CLEVELAND, OHIO – (June 1, 2023) – MALACHITE INNOVATIONS, INC. (OTC Mkts: MLCT) (“Malachite” or “Company”), a public company focused on improving the health and wellness of people and the planet, today announced the continued expansion of its senior leadership team with the hiring of Dr. Erick Carlson as its new Riparian Ecologist, Patricia Missal as its new Corporate Controller, and Reese Fields as its new Business Development Manager.

Dr. Erick Carlson, Riparian Ecologist
The Company has engaged Dr. Carlson to serve as a consultant to the Company’s environmental services businesses, with a particular focus on its Terra Preta business unit. He will assist the Company’s senior management team in developing innovative solutions to reclaim lands and restore waterways in Appalachia.

Dr. Carlson is a riparian ecologist with expertise in human influenced aquatic systems.  Dr. Carlson brings his experience with GIS mapping, landscapes, chemistry and botany to every problem.  He has partnered with the US Forest Service, National Park Service, and industry groups to solve environmental problems.  He is a former college professor and current middle school science teacher at a private all-boys school.

Dr. Carlson earned a B.S. in Plant Biology and Geography from Michigan State University and his Masters and Ph.D. degrees in Ecology from Colorado State University.

Patricia Missal, Corporate Controller
Ms. Missal has been retained as a consultant to serve as the Company’s Corporate Controller, a newly-created position. She will be responsible for all accounting, financial reporting and cash flow analysis involving Malachite’s numerous operating businesses.

Ms. Missal has over 30 years of professional experience serving in various executive roles, including as Chief Financial Officer and Chief Operating Officer.  She is currently the Founder and Managing Director of The Numbers Group, LLC, a consulting firm focused on transitional financial management and financial advisory services.  Previously, Ms. Missal was a Director with Aurora Management Partners, and a Principal with Bridge Associates and Newmarket Partners, all of which are financial advisory firms.

Ms. Missal earned an M.B.A. from Cleveland State University and a B.A. from Ashland University.  She is also a Certified Public Accountant and a member of numerous professional organizations, including the American Institute of Certified Public Accountants and the Turnaround Management Association.

Reese Fields, Business Development Manager
Mr. Fields has been retained as a consultant to assist the Company with sourcing new business opportunities and facilitating investor networking events.

Mr. Fields founded the Columbus Area Family Exchange, a member-only private club for family offices and ultra-high net worth individuals with at least $100 million in net worth.  The club provides education, resources and strategic connections through regular meetings, roundtable discussions and a speaker series.  Mr. Fields also founded Columbus Venture Partners, a consulting firm that focuses on M&A transactions in the manufacturing and real estate industries.

Michael Cavanaugh, Malachite’s CEO, commented, “Malachite has achieved rapid growth in its operating businesses after launching our new impact investing strategy over a year ago.  We are achieving record sales levels quarter-after-quarter, significantly improving our operating cash flow, and methodically building fundamental value within each of our operating businesses.  To capitalize on these early successes and properly position Malachite for continued future growth, we are committed to recruiting additional mission-driven, talented individuals that fit squarely within our team-orientated culture that emphasizes professionalism, respect and integrity.”  Cavanaugh continued, “Erick, Patty and Reese bring to Malachite their deep professional expertise, team-orientated approach, and firm commitment to making a difference.  Our entire organization is thrilled to have such high-caliber professionals embrace our vision for the future and enthusiastically welcomes Erick, Patty and Reese to our growing team.”

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 environmental, social and health 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 make a 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@[64:ff9b::a763:e8d1]


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