Proceeds to Support CGSGI's Job Creation and Economic Development Projects throughout Colombia
VANCOUVER, March 9, 2012 /CNW/ - The Clinton Giustra Sustainable Growth Initiative (Canada) (CGSGI), is pleased to announce that US$1 million was raised as a result of being the main beneficiary of the Pacific Rubiales Colombia Championship presented by Samsung. The golf tournament, which took place in Bogotá, Colombia the week of February 13-19, is one of the country's largest golf events and being the first in the calendar year it is highly anticipated by many in the golfing community. The funds raised from this tournament will be applied to CGSGI's current and new development projects in Colombia. Jose Francisco Arata, President and CEO of Pacific Rubiales Energy, said that "each year Pacific Rubiales chooses a charity whose dedicated work and commitment serve to improve the lives of Colombian people. The money raised through golf entry fees and sponsorships is donated to the chosen charity. Over the past three years we have raised in excess of US$2 million. This year has been our best year to date, as we are donating US$1 million to support CGSGI's efforts in Colombia. This event served to demonstrate, on a global stage, the progressive investment climate and the value of investing in our country in both private and public sector initiatives."
Frank Giustra, Founder of the Clinton Giustra Sustainable Growth Initiative (Canada), "wishes to thank Pacific Rubiales and all those who generously supported and contributed to this event. CGSGI values our long-term alliance with Pacific Rubiales, as they share in our vision of decreasing the wealth gap and increasing employment opportunities for disadvantaged populations. Partnerships similar to this enable us to leverage our resources and increase the impact of our work to benefit disadvantaged populations in Colombia and elsewhere in South America."
ABOUT THE CLINTON GIUSTRA SUSTAINABLE GROWTH INITIATIVE (CANADA)
The Clinton Giustra Sustainable Growth Initiative (Canada) [CGSGI (Canada)] is a registered Canadian charity established in 2007 by philanthropist Frank Giustra. Our mission is to alleviate poverty, improve health care, advance education, and improve the environment in developing nations. CGSGI (Canada) is funded by a $100 million pledge from Mr. Giustra, as well as by the generosity of individual and corporate donors. CGSGI (Canada) partners with organizations that carry out poverty alleviation projects in South America on our behalf. In partnership with the William J. Clinton Foundation, we support projects that focus on market-driven development that creates jobs and increases incomes, and on strengthening factors that enable economic growth, such as health and education. Monitoring and evaluation techniques and tools are an integral part of our results-based program planning and management. CGSGI (Canada) oversees project implementation and, together with our partners, we closely track the progress of all programs through data collection and analysis. CGSGI (Canada) currently supports programs in Colombia, Peru, Haiti and Mexico.
ABOUT PACIFIC RUBIALES ENERGY
Pacific Rubiales is a public company listed on the Toronto and Colombian stock exchanges. The Company is the largest independent oil and gas exploration and production company in Colombia. Pacific Rubiales owns 100% of Pacific Stratus and Meta Petroleum Limited, two Colombian oil & gas operators which operate and own interests in, amongst others, the Rubiales and Piriri oil fields in Colombia's Llanos Basin and the La Creciente natural gas field in northern Colombia. The Company is focused on identifying growth opportunities in almost all the hydrocarbon basins in Colombia, as well as in eastern Peru, and Guatemala. The Company has a strong and growing reserve base, and is maximizing future production prospects through its exploration activities.
Photos from the event can be found at: http://cgsgi.ca/news-and-media/photo-gallery/
Copyright © 2012 CLINTON GIUSTRA SUSTAINABLE GROWTH INITIATIVE (CANADA). All rights reserved.
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