CALGARY, ALBERTA--(Marketwire - July 12, 2012) - Freehold Royalties Ltd. (TSX:FRU) (www.freeholdroyalties.com) is pleased to announce the appointment of Mr. Thomas J. Mullane as Executive Vice-President and Chief Operating Officer, effective July 18, 2012. Mr. Mullane will also serve in the same capacity with both Rife Resources Ltd. and Canpar Holdings Ltd. Rife and Canpar are wholly-owned subsidiaries of the CN Pension Trust Funds, the pension fund for employees of the Canadian National Railway. A subsidiary of Rife manages the assets of Freehold.
Mr. Mullane has over 25 years of industry experience and a broad background in exploitation and production engineering gathered from both domestic and international assignments. Most recently, he served as Senior Vice President of Bonavista Energy Corporation. Over 12 years at Bonavista, his responsibilities included acquisitions and divestitures, exploitation and reservoir engineering management.
Mr. Mullane graduated from the University of Alberta in 1983 with a Bachelor of Science degree in Chemical Engineering and is a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA).
"I am very pleased to have Tom join our executive team", said Bill Ingram, President and Chief Executive Officer. "He brings a solid background of industry experience and knowledge at a senior level that will be an asset to Freehold, Rife and Canpar in the years to come."
Freehold's (www.freeholdroyalties.com) primary focus is on acquiring and managing oil and gas royalties. The majority of production comes from royalty interests (mineral title and gross overriding royalties). Freehold's common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.
Rife Resources Ltd. (www.rife.com) is a Calgary-based oil and gas company. Rife also manages the assets of Freehold Royalties Ltd. and Canpar Holdings Ltd., with total daily production of over 21,000 barrels of oil equivalent per day. Rife and Canpar are 100% owned by the CN Pension Trust Funds.