CALGARY, June 3 /CNW/ - Stealth Ventures Ltd. ("Stealth") is very pleased
to announce that Mr. Murray Smith of Calgary, Alberta, will join the Board of
Directors effective June 3rd, 2008.
Murray Smith is a member of the Energy Advisory Board of TD Securities
Inc. He is also a member of the Board of Shear Wind, a Canadian wind power
electrical generation company. He also maintains a private consulting company,
Murray Smith and Associates. Murray Smith was appointed in January 2005 as the
Official Representative of the Province of Alberta to the United States of
America. He led the Alberta Office in Washington, DC, until returning to
Canada in the fall of 2007. Prior to his diplomatic posting, Mr. Smith served
for twelve years as a Member of the Legislative Assembly in the Province of
Alberta (winning three consecutive elections in Calgary), serving in four
different Cabinet portfolios including Energy, Gaming, Labour, and Economic
As Minister of Energy (2001 to 2004), Mr. Smith was responsible for
increasing international recognition of Alberta's 176 billion barrels of
established oil reserves -- especially its 174 billion barrels from oil sands.
During his tenure, Alberta annual oil and gas royalty revenue rose to over
$9 billion, a record number of wells were drilled (over 20,000), and over
$60 billion in investment was committed to Alberta oil sands projects. Mr.
Smith was also responsible for guiding Alberta's $5 billion electricity sector
from fully regulated to a competitive wholesale generation market. Increased
investment added over 5,000 megawatts in new power, and Alberta became the top
wind generating province in Canada. In his first Cabinet-level post as
Minister of Economic Development (1994 to 1996), Mr. Smith initiated the
largest industrial tax reduction in the province's history. At that time he
was a member of the Cabinet Committee Treasury Board and a main contributor to
the province's debt retirement plan, which led the province to become the
first debt-free jurisdiction in Canada.
As Alberta's representative in Washington DC, Mr. Smith was a
Congressional Nominee for the Presidential Commission: Securing America's
Future Energy (The Energy Policy Act of 2005). He also built a partnership
with the Smithsonian Institution that featured Alberta on the National Mall in
Washington DC, in 2006, as part of the Smithsonian Folklife Festival. It
attracted over a million visitors and garnered national media attention.
During his tenure in Washington DC Mr. Smith testified in Senate and
Congressional Committees on Energy, and he was a frequent commentator and
source for energy analysis for US print and electronic media. He is also a
frequent featured speaker for investor organizations, conferences and
Before running for elected office in 1993, Mr. Smith was an independent
businessman with a number of Alberta-based energy service companies including
drilling fluids, service rigs, oilfield contracting and consulting. In 2006
Mr. Smith was recognized as one of Alberta Venture newsmagazine's 50 most
influential Albertans. He was also recently recognized for his work with the
First Nations of Alberta and made an honorary Chief.
A graduate of the London Business School's Senior Executive Program, Mr.
Smith also holds a B.A. (Economics & Political Science) from the University of
Calgary. He is also a graduate of Notre Dame College in Wilcox, Saskatchewan
and a past President of the College's alumni association.
Mr. Harold Kettleson, who has been a valued Director of Stealth, will be
resigning effective June 2nd, 2008. Stealth management and directors would
like to personally thank Mr. Kettleson for his years of valued input and
guidance to the Company and congratulate Mr. Kettleson on his success in the
Stealth also announces that it has granted incentive stock options to its
new Director, Murray Smith, as well as to certain other directors, officers,
and employees under its incentive stock option plan, entitling them to
purchase up to a total of 1,565,000 shares at a price of $0.98 per share.
Stealth announces that it has retained Clark Avenue Company Inc.
("Clark"), a company controlled by Richard Cohen, to provide consulting and
investor relations services to Stealth. Under the term of this agreement,
Stealth will pay Clark CAD $7,500 per month for an initial six month term, and
has granted Mr. Cohen an incentive stock option entitling him to purchase up
to 300,000 shares at a price of $0.98. This option will vest on a quarterly
basis over a twelve month period.
Stealth Ventures Ltd. is a Calgary-based junior oil and gas company whose
expertise and focus is on "unconventional" gas reserves, such as CBM, shale
gas and tight gas sand reservoirs.
STEALTH VENTURES LTD.
"W. Robert Bell"
W. Robert Bell,
President & CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS
RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS
MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED.
For further information:
For further information: W. Robert Bell, CEO; Mark J. Roth, CFO; Stealth
Ventures Ltd., Tel.: (403) 514-9998, Fax: (403) 514-9995, Emails: