Managing Director of a private equity unit of defense firm Fulcra Worldwide. Larry is a member of the Advisory Council of the Brown Foundation Institute of Molecular Medicine, University of Texas Medical School, is a supporter of the Aspen Institute: Energy and Environment Program, and is a frequent speaker regarding energy investing at numerous industry conferences. Larry earned his MBA at Rollins College as Class Officer, a BA in Psychology from the University of Alabama, and also earned a Certificate in Private Equity and Corporate Governance from the Harvard Business School Executive Management Program in Cambridge, MA. Larry Covert has also earned his Series 24 Principal, Series 7 Registered Representative, and Series 63 State Securities licenses with FINRA.

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