CALGARY, Sept. 5, 2016 /CNW/ - Trident Exploration Corp. ("Trident" or the "Company") is pleased to announce changes in ownership and introduce its new board of directors.
Upon completion of the Company's recapitalization scheduled for September 6, 2016, certain funds managed by Origami Capital Partners ("Origami"), a registered investment advisor based in Chicago, Illinois with investments of over US$700 million since its inception in 2008, will hold a majority of Trident's issued and outstanding common shares.
Also as of September 6, 2016, the Company's current board of directors will be resigning and a new board will serve Trident going forward.
Trident is pleased to introduce the new members of the board of directors:
- Jeff Young, Managing Partner of Origami. Prior to joining Origami in 2009, Jeff has been an entrepreneur and investor in real estate and technology including founding and selling Young & Associates, a consulting firm that provided infrastructure development services to various telecom and wireless carriers. He holds a Bachelor of Arts from the University of California and a Juris Doctor degree from Santa Clara University School of Law.
- Darren O'Brien, Managing Director of Origami. Darren is principally responsible for sourcing, evaluating and executing investment opportunities in North America and Europe. Prior to joining Origami, Darren held senior positions at the private equity firms of WL Ross & Co. LLC and Brookfield Asset Management. He is registered as a Certified Public Accountant in Illinois and holds a Bachelor of Business Administration in Accounting and Finance from Loyola University and a Masters of Business Administration from Yale School of Management.
- Julie Klaff, Vice President of Origami. Julie manages the creation of legal documents and analysis of Origami's investments particularly involving complex legal issues or scenarios. Prior to joining Origami, Julie has been an associate at Sidley Austin LLP within the investment funds, advisors and derivatives practice group and a real estate analyst with Joseph Freed and Associates. She holds a Bachelor of Science degree in Human Development from Cornell University and a Juris Doctor cum laude from Harvard Law School.
- Eugene Davis, Founder, Chairman and Chief Executive Officer of Pirinate Consulting Group LLC. Gene has managed numerous debtor and creditor side restructurings involving businesses in various industries including sectors ranging from automotive, financial services, energy and mining, healthcare and technology and held key roles throughout these assignments including Chairman, Board Member, Chief Executive and Restructuring Officer roles. Gene also served as Trident's Executive Chairman from 2007 until 2010. He holds a Bachelor of Arts and a Masters of Arts in International Affairs, both from Columbia University and a Juris Doctor degree from Columbia Law School.
- Marc Dworsky, Partner at Munger, Tolles & Olson LLP. Marc's legal practice primarily involves counseling, crisis management including complex and high-stakes litigation in United States federal and state courts nationwide with particular but not exclusive emphasis in the financial sector. He holds a Bachelor of Arts from York University, a Bachelor of Laws degree from Osgoode Hall Law School and a Masters of Laws degree from Harvard Law School.
- Daryl Gilbert, Managing Director of JOG Capital Corp. ("JOG"). Daryl is an independent businessman and investor in the oil and gas sector. Prior to JOG, Daryl served as an independent consultant, petroleum engineer and as President and Chief Executive Officer of the petroleum engineering firm bearing his name Gilbert, Laustsen & Jung Associates Ltd. (now GLJ Petroleum Consultants Ltd.) including coverage of Canadian and international oil and gas projects worldwide. Daryl has also served on Trident's Board of Directors since 2010. He holds a Bachelor of Science in Civil Engineering from the University of Manitoba and is a member of the Association of Petroleum Engineers & Geoscientists of Alberta.
- Alan Withey, President & Chief Executive Officer of Trident. Alan has been the President & Chief Executive Officer of Trident since 2014 and served as Trident's Chief Financial Officer from 2008 until taking on his current position. Prior to joining Trident, Alan served as the senior financial executive with two Canadian public oil and gas exploration and production companies in Canada and in senior financial roles with both United States and Canadian companies within the oil and natural gas extraction sector. He is a Chartered Professional Accountant and a Certified Financial Planner, a past Certified Public Accountant (Illinois) and holds a Bachelor of Commerce from the University of Calgary.
Trident wishes to express its appreciation and to thank its current board of directors for their dedicated service and diligence over the past several years.
Certain information regarding the Company contained herein constitutes forward-looking information and forward-looking statements (collectively "forward-looking statements") under the meaning of applicable securities laws. Forward-looking statements include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, including statements regarding the completion of the recapitalization and constitution of the Trident board. The forward-looking statements contained herein are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the timing of closing for the recapitalization and resignation and appointment of board members. Although the Company believes that the assumptions underlying, and the expectations reflected in, such forward-looking statements are reasonable, it can give no assurance that such assumptions and expectations will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties and the difference may be material. There are many factors that could cause forward-looking statements not to be correct, including, but not limited to, risks associated with market conditions, the ability of Trident to satisfy the remaining conditions to complete the Recapitalization and the ability of the Company to continue as a going concern if the Recapitalization is not implemented, the risks associated with the oil and gas industry in general including operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects, capital expenditures, health and safety considerations, reserves and other estimates and projections of production, revenue and costs. The Company is subject to several influencing factors that increase the variability of potential outcomes and may impact forward-looking statements including uncertainty as to the availability of labour and services, commodity prices and exchange rate fluctuations, weather conditions, general business, economic, competitive, political and social uncertainties, capital market conditions and changes to laws and regulations.
The forward-looking statements contained herein are made as of the date of this release solely for the purpose of disclosing the above information regarding the Recapitalization and prospective activities. Trident may, as considered necessary in the circumstances, update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, however, the Company undertakes no obligation to update or revise any forward-looking statement except as required by law. Trident cautions readers that the forward-looking statements may not be appropriate for purposes other than their intended purposes and that undue reliance should not be placed on any forward-looking statement. Trident's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
SOURCE Trident Exploration Corp.
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For further information: Trident Exploration Corp., Alan Withey, President & CEO, 403-770-0333; Trident Exploration Corp., Jason Baird, Vice President, Finance, 403-770-0333