CALGARY, Feb. 25, 2014 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSXV:YGR) announces the appointment of Neil Mackenzie and Ted Morton as independent members of the Board of Directors.
Neil MacKenzie is an independent businessman, with more than forty-five years of oil and gas experience. Mr. MacKenzie is a director of various public companies, including Canyon Technical Services, and currently a partner in Blackstone Fluids, an oil and gas drilling fluids company. Mr. MacKenzie held the position of CEO of an oil and gas company from 2004-2007. Mr. MacKenzie co-founded and served as President of Protec Drilling Fluids for twenty-five years before it was sold to Newpark Drilling Fluids in 1998 where he served as a Director and Vice-President.
Ted Morton, B.A. PhD. in political economy, is a former Canadian politician and cabinet minister in the Alberta government. Mr. Morton's various positions in the Alberta Government included Minister of Energy (2011-2012), Minister of Finance and Enterprise (2010-2011), and Minster of Sustainable Resources (2006-2010). Mr. Morton was a candidate for the leadership of the Progressive Conservative Association in its 2006 and 2011 leadership elections. Mr. Morton is currently an Executive-in-Residence at the School of Public Policy at the University of Calgary and Senior Fellow, Energy and Environment, at the Manning Foundation and also serves on the Board of the Alberta Land Institute and the Board of Governors of the Council of Canadian Academies.
Yangarra has granted the new directors options to purchase an aggregate of 1,000,000 common shares at an exercise price of $0.76 per share, pursuant to its stock option plan. All options vest immediately and will expire on February 24, 2019.
In addition, Yangarra announces that W.W. (Chuck) Charlton and Alan T. Pettie have resigned from the Company's Board as of February 24, 2014. Yangarra wishes to thank both Mr. Charlton and Mr. Pettie for their services to the Board of Directors.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
SOURCE: Yangarra Resources Ltd.
For further information:
please contact Jim Evaskevich, President & CEO.