August 10, 2012
RAINCHIEF ANNOUCES AGM RESULTS & PROVIDES SHAREHOLDER UPDATE
For Immediate Release
August 10, 2012 – Vancouver, BC – RainChief Energy Inc. (OTCQB: RCFEF) today announced it held its Annual General Meeting on July 23rd, 2012. The meeting resolved in accordance with the board’s proposal in all of the matters recommended. The annual general meeting resolved in accordance with the nominating committee’s proposal, namely: To re-elect three board members; to re-elect Paul E. Heney as Chairman and CEO, Brad Moynes as President and Robin Lecky as director of the Board. Subsequent to the AGM, Mr. Lecky has resigned from the board of directors effective Aug 9, 2012. The Company would like to thank Mr. Lecky for his services and wishes him success in his future endeavors.
Rainchief’s Board, in conjunction with operating partner Nueva’s President, Norman Mackenzie, has revised the company’s strategic Plan and established three key areas of focus for the balance of the year. These areas are:
1.) Sustainability: Access funds to secure the financial future of RainChief
2.) Exploration: To commence with 2D seismic work on the Gulf Jensen property and define potential drill targets
3.) Proactive Partnerships: To work in a joint effort with other oil and gas companies to develop viable projects
Mr Moynes stated, “Although the global markets and industry-related business communities have experienced tough economic times, the Gulf Jensen Prospect has an obvious vibrancy and we will continue with our plans to persue and explore this exceptional opportunity.”
RainChief Terminates Qualm Management Agreement:
RainChief has terminated its Investor Relations and Consulting agreement with Qualm Management & Advisory Ltd. pursuant to its agreement with Qualm dated February 29, 2012. Under the terms of the agreement, RainChief management has elected to terminate the Qualm agreement.
RainChief Appoints Advisory Board Member:
The company is pleased to announce the appointment of Larry K. Davis to the Advisory Board. Mr. Davis brings over 25 year of experience to the public markets. Mr. Davis owns and operates Bravo International Services, a private VC & IR company formed in 1989. Bravo specializes in raising start-up capital and has provided corporate communications services for numerous public companies in the US and Canada. Brad Moynes, President of RainChief said, “We are very pleased to welcome Mr. Davis to Rainchief’s Advisory Board. Mr Davis will provide assistance to the Company as it proceeds with its proposed work program and exploration plans for the year. Mr. Davis will strengthen our ability to meet our financial objectives and realize our strategic vision for the company’s Gulf Jensen property in New Mexico.”
About RainChief Energy
RainChief Energy is actively engaged in identifying, financing & developing oil & gas energy resource properties in North America, including the development of the Gulf Jensen Oil Prospect in New Mexico. The company continues to review additional resource properties that combine positive elements of short-term exploration & development costs with high potential for long-term success & financial return.
Additional information can be found at: www.rainchief.com
About Nueva Oil & Gas
Nueva Oil & Gas is headed by well-known Canadian oilman, Norman Mackenzie, who is the Founder and Director of C&C Energia. C&C is a publicly traded, independent oil and gas company that trades on the Toronto Stock Exchange [CZE: TSX]. The company’s operations are in Columbia, South America with offices in Bogota, Columbia and Calgary, Canada.
On behalf of the Board of Directors,
RainChief Energy Inc. (OTCQB: RCFEF)
“Brad J. Moynes”
Brad J. Moynes
President
For corporate information, contact:
Brad Moynes at 604-601-2070
For further information, contact:
Larry K. Davis
Phone: (250)-595-7714 or e-mail: info@rainchief.com
RainChief Energy Inc.
885 West Georgia Street, Suite 1500, Vancouver, BC V6C-3E8
T: 604-601-2070 F: 604-683-8125
www.rainchief.com
