ABBOTSFORD, BC, April 25 /CNW/ - First Choice Products Inc. (CNSX: FCI)
(the "Company") held its Annual General Meeting on March 31st, 2011 at which time the shareholders elected the following board of
directors: Mr. Robert A. Sim, Mr. Brian E. Sims, Mr. Norman Rempel and
Ms. Linda Peters. Also approved was the proposed future vend out of the
existing consumer products business to a private group of past
management and directors. The consumer products business will continue
as the current focus until such time as the vend out can be
The shareholders also approved a motion that the directors actively seek
opportunities to pursue the
acquisition of new projects before the aforementioned divesture takes
To accomplish that directive the Company is incorporating a wholly owned
subsidiary to pursue opportunities in the energy sector. This will
enhance the activities and future value of FCI. Upon completion of the
subsidiary company it will act as a junior oil and gas exploration and
development company with its purpose to acquire, explore and develop
oil and gas prospects in western Canada.
The Company on behalf of its wholly owned subsidiary is reviewing
several projects in central Alberta as its initial opportunity in the
energy sector and hopes to finalize a commitment shortly. The wholly
owned subsidiary will act independently subject to approvals of the FCI
board of directors and management. Details of any project that the
subsidiary acquires or participates in will be announced in due course.
The Company's common shares are listed for trading on the Canadian
National Stock Exchange (CNSX) under the trading symbol "FCI".
On Behalf of the Board: Robert A. Sim, President
THE CANADIAN NATIONAL STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Safe Harbour Statement and Disclaimer:
This Press Release includes "forward-looking statements". A statement
identified by the words "expects", "projects", "plans", and certain of
the other foregoing statements may be deemed forward-looking statements. Although First Choice Products Inc.
believes that the expectations reflected in such forward-looking
statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities
and results to be materially different from those suggested or
described in this press release. These include risks inherent in the development and production of oil wells, including risks
of fire, explosion, blowout, pipe failure, casing collapse, unusual or
unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil
production activities, which may temporarily or permanently reduce
production or cause initial production or test results to not be indicative of future well performance or delay the timing of
sales or completion of production operations; risks with respect to oil
prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce
production levels; and risks relating to the availability of capital to
fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines
in oil prices and other risk factors.
SOURCE First Choice Products Inc.
For further information:
FIRST CHOICE PRODUCTS INC.
#6 - 2076 Townline Rd., Abbotsford, B.C. V2T 6E5
Toll-Free (866) 719-2988 Fax (604) 853-3119