Westcore Announces Participation in Drill Program on Riverside Lands and Change in Officers and Directors
13 6월 2014 - 7:43AM
Marketwired
Westcore Announces Participation in Drill Program on Riverside
Lands and Change in Officers and Directors
CALGARY, ALBERTA--(Marketwired - Jun 12, 2014) - Westcore Energy
Ltd. ("Westcore" or the "Company") (TSX-VENTURE:WTR) is pleased to
announce it has exercised its right of first refusal to participate
in additional wells drilled by Allstar Energy Limited ("Allstar")
on the Riverside Lands located 16 km north of the Town of Leader in
Western Saskatchewan. The right of first refusal was granted by
Allstar to Westcore in the farm-in agreement dated July 24, 2012.
Please see Westcore's press release dated July 25, 2012 for more
information respecting the farm-in agreement.
Pursuant to the exercise of the right of first refusal Westcore
will earn an approximately 15% working interest in a well to be
drilled on the Riverside Lands in consideration of funding $300,000
of the program costs. Westcore may fund a greater amount of program
costs and in return would earn a larger working interest. Westcore
continues to have an ongoing right of first refusal to participate
in future wells drilled on the Riverside Lands, if any.
New Directors and Officers
The Company announces the resignation of Shane Shircliff and
Derek Batorowski as directors and officers of Westcore. Both Mr.
Shircliff and Mr. Batorowski are leaving the Company to pursue
other endeavors. The remaining board members and management of
Westcore sincerely thank Mr. Shircliff and Mr. Batorowski for their
contributions during their time with the Company. We wish them well
in their future endeavours.
The board of directors of the Company has appointed Mr. Andrew
Davidson and Mr. Tom MacNeill as directors of Westcore in order to
fill the vacancies created by the resignation of Shane Shircliff
and Derek Batorowski. Additionally Mr. Davidson will also be
appointed as the Vice-President and Chief Operating Officer of
Westcore and Mr. Jeff Sheppard will be appointed as the Chief
Financial Officer.
Mr. Andrew Davidson is the Chief Financial Officer of 49 North
Resources Inc., a Canadian resource investment company
headquartered in Saskatoon. A graduate of the University of Calgary
(BComm) and also a Chartered Accountant, Mr. Davidson has
significant experience in junior resource company finance and
corporate structure. Mr. Davidson currently sits as an officer or
director of several other listed entities.
Mr. Tom MacNeill is the President and Chief Executive Officer of
49 North Resources Inc. With over 25 years experience in resource
investment, Mr. MacNeill is also an officer and director of several
other resource entities. He holds a bachelor degree in economics,
and is a Chartered Financial Analyst and Certified General
Accountant.
Mr. Jeff Sheppard is the Corporate Controller of 49 North
Resources Inc. A graduate of the University of Saskatchewan
(BComm), Mr. Sheppard is also a Chartered Accountant. Mr. Sheppard
has significant experience in junior resource company finance and
corporate structure. Mr. Sheppard is also the Chief Financial
Officer of Greywacke Exploration Ltd.
The existing board members welcome the addition of Mr. Andrew
Davidson, Mr. Tom MacNeill and Mr. Jeff Sheppard.
Reader
Advisory
Except for statements of historical fact, this news release
contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. In particular, forward-looking information
in this press release includes, but is not limited to, the use of
the net proceeds of the offering. Although we believe that the
expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will
prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same,
in whole or in part, as those set out in the forward-looking
information.
Forward-looking information is based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
information. Some of the risks and other factors that could cause
the results to differ materially from those expressed in the
forward-looking information include, but are not limited to:
general economic conditions in Canada, the United States and
globally; industry conditions, governmental regulation, including
environmental regulation; unanticipated operating events or
performance; failure to obtain third party consents and approvals,
if and when required; the availability of capital on acceptable
terms; the need to obtain required approvals from regulatory
authorities; stock market volatility; competition for, among other
things, capital, skilled personnel and supplies; changes in tax
laws; and the other risk factors disclosed under our profile on
SEDAR at www.sedar.com. Readers are cautioned that this list of
risk factors should not be construed as exhaustive.
The forward-looking information contained in this news
release is expressly qualified by this cautionary statement. We
undertake no duty to update any of the forward-looking information
to conform such information to actual results or to changes in our
expectations except as otherwise required by applicable securities
legislation. Readers are cautioned not to place undue reliance on
forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Westcore Energy Ltd.Paul ConroyPresident and Chief Executive
Officer(306) 653-2692
Westcore Energy (TSXV:WTR)
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