MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
Tuesday June 06 2017
Bellatrix Announces CFO Succession
Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) announces that as part of its succession planning process, Mr. Edward J. Brown, the Company's Executive Vice President, Finance & Chief Financial Officer, will be retiring from the Company, effective June 30, 2017, following more than ten years of service with Bellatrix and its predecessors. The Board of Directors of Bellatrix is pleased to announce that Mr. Maxwell (Max) Lof has accepted the position of Executive Vice President & Chief Financial Officer. Mr. Lof expects to join Bellatrix effective July 1, 2017.
Brent Eshleman, Bellatrix's President & CEO commented, "On behalf of the Board of Directors and management, I want to thank Mr. Brown for his leadership over the years and wish him well in his future endeavors and retirement." Continuing, Mr. Eshleman said, "Max brings a wealth of direct public company and financial executive experience to our Company. His demonstrated leadership and skill set represent a strategic fit as Bellatrix executes on its long term sustainable growth plan."
Mr. Lof is an established financial executive with over 25 years of experience in progressive financial and senior executive roles including 12 years of direct experience as a CFO in both private and publicly traded companies. Most recently, he was the CFO for an energy focused information technology company, and prior thereto, Mr. Lof was co-founder and CFO for both Surge Energy Inc. and Breaker Energy Ltd., both publicly traded western Canadian focused exploration and production companies. Mr. Lof obtained an MBA from the Southern Methodist University and is a CFA® charterholder.
Bellatrix Exploration Ltd. is a Western Canadian based growth oriented oil and gas company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan. Common shares of Bellatrix trade on the Toronto Stock Exchange and on the New York Stock Exchange under the symbol BXE.
SOURCE Bellatrix Exploration Ltd.
DXI Energy Provides AGSM Voting Results
DXI Energy Provides, an upstream oil and gas exploration and production company operating in Colorado's Piceance Basin and the Peace River Arch region in British Columbia, today announced the results of its Annual General and Special Meeting of Shareholders held on June 2, 2017 at the Company’s Vancouver office.
The following sets forth a brief description of each matter which was voted upon at the Meeting and the outcome of the vote:
1. Fix the number of directors to be elected at the Meeting at five (5). Passed
2. To elect the following five (5) nominees to serve as directors of DXI for the ensuing year, or until their successors are duly elected or appointed, subject to the provisions of the Business Corporations Act (B.C.) and by-laws of DXI:
A. Ross Gorrell
3. To approve the re-appointment of BDO Canada LLP, Chartered Professional Accountants, as auditors of DXI to hold office until the next annual meeting or until their successors are appointed and to authorize the Board of Directors to fix their remuneration as such. Passed
4. To approve a non-brokered private placement of up to 58,333,333 common shares at Cdn$0.06 per share to repay outstanding loans to insiders and non-insiders, for payment of deferred salaries to insiders and non-insiders, for payment of historical trade payables and for general working capital. Passed
5. To approve a restructuring of current debt of the Corporation by way of an amendment and restatement, which involves insider’s participation. Passed
“I am very pleased the shareholders have supported the board’s proposals. We have been given the flexibility to prudently address the strong disconnect between the value of our energy portfolio (and other intangible assets) and DXI’s market capitalization. This affirmative vote will allow the management team to immediately put into motion initiatives that will add real incremental value to any transaction chosen by the Company to benefit and protect all stakeholders,” states Robert L. Hodgkinson, Chairman & CEO.
About DXI Energy Inc.:
DXI Energy Inc. is an upstream oil and natural gas exploration and production company operating projects in Colorado's Piceance Basin (25,684 net acres) and the Peace River Arch region in British Columbia (14,444 net acres). DXI Energy Inc. maintains offices in Calgary and Vancouver, Canada. The Company is currently publicly traded on the OTCQB (DXIEF) and Toronto Stock Exchange (DXI.TO).
SOURCE DXI Energy Provides
Sunshine Oilsands Ltd.: Voluntary Announcement - Increase in Shareholding
in the Company by Chairman and Major Shareholder
The Board of Directors of Sunshine Oilsands Ltd. ("the Corporation" or "Sunshine") (HKSE:2012) hereby announces the following:
The Corporation was informed by its major shareholder, Mr. Sun Kwok Ping ("Mr. Sun"), the executive director and chairman of the board of directors (the "Board") of the corporation, that on June 6, 2017, Mr. Sun acquired a total of 5,000,000 shares of the corporation through on-market purchases for an aggregate consideration of HK$1,450,000.
Mr. Sun is confident about the future prospects of Sunshine and the oil industry and believes that there will be continued growth and development of the corporation. Mr. Sun does not rule out the possibility of further increasing his shareholding in Sunshine as he feels appropriate in the future, subject to compliance with applicable legal and regulatory requirements. As a result of the acquisition, Mr. Sun holds 1,277,202,500 shares in the Company, representing approximately 23.26% of the issued share capital of the Company.
ABOUT SUNSHINE OILSANDS LTD.
The Corporation is a Calgary based public corporation listed on the Hong Kong Stock Exchange since March 1, 2012. The Corporation is focused on the development of its significant holdings of oil sands leases in the Athabasca oil sands region. The Corporation owns interests in approximately one million acres of oil sands and petroleum and natural gas leases in the Athabasca region. The Corporation is currently focused on executing milestone undertakings in the West Ells project area. West Ells has an initial production rate of 5,000 barrels per day.
SOURCE Sunshine Oilsands Ltd.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.