VANCOUVER, June 26, 2019 /CNW/ - CruzSur Energy Corp. (the "Company" or "CruzSur") (TSXV: CZR), is pleased to announce the appointment of Ms. Marianella Bernal Parada as Chief Financial Officer of the Company. The appointment follows the resignation of Mr. Chris Reid as Chief Financial Officer.
In conjunction with severance payment settlements with Mr. Reid and another employee, the Company intends to issue an aggregate of 814,814 common shares at a price of $0.27 per share as partial severance settlements. The Company has also terminated the Royalty Agreement between Dexton International Ltd. and Patagonia Oil Corp. and have agreed to issue 925,925 common shares at a price of $0.27 per share to Dexton International Ltd. as a settlement for a $250,000 royalty due, subject to TSX Venture Exchange approval.
The Board would like to thank Mr. Reid for his support and contribution to the Company and wish him every success in his future endeavors.
About CruzSur Energy Corp.
CruzSur Energy Corp. is a publicly traded E&P company focused on proven oil & gas plays in Latin America. The Company holds a large diversified portfolio of producing, development and unexploited assets in Colombia and Argentina where it will leverage its amplitude of technical expertise and proven track record building companies and creating value.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CruzSur Energy Corp.
For further information: CruzSur Energy Corp., Serafino Iacono, Interim CEO, Marianella Bernal Parada, CFO, Tel: (604) 609-6110