Canadian Spirit Resources Inc.
TSX VENTURE : SPI
OTC Bulletin Board : CSPUF

Canadian Spirit Resources Inc.

November 08, 2011 09:23 ET

Canadian Spirit Resources Inc. Announces Appointment of New Director

CALGARY, ALBERTA--(Marketwire - Nov. 8, 2011) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI) (OTCBB:CSPUF) is pleased to announce the appointment of Joseph Iannicelli of Montréal, Québec as a director of the Corporation effective immediately.

Mr. Iannicelli is currently the President & Chief Executive Officer of Standard Life Assurance Company of Canada, a position he assumed in 2005. This followed 10 years of progressively more senior management roles within the Canadian operations of Standard Life.

During his successful career with Standard Life, Mr. Iannicelli participated in the development of a cohesive, motivated and high performing management group leading a team of over 2000 employee partners. As CEO, he was responsible for developing and implementing a new Canadian strategy and vision for Standard Life and through his participation in the Global Group Executive Committee contributed to the creation of the Group's global strategy.

Mr. Iannicelli is a member of the Canadian Council of Chief Executives, the Canadian Chamber of Commerce and several insurance industry boards and committees. He has been an active participant in numerous healthcare foundations and is recognized for his contribution to charitable and community events in the metropolitan Montréal area.

Mr. Iannicelli holds two degrees from York University, Toronto.

Commenting on Mr. Iannicelli's appointment as a director of CSRI, George Watson, Chairman of the Board stated that "Joseph's senior financial management, strategic planning and investment experience will contribute to the strength of the CSRI Board of Directors as the Corporation pursues the development of its large natural gas resource project at Farrell Creek, British Columbia".

Following the release of the Corporation's Third Quarter 2011 Financial Results, t he Corporation proposes to grant Mr. Iannicelli stock options to acquire 75,000 shares subject to approval of the TSX Venture Exchange. Issued pursuant to the terms of the Corporation's Stock Option Plan, these options will have a term of five years and an exercise price set at the closing price of the Corporation's shares on November 29, 2011.

CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry.

On behalf of the Board of Directors,

CANADIAN SPIRIT RESOURCES INC.

Don Gardner, Chief Executive Officer & Secretary

The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast.

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contact Information

  • Canadian Spirit Resources Inc.
    Don Gardner
    (403) 539-5005
    (403) 262-4177 (FAX)
    don.gardner@csri.ca

    Canadian Spirit Resources Inc.
    Phil Geiger
    (403) 539-5005
    (403) 262-4177 (FAX)
    phil.geiger@csri.ca

    Canadian Spirit Resources Inc.
    Adam Buchanan
    Investor Relations
    (403) 539-5005
    (403) 262-4177 (FAX)
    adam.buchanan@csri.ca