MATRRIX Announces Management Change

CALGARY, Aug. 12, 2014 /CNW/ - MATRRIX Energy Technologies Inc. (MATRRIX or the Corporation) (TSX-V: MXX) today announced that Imran Gulam, its Vice President Finance and Chief Financial Officer (CFO), has resigned from his position as Vice President Finance and CFO, effective September 1, 2014, to accept a position outside the oil and gas industry.

Mr. Gulam was appointed Vice President Finance and CFO of MATRRIX in May, 2012 and has since coordinated the Corporation's financial strategies, assisted the Corporation in maintaining capital markets relationships, and supervised certain administrative functions, including financial reporting, treasury and information technology.

"I would like to sincerely thank Imran for his contributions to MATRRIX " said Richard T. Ryan, President and Chief Executive Officer of the Corporation. "Imran's financial skills and leadership were invaluable to the Corporation through our formative years. On behalf of the Board and the Corporation, I wish Imran the very best in his future endeavors."

MATRRIX has commenced a search for a new CFO and will advise when a suitable candidate has been engaged.


MATRRIX is engaged in the acquisition and supply of horizontal and directional drilling technologies for the oil and gas industry in Canada and the US.

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 Ryan, President & Chief Executive Officer, MATRRIX Energy Technologies Inc., Tel: (403) 984-5062


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