SASKATOON, Saskatchewan , June 05, 2018 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSXV:SMI) (FSE:SMK) is pleased to announce that effective June 1st, 2018, Mr. Christopher Ryan has been appointed to the Board of Directors and Mr. Geoff Jones has been appointed as VP of Finance for Saturn.
Mr. Ryan is the Director of Midstream for Tundra Energy Marketing Ltd. (TEML). Prior to that, he was the Director of Operation Services for TEML and Exploitation Engineer with Tundra Oil and Gas. He has published 25 scientific publications, many of which were published during his time as a Research Scientist at the Canadian Light Source Inc.
Mr. Ryan currently sits on the Board for the Canadian Crude Quality Technical Association (CCQTA) as the Director of Midstream, and he is the Co-Chair of the Sampling and Frequency Working Group for the Crude Oil Quality Association (COQA). Mr. Ryan is also an honorary founding member of the Global Institute of Water Security and is on various Canadian Association of Petroleum Producers (CAPP) Committees, specifically the CAPP Equalization Steering Committee and is a voted Working Group member of the Canadian Transportation of Dangerous Goods General Policy Advisory Council for Classification.
Mr. Jones is a graduate of the University of Saskatchewan with a Bachelor of Commerce and he went on to earn his professional designation as a Chartered Professional Accountant. Mr. Jones has shared his business and tax knowledge as manager of assurance and owner managed business. His expertise in includes advising numerous clients in a variety of industries including oil & gas, lawyers, engineers, residential and commercial construction, farm and industrial manufacturing and computer hardware/software design and manufacturing.
The Company also held its annual general meeting on May 31st, 2018, in Saskatoon. Approximately 22 million shares, representing approximately 13.5% of common shares, were represented in person or by proxy at the meeting.
Saturn’s shareholders elected John Jeffrey, Scott Newman, Ivan Bergerman, Calvin Payne and Christopher Ryan as the Company’s directors. The resolutions reappointing Davidson & Co. LLP as auditors, continuing the Corporation into Saskatchewan and the amendment of the stock option plan, as per the Company’s management information circular dated July 5th, 2017 were all approved. Support for these resolutions ranged from 99.5 to 100 per cent of the votes cast. The stock option plan amendment is subject to the approval of the TSX Venture Exchange.
“We have received incredible support from our shareholders in the last year. These investors have entrusted us to re-build Saturn from the ground floor and provided the financial backing to grow this Company from an idea to over $1.0 million in revenue and a cashflow positive first quarter of 2018. We look forward to the year ahead and the continued growth of the Company,” stated John Jeffrey, CEO.
The biographies of Saturn’s board members and more details about the Company are available on www.saturnoil.com .
About Saturn Oil & Gas Inc. Saturn Oil & Gas Inc. (TSXV:SMI) (FSE:SMK) is a public energy Company focused on the acquisition and development of undervalued, low risk assets. Saturn is driven to build a strong portfolio of cash flowing assets with strategic land positions. De-risked assets and calculated execution will allow Saturn to achieve growth in reserves & production through retained earnings. Saturn's portfolio will become its key to growth and provide long-term stability to shareholders.
To learn more, please contact the Company at 1 (306) 955-9946 or visit: www.saturnoil.com
On Behalf of the Board of Directors SATURN OIL & GAS INC.
John Jeffrey, MBA – CEO & Chairman
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. Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
Not for distribution to United States newswire services or for dissemination in the United States.
