Forest Gate Energy Inc. (TSXV:FGE)
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MONTREAL, Nov. 2 /CNW/ --
Symbol & exchange: FGE-V
MONTREAL, Nov. 2 /CNW Telbec/ - Forest Gate Energy Inc. reports it has
appointed L. Derek Lindsay as Chief Financial Officer of the company.
Mr. Lindsay joins Forest Gate from Eloda Corporation, a publicly traded
media software company, where he held the position of Vice President
and Chief Financial Officer from 2008 onward. At Eloda, Mr. Lindsay
was involved in helping arrange equity offerings for the company as
well as spearheading key business development initiatives.
From 2006 to 2008, Mr. Lindsay was Vice President and Chief Financial
Officer at CryoCath Technologies Inc. His various achievements at
CryoCath included implementing a $2.5 million cost reduction program
and assisting with the divestment of a non-core division of the
company. He was also a key architect in transforming an R&D company
into profit-oriented business. On the capital markets side, Mr. Lindsay
was involved in secondary equity offerings and helped to increase the
company's profile among investors and analysts.
From 2002 to 2006, Mr. Lindsay was a partner at Sierra Financial
Corporation, which advised software and digital media on business
development, mergers and acquisitions and on financing and capital
markets-related issues.
Mr. Lindsay was Vice President, Finance & Administration, for Air
Canada's Aeroplan division from 2000 to 2002. He helped Aeroplan
prepare itself for its Initial Public Offering while updating financial
control systems and accounting policies.
From 1994 to 2000 Mr. Lindsay worked at Bell Canada Enterprises (BCE)
and Bell Canada International where he held various senior financial
positions. He was Executive Vice-President and Chief Financial Officer
of Comcel S.A., one of South America's largest cellular phone
companies.
Mr. Lindsay helped initiate Comcel's acquisition of Occell, Columbia's
third largest cellular phone provider for US$355 million. He also
helped arrange a US$300 million debt financing for Comcel.
Mr. Lindsay holds an MBA from the Tuck School of Business at Dartmouth,
Hanover, New Hampshire and a Bachelor of Arts (Economics and French)
from Middlebury College, Vermont.
"Derek is a seasoned and well-rounded financial executive with
international business experience," said Michael Judson, Forest Gate's
President and Chief Executive Officer. "He brings to Forest Gate a
strong background in accounting and financing management. He also has a
lot experience in the capital markets."
About Forest Gate Energy
Forest Gate Energy Inc. is a publicly listed oil and gas exploration and
production, and non-energy resource company trading on the TSX Venture
Exchange under the symbol FGE. The Company is seeking to increase
shareholder value through participation and development of energy and
other resources in Canada and internationally.
FORWARD-LOOKING STATEMENTS
Certain statements regarding Forest Gate, including management's
assessments of future plans and operations and Forest Gate's
anticipated financial performance, may constitute forward-looking
statements under applicable securities laws and necessarily involve
known and unknown risks and uncertainties, most of which are beyond
Forest Gate's control. These risks may cause actual financial and
operating results, performance, levels of activity and achievements to
differ materially from those expressed in, or implied by, such
forward-looking statements.
Such factors include, but are not limited to: the impact of general
economic conditions in Canada and the United States; industry
conditions including changes in laws and regulations including adoption
of new environmental laws and regulations, and changes in how they are
interpreted and enforced; competition; the lack of availability of
qualified personnel; fluctuations in commodity prices; the results of
exploration and development drilling and related activities;
imprecision in reserve estimates; the production and growth potential
of Forest Gate's various assets; fluctuations in foreign exchange or
interest rates; the ability to access sufficient capital from internal
and external sources; and obtaining required approvals of regulatory
authorities.
Neither TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or the accuracy of this
release.
To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/November2010/02/c8086.html
pRobert Kramberger, V-P, Investor Relationsbr/ 1-866-666-3040 br/ a href="mailto:rkramberger@forestgate.ca"rkramberger@forestgate.ca/a br/ a href="http://www.forestgate.ca/"www.forestgate.ca/a/p