Graphite Energy Corp. Announces Appointment To The Board Of Directors And Share Consolidation
Vancouver, B.C. (March 6, 2019) – Graphite Energy Corp. (CSE: GRE, OTC: GRXXF, FWB: G0A) (the “Company”) is pleased to announce Rod Campbell appointed to the board of directors, replacing Bonnie Kagna.
Rod Campbell brings over 30 years of business experience predominantly in the finance and oil and gas sectors. He is primarily responsible for working with the team that oversees the strategic direction of the company and he will be collaborating with Senior Management to develop various strategies and policies for the company.
Prior to joining the Graphite Energy team, Mr. Campbell worked as a Stock Broker at BMO Nesbitt Burns for many years where he formed solid relationships and gained vast knowledge of the finance industry. In addition to his experience in the finance industry, Mr. Campbell also worked in the Oil and Gas sector for 17 years where he handled Procurement and development of the fuel business for many industry leaders such as Encana, Apache Corporation, Canadian Hunter Exploration, Elbow River Resources, ERS, and MP Energy. During his years in the Oil & Gas industry, Mr. Campbell achieved many milestones and continued to develop his relationships throughout Canada and the US. Most recently, Mr. Campbell built a wholesale business in Alberta and was successful in that venture.
Mr. Campbell attended the University of Calgary and later received his F.C.S.I Designation.
The company further announces Bonnie Kagna has resigned from the board of directors. The company wishes to thank Miss Kagna for her valuable contributions to the company and continued success in future endeavors.
In addition to the change in director as mentioned above, the Company proposes to complete a consolidation (the “Consolidation”) to enhance the competitiveness of the Company within the financial community.
The Consolidation is on the basis of one (1) new common share (each a “Share”) for every ten (10) old Shares held and will result in the Company having 2,816,020 Shares issued and outstanding. A new CUSIP and ISIN number will be issued. Registered shareholders of the Company will receive a letter of transmittal from the Company’s transfer agent with instructions for exchanging their pre-consolidation shares. Shareholders who hold their shares through a broker or other intermediary will not need to complete a letter of transmittal. The Company will not issue any fractional Shares as a result of the Consolidation but will round up or down to the nearest whole Share. In addition, all existing warrants of the Company will be reduced by factor of ten, with the exercise price increased by a factor of ten, and all other warrant terms remaining the same.
For further information, please contact:
About Graphite Energy Corp.
Graphite Energy Corp. is a Canadian-based issuer listed on the Canadian Securities Exchange. It is currently engaged in the business of exploration of mineral properties in Canada and holds the right to acquire a 100% interest, subject to certain royalties, in and to the Lac Aux Bouleaux Graphite Property located near the town of Mont-Laurier in Southern Quebec. The Lac Aux Bouleaux Graphite Property consists of 14 claims covering an area of 738.12 hectares. The Company's objective is to explore and, if warranted, develop the Lac Aux Bouleaux Graphite Property in addition to the acquisition of additional mineral properties.
ON BEHALF OF THE BOARD OF GRAPHITE ENERGY CORP.
/s/ “Adrian F.C. Hobkirk” Adrian Hobkirk, President and Chief Executive Officer, Director
For further information, please telephone: (714) 316-3272
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. The Company has provided the forward-looking information, including statements relating to the Company’s intention to complete the Offering, in reliance on assumptions that it believes are reasonable at this time. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the Offering may not close for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities) or that the terms of the Offering may differ from those that currently are contemplated. The Company does not undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.