Mr. Gregory Stewart Joins the Board of Directors International Samuel Closed First Tranche of Non-Brokered Private Placement
INTERNATIONAL SAMUEL EXPLORATION CORP.
8th Floor, 700 West Georgia Street Vancouver, British Columbia V7Y 1G6 Tel: (604) 718-5454; Fax: (604) 646-2054
[email protected]; www.internationalsamuel.com
NEWS RELEASE
MR. GREGORY STEWART JOINS THE BOARD OF DIRECTORS INTERNATIONAL SAMUEL CLOSED FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
January 6, 2012: International Samuel Exploration Corp. (the “Company”) is pleased to announce that Mr. Gregory Stewart has joined the Board of Directors.
Mr. Stewart is an independent businessman based in Calgary, Alberta. Over the last 25 years Mr. Stewart has been engaged in the management and leadership of several private companies. These range from oilfield equipment leasing to venture financing of oil and gas exploration projects. Two private investment vehicles are engaged in the business of listed company equity investment. Strong organizational, research and analytical abilities are the skills which have been developed over these years.
Public company involvement includes 11 years as a director of Algonquin Oil & Gas Limited ( PetroShale Inc. Feb. 2012 ) during which time he served as Chairman and CEO from February 2008 to April 2010.
The Board of Directors and Management would like to thank Mr. Robert Krause, who resigned to pursue other interests, for his time and service to the Company.
On another matter, the Company announces that it has closed the first tranche of its previously announced non-brokered flow through unit financing.
The Company issued 400,000 flow through units (“FT Units) at $0.10 per FT Unit. Each FT Unit consists of one common share and one-half of one non-flow-through share purchase warrant. Each whole warrant will entitle the holder to subscribe for one additional non-flowthrough common share of the Company at a price of $0.25 per share for a one year period from the closing date.
All the securities issued in connection with this closing carry a legend restricting them from trading until May 1, 2012.
The proceeds of this private placement will be used for the purpose of carrying out the exploration programs on the Company’s British Columbia properties.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson
President & CEO
For further information, please contact: [email protected]
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.