Callan JMB Inc. reported that Mark Meller resigned from its board of directors and committee positions effective August 26, 2026. This departure is linked to an Asset Purchase Agreement dated August 19, 2026, under which Callan Power LLC agreed to acquire oil and gas assets from Reger Oil, Inc. The agreement stipulates that upon closing, holders of the Company’s Series A perpetual convertible preferred stock will nominate a replacement director. Meller stated his resignation was not due to disagreements regarding operations or policies. The company also noted forward-looking statements regarding its intent to regain compliance with Nasdaq's Stockholders' Equity Requirement within 45 days. Callan JMB Inc. operates in the oil and gas sector, focusing on asset acquisition and energy investments.
