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VGS Vgs Seismic Canada Com Npv

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Share Name Share Symbol Market Type
Vgs Seismic Canada Com Npv TSXV:VGS 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 -

VGS Announces New President & CEO and CFO

11/09/2008 7:19pm

Marketwired Canada


VGS Seismic Canada Inc. ("VGS" or "the Company") (TSX VENTURE:VGS) is pleased to
announce two executive appointments.


David Mairs joins VGS as President and Chief Executive Officer, and member of
the Board of Directors. He is expected to begin his new position in mid-October.


Richard White, Interim CEO, says, "We are very fortunate to land someone of
Dave's calibre, which includes executive-level experience here at VGS. His
leadership and marketing skills, as well as strong long-term relationships with
our seismic customers and geophysical contractors will be tremendous assets in
leading the future growth of our company."


Mr. Mairs brings more than 20 years of experience related to the seismic
industry, beginning his career as a mining engineer in 1976, and holding various
technical and sales positions with a significant explosives firm before
co-founding Western Explosives Ltd. in 1987. He served as President and CEO for
Western Explosives and later for its successor company Dyno Nobel Canada Inc.
("DNCI"). Under Mr. Mairs' leadership, DNCI grew from a small seismic explosives
distributor in Western Canada to a national manufacturer and distributor of
explosives to the mining, seismic and construction industries, grossing more
than $200 million in revenue in 2006.


VGS also announces the appointment of Lorraine Myers as its new Chief Financial
Officer. Ms. Myers is expected to begin her new role in late September.


"We are excited that Lorraine is joining our executive team on a full-time basis
after contributing as a consultant for the past nine months," comments Richard
White. "Her experience with public companies, financial budgeting and
forecasting, along with strong finance and banking relationships, will be
important additions to our strategic planning efforts."


Ms. Myers brings significant experience with chartered accounting firms, having
served as a partner of Meyers Norris Penny and Co. and its predecessor firms for
16 years before joining Western Explosives Ltd. as Vice President Finance and
CFO from 1995 to 2007. A Chartered Accountant, Ms. Myers also holds a Master of
Business Administration degree and Bachelor of Commerce degree.


Mr. Scott Milroy, current CFO, will be leaving VGS to pursue other opportunities
and will remain at VGS until mid-October to assist in a smooth transition Mr.
White adds, "While we are delighted that Lorraine Meyers is joining us, we will
miss Scott Milroy, our departing CFO. Scott has done a terrific job at VGS and
we wish him well in his new endeavour."


Dave and Lorraine led the senior management team of DNCI and Western Explosives
through significant growth and development for over thirteen years. Dave
commented "We look forward to leading the VGS team through new challenges and
growth. We hope to develop significant opportunities for growth in value for our
shareholders and the professional and personal development of our VGS team".


Based in Calgary, Alberta, VGS Seismic Canada Inc. identifies, creates and
markets digital seismic data for licensing to oil and natural gas exploration
companies. The Company's growing data library is concentrated in British
Columbia, Southern Alberta and Eastern Saskatchewan. VGS shares trade on the TSX
Venture Exchange under the symbol VGS.


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