Americas Petrogas Inc.

Americas Petrogas Inc.

October 12, 2010 12:08 ET

Americas Petrogas Announces Two New Directors

CALGARY, ALBERTA--(Marketwire - Oct. 12, 2010) -

Americas Petrogas Inc. ("Americas Petrogas" or the "Company") (TSX VENTURE:BOE) announces that at the Annual General Meeting held on October 8, 2010, the shareholders of the Company elected two new directors, Mr. Rakesh Kapur and Mr. Ron Ho.

Mr. Rakesh Kapur

Mr. Rakesh Kapur has worked for the Indian Farmers Fertiliser Co-operative Ltd.("IFFCO") since 2000. IFFCO is a multi-state co-operative society with the core business of the production and distribution of fertilisers in India. IFFCO has also diversified into other sectors including energy power, commodity exchange, insurance, collateral management services, rural mobile telephony services and agro-park special economic zones through various subsidiaries and joint ventures. IFFCO has overseas Joint Ventures and Affiliates in Oman, Senegal, Jordan, UAE and Australia.

Mr Rakesh Kapur currently holds the position of Joint Managing Director and Chief Financial Officer of IFFCO. Mr. Kapur first joined IFFCO as Executive Director (Finance) and has held different positions since then, including as the Finance Director. He has been responsible for planning, managing and monitoring all the finance and accounts related functions of IFFCO and its group entities. He has also been extensively involved with IFFCO's new projects, acquisitions, joint ventures and diversification initiatives. Mr Kapur is also the Managing Director of IFFCO's two subsidiaries namely, IFFCO Kisan Sanchar Ltd. and IFFCO Kisan SEZ Ltd.

Mr. Ron Ho

Mr. Ho is currently the Vice President, Finance at Sandstorm Resources Ltd. and Sandstorm Metals & Energy Ltd., responsible for sourcing and completing volumetric production payment financing transactions in the natural resource industries. Prior to that, Mr. Ho was the Chief Financial Officer of SNS Silver Corp. and previously was an institutional equity research analyst at Raymond James Ltd., a full service North American investment dealer. Mr. Ho has had extensive experience with publicly traded companies. Mr. Ho obtained his Chartered Accountant designation while employed at Deloitte & Touche LLP, where Mr. Ho provided risk management and assurance services for numerous clients across several industries.

Stepping down as directors of the Company are Mr. Gordon Neal and Mr. Douglas Yee, though Mr. Yee will continue as the Company's Chief Financial Officer.

The entire Board of Directors of Americas Petrogas Inc. is now comprised of Mr. Carlos Lau, Mr. Barclay Hambrook, Mr. Easton Wren, Mr. Ross McCutcheon, Mr. Rakesh Kapur and Mr. Ron Ho.

Mr. Carlos Lau, Chairman, stated "On behalf of the management and the shareholders, I wish to thank Mr. Neal and Mr. Yee for their valuable contribution to the Board during the initial years of the Company. Both Mr. Neal and Mr. Yee supported and helped to guide Americas Petrogas during its formative years as a private company, its growth into a public company, and its recent expansion into a company that is actively exploring, developing and producing oil and gas. At the same time, we welcome Mr. Kapur and Mr. Ho to the Board and look forward to their guidance and direction as Americas Petrogas aims to grow into an even stronger company than it is today."

About Americas Petrogas Inc.

Americas Petrogas Inc. is a Canadian company whose shares trade on the TSX Venture Exchange under the symbol "BOE". Americas Petrogas has oil and gas exploration, development and production activities, and has interests in close to 1,800,000 acres of land in Argentina's most prolific Neuquen Basin. Americas Petrogas owns 80% of GrowMax Agri Corp. For more information about Americas Petrogas, please visit

About GrowMax Agri Corp.

GrowMax Agri Corp., is developing a surface potash (and other minerals) brine reservoir and evaporite deposit at Bayovar in the Sechura Desert of Northwest Peru. Management, along with its partner/investor IFFCO, intends to build GrowMax into a potash and specialty fertilizers company. For more information about GrowMax Agri Corp., please visit

Certain statements in this Press Release constitute forward-looking statements under applicable securities legislation. Such forward-looking statements, such as exploration and development of properties, involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels and timing of activity and achievements to differ materially from those expressed or implied by such information.


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