DeeThree Exploration Ltd.

DeeThree Exploration Ltd.

January 26, 2010 09:00 ET

DeeThree Exploration Ltd. Announces Appointment of Michael Kabanuk as Chairman and Henry Hamm as a Director

CALGARY, ALBERTA--(Marketwire - Jan. 26, 2010) - DeeThree Exploration Ltd. (the "Corporation") (TSX VENTURE:DTX) is pleased to announce that Michael Kabanuk has been appointed as Chairman of the Board of Directors and that Henry Hamm of Grande Prairie, Alberta has been appointed as a Director of the Corporation. Mr. Hamm owns and operates a number of private companies in the Grande Prairie region including Prudential Lands, a land development company formed in 1995 and Dirham Homes, a home building company formed in 1976. Mr. Hamm was awarded the Business Citizen of the Year Award by the Grande Prairie Chamber of Commerce in February 2009.

The Board of Directors is presently comprised of Michael Kabanuk (Chairman), Martin Cheyne (President and Chief Executive Officer), Brendan Carrigy (Vice President, Exploration), Brad Porter, Dennis Nerland and Henry Hamm. Messrs. Kabanuk, Cheyne and Carrigy are considered to not be independent due to being executive officers of the Corporation. The Audit Committee of the Board of Directors is presently comprised of Messrs. Nerland (Chair), Porter and Hamm, all of whom are independent.

The Corporation also announces that the balance of the letter of credit of $4 million that it had provided to the vendor of its Lethbridge property has released to the Corporation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • DeeThree Exploration Ltd.
    Martin Cheyne
    President and Chief Executive Officer
    (403) 263-9130