SASKATOON, Sept. 5, 2012 /CNW/ - Rick Wingate, President and Chief Executive Officer for each of FNR Energy Limited Partnership, FNR Energy II Limited Partnership and FNR Energy III Limited Partnership (collectively, the "FNR Energy Group"), is pleased to announce Jason Ratzlaff, CA has been appointed Chief Financial Officer and Secretary for each of the partnerships in the FNR Energy Group effective October 1, 2012.
Mr. Ratzlaff is currently a partner at Salamon Ratzlaff Groenwold Chartered Accountants, a public accounting firm in Saskatoon, Saskatchewan that he co-founded in 2006. Mr. Ratzlaff earned his Bachelor of Commerce in accounting from the University of Saskatchewan, and holds a CA designation (Chartered Accountant) with certification in both Saskatchewan and Alberta. Mr. Ratzlaff has also taken the in-depth tax course with the Canadian Institute of Chartered Accountants. He has over 14 years of public practice experience and over 10 years of experience as an active business owner.
Mr. Ratzlaff will replace Andrew Davidson, CA who has acted as Chief Financial Officer and Secretary of the FNR Energy Group since its inception. We extend our sincere thanks to Mr. Davidson for all of his hard work during his tenure as an officer.
Also. FNR Energy Limited Partnership (the "FNR Energy I") wishes to announce that it has entered into a credit arrangement for a secured revolving credit facility of up to $900,000 (the "Facility"), at an interest rate of prime plus one half percent per annum, with Canadian Western Bank (the "Lender"). FNR Energy I, together with each of its wholly owned subsidiaries, delivered a revolving credit agreement, general assignment of debts, negative pledge agreement and a debenture to the Lender in support of the Facility. The Facility will be used to fund capital expenditures, ongoing operations and general corporate requirements.
Additional information about the Partnership is available at www.sedar.com.
SOURCE: FNR Energy Limited Partnership
For further information:
FNR Energy Inc., as general partner of FNR Energy Limited Partnership
FNR Energy II Inc., as general partner of FNR Energy II Limited Partnership
FNR Energy III Inc., as general partner of FNR Energy III Limited Partnership
President and Chief Executive Officer
306-373-3700 or [email protected]