RNS Number : 6924F
Mercom Oil Sands Plc
19 June 2012
19 June 2012
Mercom Oil Sands Plc (AIM: MMO)
("Mercom" or "the Company")
Appointment of Joint CEO
Mercom Oil Sands Plc, the oil exploration and development company focused on Canadian oil sands, is pleased to announce the appointment of John Zorbas (41), as Joint CEO of the Company, alongside Kim Berknov the current CEO, with immediate effect.
Based in Toronto, Canada, John will focus on identifying and negotiating additional acquisition targets in line with Mercom's roll-up strategy of Canadian oil sands assets. In addition, he is well placed to increase the profile of the Company in North America.
John is also the Executive Chairman and managing Director of NWT Uranium Corporation (TSX; NWT), an emerging international company focused on uranium where he is responsible for NWT's international asset portfolio and for planning and implementing strategies designed to maximize investor returns. He is also a director of Stratton Capital Corp (TMX; SNK.P) and ZoCrop Holdings. He is an economics graduate of the University of Toronto.
Patrick Cross, Non - Executive Chairman, commented "The appointment of John significantly strengthens our management team and brings greater sector and local market expertise to the business. Creating a joint CEO structure suits our business which requires a strong presence in both Europe and Canada. Kim will continue to focus on the operations in London and the implementation of the acquisition/ farm-in agreement with Nordic".
Other than the following there are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies:
Current Directorships Past Directorships
NWT Uranium Corporation MGM Productions Group Inc.
Stratton Capital Corporation
ZorCorp Capital Holdings
Starline Capital Holdings
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Mercom Oil Sands +44 (0) 20 7921 0070
Libertas Capital Corporate Finance Ltd +44 (0) 20 7569 9650
Tim Cofman- Nicoresti
Cardew Group +44 (0) 20 7930 0777
Tim Robertson/Alexandra Stoneham
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