Crown Point Energy Inc.
TSX VENTURE : CWV

Crown Point Energy Inc.

May 16, 2013 16:40 ET

Crown Point Announces Passing of Director and Officer

CALGARY, ALBERTA--(Marketwired - May 16, 2013) - Crown Point Energy Inc. (TSX VENTURE:CWV) ("Crown Point" or "the Company") announces with much regret and profound sadness the sudden death due to complications from a surgical procedure of Dr. Mateo Turic, the President and Chief Executive Officer of Crown Point Oil & Gas S.A., the Argentine subsidiary of the Company, and a director of Crown Point. Dr. Turic had been with Crown Point Oil & Gas S.A. since 2007 and was a valued member of management and the Board of Directors. He will be missed.

The management of Crown Point in both Canada and Argentina will be fulfilling Dr. Turic's duties until such time as a suitable successor is appointed. In accordance with the corporation's succession planning, Dr. Turic's duties in the interim will be shared between Dr. Brian J. Moss Chief Operating Officer and Daniel Lanussol Executive Vice President of Crown Point Oil & Gas S.A.

Dr. Turic was a proposed nominee for election as a director at Crown Point's upcoming annual general and special meeting of shareholders (the "Meeting"). The Company does not propose to nominate a substitute nominee at the Meeting. Instead, the Board of Directors intends to fix the number of directors of the Company at seven and at the Meeting shareholders will be voting on the remaining seven nominees as set out in the Management Information Circular - Proxy Statement of the Company dated May 10, 2013, which has been mailed to shareholders of the Company and is also available on SEDAR at www.sedar.com.

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