Frankfurt Exchange: DFM
ST. JOHN'S, Feb. 8 /CNW/ - Canadian Imperial Venture Corp. ("CIVC" / the
"Company") announces that Steven M. Millan, Chairman, President and
CEO, will retire from his current positions in the Company effective
today, February 8, 2011. Mr. Gerard Edwards, current CFO, will assume
the positions of CEO and President in addition to his responsibilities
as CFO. The position of Chairman of the Board of Directors will be
assumed by current independent Board member Robert G. Smiley who also
chairs the Compensation and Audit Committees. While Mr. Millan will
cease to be engaged in the day to day business of the Company, he will
continue to be accessible on a consulting basis for special
"It has been an honour to have been a part of the CIVC team and it has
been a hard decision to leave but I feel now is the time. The Green
Point Play is advancing and I am confident the rest of the team will do
a fine job of leading it into production," Steve Millan, former CEO and
President of CIVC.
"Steve has played a leading role in CIVC over the past 15 years, and
indeed, in Newfoundland's oil industry since 1973. His contribution to
the industry and his profession of geoscience was publically
acknowledged by his Award of Merit from PEG-NL and the Outstanding
Contribution Award from NOIA. We will miss his guidance and are happy
that we can continue to call on his assistance from time to time," said
Robert Smiley, CIVC Chairman.
Canadian Imperial Venture Corp. is an independent Canadian-based energy
company, a leader in the Green Point oil-in-shale play. Eastern Canada
is the home to such developments as the Hibernia, Terra Nova, White
Rose, Sable Island, Deep Panuke, and McCully fields.
CANADIAN IMPERIAL VENTURE CORP.
By: "Gerard Edwards"
Gerard Edwards, MBA
Chief Executive Officer
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ACCURACY OF THIS PRESS RELEASE.
This release includes certain forward looking statements which reflect
beliefs, expectations, objectives and goals which are believed to be
reasonable at the time such statements are made. Actual results could
differ materially from anticipated results and may be impacted upon
such factors as commodity prices, political developments, legal
decisions, market and economic conditions, industry competition, the
weather, changes in financial markets and changing legislation.
SOURCE CANADIAN IMPERIAL VENTURE CORP.
For further information:
Canadian Imperial Venture Corp.
P.O. Box 6232, Stn. C
St. John's, NL A1C 6J9
Tel.: (709) 739-6700 / Fax: (709) 739-6605 / E-mail: firstname.lastname@example.org / website: www.canadianimperial.com