TSX: "ISR" Shares Outstanding: 13,928,084
TORONTO, June 24 /CNW/ - International Sovereign Energy Corp. (the
"Company") reports that at yesterday's Annual General Meeting (the "AGM") held
in Vancouver the dissident slate of nominees was elected as directors of the
The new directors are Eugene Hretzay, Sharad Mistry, John Lokker, Gordon
Ashworth and Peter Proszanski.
Following the AGM, John Lokker was elected Chairman, Eugene Hretzay was
appointed President and CEO and Sharad Mistry was appointed CFO and Secretary.
In his remarks at the AGM, Eugene Hretzay thanked the shareholders for
their overwhelming support and stated: "Our goal is to work for the
shareholders. We are committed to an orderly transition of control and will
shortly constitute an independent committee to conduct a financial and
operational review and thereafter prepare a plan to move forward.
"Again, thank you for your support, your new board is committed to
preserve, nurture and enhance shareholder value."
International Sovereign Energy Corp. is an oil and gas exploration
development and production company with offices in Calgary, Alberta and
Islamabad, Pakistan and is active in the exploration and development of
hydrocarbon reserves in Western Canada and internationally.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Certain
information provided in this press release contains forward-looking
statements that by their nature are subject to numerous risks and
uncertainties and readers are cautioned that actual results may vary
considerably from those forecasted.
Forward-looking statements: This news release contains certain
forward-looking statements, including management's assessment of future plans
and operations, and capital expenditures and the timing thereof, that involve
substantial known and unknown risks and uncertainties, certain of which are
beyond the Company's control. The Company's actual results, performance or
achievements could differ materially from those expressed in, or implied by,
these forward-looking statements and, accordingly, no assurance can be given
that any of these events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what benefits, including the
amount of proceeds, that the Company will derive there from. Additional
information on the Company's operations and financial results are included in
reports on file with Canadian securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com). All subsequent
forward-looking statements, whether written or oral, attributable to the
Company or persons acting on its behalf are expressly qualified in their
entirety by these cautionary statements. Furthermore, the forward-looking
statements contained in this news release are made as at the date of this news
release and the Company does not undertake any obligation to update publicly
or to revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise, except as may be
required by applicable securities laws.
For further information:
For further information: Eugene N Hretzay, President & Chief Executive
Officer, Tel: (403) 263-2472, Fax: (403) 264-7035, Or visit our website at