Carnegie Development, Inc. announced that effective July 7, 2020, each of John S. Butler, Geoffrey S. Connor and Sada Cumber, Directors of company since September 23, 2019, resigned as a Director of the Company, as well as all positions with any subsidiary entities, and Sada Cumber tendered his resignation as Chairman of the Board of Directors of the Company. Each of Messrs. Butler, Connor and Cumber noted that their respective resignations are not the result of any disagreement with the Company, its management, the Board or any committee of the Board. Effective as of July 7, 2020, stockholders of the Company holding 97.2% of the voting power among all stockholders of the Company appointed Tim Barton as Chairman of the Board of Directors until his respective successor is duly elected and qualified.