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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Culane Energy Corp Com | TSXV:CLN | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.05 | 0.04 | 0.07 | 0 | 01:00:00 |
Culane Energy Corp. (TSX VENTURE:CLN) ("Culane") is pleased to announce that at its annual and special meeting of shareholders held on June 21, 2010, Culane's shareholders approved all matters proposed by management, including re-electing Messrs. Jim Brown, Glenn Carley, Don Nelson, Don Staus and Harley Winger as directors of Culane. Following the meeting, Culane's directors also agreed to appoint Darren C. Stark as an additional director for the ensuing year, subject to approval by the TSX Venture Exchange. Mr. Stark is a Canadian trained lawyer with 18 years of international experience, the past 10 residing in Barbados. He had spent 7 years with Royal Bank of Canada, Global Private Banking, and had been their Managing Director in both Barbados and the Cayman Islands. Currently, and for the past 5 years, he has been the President and Chief Executive Officer of Oxbridge Bank & Trust SCC ("Oxbridge"), also based in Barbados. Oxbridge is a significant shareholder of Culane's common shares. Mr. Stark received his Bachelor of Commerce and Bachelor of Laws degrees from the University of Saskatchewan, Canada, and his Master of Laws from the University of London, UK. Mr. Stark is a member of the Law Society of Alberta, Canada, the Turks and Caicos Islands Bar Association, International Tax Planning Association, Society of Trust and Estate Practitioners (former Chairman of the Barbados Branch) and holds the Canadian Securities Course designation. In addition, Tom Field, Culane's Vice President, Engineering and Operations was also appointed as Chief Operating Officer of Culane. About Culane Energy Corp. Culane Energy is a junior oil and gas company engaged in the exploration, development and production of oil and natural gas in Alberta and Saskatchewan. Reader Advisories Forward-Looking Statements: This news release contains certain forward-looking statements that involve substantial known and unknown risks, uncertainties and assumptions, certain of which are beyond Culane's control. Such risks, uncertainties and assumptions include, without limitation, those associated with oil and gas exploration, development, exploitation, production, marketing, processing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. Culane's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Culane will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Culane's operations and financial results are included in reports, including Culane's annual information form for the financial year ended December 31, 2009, on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). All subsequent forward-looking statements, whether written or oral, attributable to Culane or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Culane does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
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