Strata-X Appoints New Chief Financial Officer and Appoints a New Corporate Secretary in Canada
DENVER, COLORADO USA, BRISBANE, QUEENSLAND AUSTRALIA and VANCOUVER, BRITISH COLUMBIA CANADA . May 21, 2013 (Pacific Daylight Time-Canada)-
The directors and management of Strata-X Energy Ltd. (“Strata-X” or the “Company”) (TSX.V:SXE) (ASX:SXA) are pleased to announce the appointment of David L. Hettich as Chief Financial Officer (“CFO”) of the Company and the appointment of Shaun Maskerine as the Company’s Canadian Corporate Secretary.
Prior to joining Strata-X as CFO, David Hettich provided consulting services to the Company in a variety of positions including Controller and Land Manager. Mr. Hettich has a depth of financial and project management experience spanning the energy spectrum. Mr. Hettich earned a B.B.A. in Banking and Financial Economics from the University of North Dakota and is an active member in multiple North American oil and gas associations. Mr. Hettich is a Registered Petroleum Landman (RPL) with the American Association of Petroleum Landmen. Mr. Hettich has been granted options to acquire 200,000 (TSX-V) shares of the Company at an exercise price equal to CAD$0.30 per share. The options vest over a 13-month period, are exercisable for a period of 10 years, and are subject to the terms and conditions of the Company’s stock option plan.
The appointment of Mr. Hettich as CFO of the Company and the resignation of the Company’s prior CFO, Timothy Bradley, is part of a planned transition by Strata-X’s Board of Directors. The resignation of Mr. Bradley as CFO was accepted by Strata-X’s Board of Directors as of the date of this press release. Mr. Bradley’s planned departure will allow him to focus his energies on his consulting business which the Company will continue to engage for certain accounting and tax services. Mr. Bradley will remain on the Board as a non-executive Director. “As CFO, Mr. Bradley led the Company from its inception through considerable growth periods with his efforts being instrumental to those successes. The Company deeply appreciates his contributions as CFO and very much looks forward to his continued involvement as a member of the Board” says Timothy Hoops, CEO.
The Company also announces the appointment of Shaun Maskerine as Corporate Secretary (Canada). Mr. Maskerine has over 14 years experience in the administration and development of public companies including direct involvement in numerous listings, capital raisings and transactions. He has extensive experience in the areas of corporate compliance, corporate secretarial work and governance of listed companies. Mr. Maskerine has been a director and held many senior positions in companies on both the Toronto Venture Exchange and the ASX and is currently a director and corporate secretary of other listed companies on the Toronto Venture Exchange. Mr. Maskerine replaces Douglas M. Walker who served as Corporate Secretary (Canada) for the past 18 months. Speaking on behalf of the Company, Mr. Hoops added, “Strata-X thanks Mr. Walker for his past services and wishes him every success in his future endeavours.”
The Company also announces that it has granted options to certain non-management employees and consultants of the Company to acquire 500,000 (TSX.V) shares of the Company at an exercise price equal to CAD$0.30. The options will be subject to the terms and conditions of the Company’s stock option plan and will be exercisable for a period of ten years. The options are subject to TSX Venture Exchange approval.
More information about Strata-X’s portfolio of projects can be found on the Company’s website at www.strata-x.com.
Strata-X is a Denver, Colorado (USA) based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, California, Colorado, Texas, Illinois and Western Australia and production and development opportunities in California. Strata-X has 123,752,453 common shares outstanding and trades under the symbol “SXE” on the TSX.V and “SXA” on the ASX.
For Further information contact:
|Tim Hoops (USA)||or||Colin Christensen (Canada)||or||Duncan Cornish (Australia)|
|President||Investor Relations||Corporate Secretary|
|+1 720-515-8793||+1 403-483-8363||+61 7 3212-6299|
This announcement was made in Canada for the TSX.V and in Australia for the ASX.