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Profire Energy Engages Dorsey & Whitney as Outside Counsel

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LINDON, Utah, Oct. 21, 2013 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (OTCBB:PFIE), a technology company which manufactures, installs and services burner management systems and other combustion technologies for the oil and gas industry, today announced that it has engaged international law firm Dorsey & Whitney as the primary legal counsel for the Company. Dorsey & Whitney is recognized as one of the 100 largest law firms in the United States.

"As Profire has grown over the years, we have faced a number of new growth opportunities—a trend we expect to continue in the future," said Andrew Limpert, Chief Financial Officer of Profire. "With this growth, we anticipate encountering legal issues of increasing complexity and magnitude, as most growing companies do. For this reason, we have engaged Dorsey & Whitney to provide expert legal counsel on a wide range of issues. Together with our expanding Board of Directors, we have a strong team to help us navigate the years ahead."

Dorsey & Whitney operates from 19 offices with over 500 attorneys throughout the world who specialize in over 60 areas of law, including: capital markets, corporate and securities law, mergers and acquisitions, and tax. The Company's primary points of contact will be:

  • Sam Gardiner (Partner and head of the firm's Salt Lake City Corporate Department). Mr. Gardiner serves as the co-chair of the firm's Mergers and Acquisitions practice group. His practice focuses on mergers and acquisitions, corporate finance, securities, and corporate governance. He has extensive experience in mergers and acquisitions involving both public and private companies, representing both buyers and sellers in various industries.
  • David Marx (Partner). Mr. Marx focuses his practice on corporate and securities law, and has extensive experience in advising companies from their initial formation to an eventual sale or initial public offering. His experience includes advising public and private companies in connection with venture capital financings, mergers and acquisitions, executive compensation, SEC reporting and regulatory matters, Sarbanes-Oxley Act compliance, NASDAQ and NYSE uplisting and compliance matters, and general corporate counseling and governance.

The Company's current counsel of Poulton & Yordan, a Salt Lake City firm that has served as the Company's counsel since 2007, will continue to perform multiple legal tasks for the company.

"Poulton & Yordan has done a tremendous job in representing Profire," said Limpert. "While our growth has necessitated a larger, more-specialized firm, we will continue to use Poulton & Yordan to provide ongoing legal services to the Company. We thank them for a job well-done, and look forward to continuing our relationship in the years ahead."

To learn more about Profire Energy or its products, please contact Profire Energy, or visit www.ProfireEnergy.com.

About Profire Energy, Inc.

Profire Energy assists energy production companies in the safe and efficient transportation, refinement and production of oil and natural gas. As energy companies seek greater safety for their employees, compliance with more stringent EPA standards and enhanced margins with their energy production processes, Profire Energy's burner management systems are increasingly becoming part of their solution. To learn more about the company's products and services, please visit www.ProfireEnergy.com. Profire Energy has offices in Lindon, Utah; Houston, Texas; and Edmonton, Alberta, Canada.

Cautionary Note Regarding Forward-Looking Statements. Statements made in this release that are not historical are forward-looking statements. This release contains forward-looking statements, including, but not limited to statements regarding future growth opportunities, the Company facing legal issues of increasing complexity, future growth that is expected to necessitate a larger, more specialized legal team, and the Company's future relationship with either legal team. All such forward-looking statements are subject to uncertainty and changes in circumstances. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include certain economic, business, public market and regulatory risks and factors identified in the company's periodic reports filed with the Securities Exchange Commission. All forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are made only as of the date of this release and the company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.

CONTACT: Profire Energy, Inc. Andrew Limpert, CFO (801) 796-5127 Profire Energy, Inc. Nathan McBride, Finance & Communications (801) 796-5127 RedChip Companies, Inc. Brendan Hopkins 1-800-RED-CHIP (733-2447), ext. 134

Source:Profire Energy