CALGARY, Sept. 30, 2014 /CNW/ - MATRRIX Energy Technologies Inc. ("MATRRIX" or the "Corporation") (TSX-V: MXX) and its board of directors are pleased to announce the appointment of Jason James as the Corporation's new Vice President Finance and Chief Financial Officer, effective immediately. Mr. James is a Chartered Accountant with 17 years of corporate finance, accounting and business development experience in the oil and gas industry. Most recently Mr. James was the controller of several private oil and gas companies. Prior thereto, from June 2007 to August 2013, Mr. James was an officer and director of a public (TSXV) oil and gas company with North American and international operations. Mr. James is also a director of a public (TSXV) international oil and gas E&P and midstream company. As CFO, Mr. James will be responsible for finance, accounting, and investor relations, with a focus on strategy and business development.
Consistent with this appointment, the Corporation has granted options to purchase an aggregate of 170,000 common shares pursuant to the Corporation's stock option plan at an exercise price of $0.82 per share ("Options"). All Options are subject to vesting as to one third a year from the date of grant, one third two years from the date of grant and the remaining third vesting three years from the date of grant. Once vested, the options can be exercised and have an expiration date that is one year from the date of vesting. The grant of Options is subject to applicable stock exchange and regulatory approvals.
President Richard T. (Rick) Ryan states, "We welcome Jason to our executive team within the MATRRIX organization. His talent and experience will serve the Company well in this key strategic position."
MATRRIX Energy Technologies Inc. is engaged in the business of delivering high performance horizontal and directional drilling technology and services, to Oil and Gas Clients in North America, in a safe and responsible manner. The Corporation's shares trade on the TSXV under the symbol MXX.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: MATRRIX Energy Technologies Inc.
For further information: Richard T. (Rick) Ryan, President & Chief Executive Officer, MATRRIX Energy Technologies Inc., Tel: (403) 984-5062