Fima Inc.

July 05, 2012 10:50 ET

Fima Inc. Announces Appointment of New President and Director and Cancellation of All Preferred Shares

CALGARY, AB--(Marketwire - Jul 5, 2012) -  FIMA INC. (PINKSHEETS: FIMA) ("Fima" or the "Company") is pleased to announce that it has appointed Mr. Manjit Singh Sahota as a Director and President of Fima Inc. Manjit has been involved in the oil industry for the last 15 years. He built his first oil company to a production level of 1200 barrels per day from scratch and then sold it for $28 mm. Manjit possesses extensive experience in under-valued asset evaluations on a global scale and assisted in the growth of multiple oil companies such as Kuwait Oil Company, Subsurface Consultants Associates and Zoom Energy International. Manjit is an expert in 3D Reservoir Optimization Modeling and Development Plan Implementation. Manjit has also participated in multi-million dollar joint venture negotiations and investor energy deals.

In connection with the appointment of Mr. Sahota as President and Director of Fima, the Corporation is actively engaged in discussions with Mr. Sahota and his business entities regarding the acquisition of significant oil and gas properties, and expects to be in a position shortly to provide further information.

Mr. Marco Garduno Chavez, a Director of the Company, has returned to the treasury 10 Million Preferred Shares without consideration, which represents all the outstanding Preferred Shares previously issued. The purpose of this was to eliminate multiple voting shares and create one class of common shares. Fima's capital structure consists of 241,942,000 common shares outstanding of which 36,450,000 shares are free trading.

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," believe," "expect," "future," "may," will," "would," "should," "plan," projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of FIMA Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Contact Information

  • For further information please contact:
    Mr. Manjit Sahota
    Fima Inc.
    Email Contact