Zedcor Energy Inc. Announces Changes to its Board of Directors; Appointment of a President and Chief Executive Officer; Grant of Stock Options and Deed of Gift of Common Shares

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Zedcor Energy Inc. Announces Changes to its Board of Directors; Appointment of a President and Chief Executive Officer; Grant of Stock Options and Deed of Gift of Common Shares

Canada NewsWire

CALGARY, Jan. 15, 2018 /CNW/ - Zedcor Energy Inc. (the "Company" or "Zedcor") (TSX VENTURE: ZDC) 

Zedcor Energy Inc. (CNW Group/Zedcor Energy Inc.)

The Board of Directors announced today that Mr. J. Blair Goertzen has submitted his resignation as a director of the Company, due to the demands of his other work commitments.  Mr. Goertzen is the President, Chief Executive Officer and a member of the board of directors of Enerflex Ltd.  With over 40 years in the energy services industry, Mr. Goertzen played an integral role in shaping Zedcor since joining the Board of Directors in August 2014 and the Company has benefited greatly from Mr. Goertzen's expertise. The Board of Directors and the Company sincerely thank Mr. Goertzen for his time, services and the valuable contributions he made during his tenure as a director.

The Board of Directors of Zedcor is pleased to announce the appointment of Mr. Andy Purves as a director of the Company.  Mr. Purves is currently the Senior Principal, Oil & Gas at Stantec Inc. and has over 41 years of progressive experience in all phases of the oil and gas industry, including 23 years with Cimarron Engineering Ltd., an engineering consulting company that specialized in the development, design, installation and integrity maintenance of oil and gas pipleline systems and station facilities.  As a senior member of Stantec's pipeline engineering team, Mr. Purves provides leadership and technical advice to major projects, specializing in the areas of design engineering, estimation and project construction management.  Mr. Purves's expertise will greatly benefit Zedcor as the Company expands its market reach and customer base beyond its historical upstream oil & gas customers to new market segments including industrial facilities and pipeline construction. 

The Board of Directors of the Company is also pleased to announce the appointment of Mr. Ian H. McKinnon to its Board of Directors as well as the appointment of Mr. McKinnon as President and Chief Executive Officer of the Company. Mr. McKinnon has over thirty years of experience in the oil and gas industry in mergers and acquisitions, business development and financing. Mr. McKinnon's established experience and leadership in all his previous ventures within the oil and gas industry provides a tremendous resource to the Company, one that will further Zedcor's growing success.  With Mr. McKinnon's appointment as President and Chief Executive Officer, Mr. Brad Munro will step down as Interim Chief Executive Officer, but will remain as Chairman of the Board.

The Board of Directors is also pleased to announce that options to purchase 75,000 common shares of the Company were granted to a director of the Company and options to purchase 500,000 common shares of the Company were granted to an officer of the Company, all with an exercise price of $0.25 per share. The options have been granted pursuant to the Company's 10% rolling stock option plan and will expire five years from the date of grant. All of the options will vest as to one third thereof on each of the first, second and third anniversaries of the date of grant.

Mr. Dean Swanberg, a controlling shareholder and a director of Zedcor, through his wholly owned company D.S.S. Holdings Inc., has gifted to Mr. McKinnon 500,000 common shares of Zedcor, which gift vests over a three year period, with 1/3 of the gift vesting on each of the first, second and third anniversary dates of the January 15, 2018 gift, provided that Mr. McKinnon is at the applicable date of vesting, then an executive officer of Zedcor.

About Zedcor Energy Inc.

Zedcor Energy Inc. is a Canadian public corporation and parent company to Zedcor Energy Services Corp. ("Zedcor Corp."). Zedcor Corp. is engaged in the rental of surface equipment and accommodations to the Western Canadian Oil and Gas Industry. The Company trades on the TSX Venture Exchange under the symbol "ZDC".

Neither 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 Zedcor Energy Inc.

View original content with multimedia: http://www.newswire.ca/en/releases/archive/January2018/15/c7930.html

Copyright CNW Group 2018

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