CAVU Resources, Inc., which is engaged in the acquisition, exploration, and development of natural resource properties, has appointed Louis Silver as CEO.
Silver has held several senior management and CEO positions in the services, manufacturing and financial services sectors. Mr Silver will focus on the general management, administrative management and strategic corporate financial management functions of CAVU.
William Robinson, Chairman of CAVU Resources, Inc. stated, "We feel that these additions to our management team provide the organizational resources that will supercharge the achievement of our plans and goals in an astute and professional manner. Our management team has negotiated an expandable line of credit to acquire equipment for its current and targeted acquisitions. Increasing our cash flow will also allow us to complete the payment of our vendor debt and move towards eliminating all of our short term debt."
Louis Silver commented, "These financing achievements, executed under favorable terms, will enable CAVU to produce significant cash flow to internally fund our growth as we see our opportunities right now, and to provide funds for shareholder dividends in the not too distant future.
"Additionally, it gives the Company the ability to move forward on the Chisholm Lease immediately and the Hogshooter in the near future. Your new management team is committed to keeping shareholders informed of significant developments and closed transactions in the future, as we endeavor to ensure that shareowners reap the lion's share of the rewards from the upcoming opportunities that CAVU has secured."