CALGARY, Jan. 15, 2018 /CNW/ - Zedcor Energy Inc.
(the "Company" or "Zedcor") (TSX VENTURE: ZDC)
The Board of Directors announced today that Mr. J. Blair Goertzen has submitted his resignation as
a director of the Company, due to the demands of his other work
commitments. Mr. Goertzen is the President, Chief Executive
Officer and a member of the board of directors of Enerflex
Ltd. With over 40 years in the energy services industry, Mr.
Goertzen played an integral role in shaping Zedcor since joining
the Board of Directors in August 2014
and the Company has benefited greatly from Mr. Goertzen's
expertise. The Board of Directors and the Company sincerely thank
Mr. Goertzen for his time, services and the valuable contributions
he made during his tenure as a director.
The Board of Directors of Zedcor is pleased to announce the
appointment of Mr. Andy Purves as a
director of the Company. Mr. Purves is currently the Senior
Principal, Oil & Gas at Stantec Inc. and has over 41 years of
progressive experience in all phases of the oil and gas industry,
including 23 years with Cimarron Engineering Ltd., an engineering
consulting company that specialized in the development, design,
installation and integrity maintenance of oil and gas pipleline
systems and station facilities. As a senior member of
Stantec's pipeline engineering team, Mr. Purves provides leadership
and technical advice to major projects, specializing in the areas
of design engineering, estimation and project construction
management. Mr. Purves's expertise will greatly benefit
Zedcor as the Company expands its market reach and customer base
beyond its historical upstream oil & gas customers to new
market segments including industrial facilities and pipeline
construction.
The Board of Directors of the Company is also pleased to
announce the appointment of Mr. Ian H.
McKinnon to its Board of Directors as well as the
appointment of Mr. McKinnon as President and Chief Executive
Officer of the Company. Mr. McKinnon has over thirty years of
experience in the oil and gas industry in mergers and acquisitions,
business development and financing. Mr. McKinnon's established
experience and leadership in all his previous ventures within the
oil and gas industry provides a tremendous resource to the Company,
one that will further Zedcor's growing success. With Mr.
McKinnon's appointment as President and Chief Executive Officer,
Mr. Brad Munro will step down as
Interim Chief Executive Officer, but will remain as Chairman of the
Board.
The Board of Directors is also pleased to announce that options
to purchase 75,000 common shares of the Company were granted to a
director of the Company and options to purchase 500,000 common
shares of the Company were granted to an officer of the Company,
all with an exercise price of $0.25
per share. The options have been granted pursuant to the Company's
10% rolling stock option plan and will expire five years from the
date of grant. All of the options will vest as to one third thereof
on each of the first, second and third anniversaries of the date of
grant.
Mr. Dean Swanberg, a controlling
shareholder and a director of Zedcor, through his wholly owned
company D.S.S. Holdings Inc., has gifted to Mr. McKinnon 500,000
common shares of Zedcor, which gift vests over a three year period,
with 1/3 of the gift vesting on each of the first, second and third
anniversary dates of the January 15,
2018 gift, provided that Mr. McKinnon is at the applicable
date of vesting, then an executive officer of Zedcor.
About Zedcor Energy Inc.
Zedcor Energy Inc. is a Canadian public corporation and parent
company to Zedcor Energy Services Corp. ("Zedcor Corp."). Zedcor
Corp. is engaged in the rental of surface equipment and
accommodations to the Western Canadian Oil and Gas Industry. The
Company trades on the TSX Venture Exchange under the symbol
"ZDC".
Neither 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.
SOURCE Zedcor Energy Inc.
