MONTREAL, QUEBEC--(Marketwire - Nov. 19, 2012) - Junex Inc. ("Junex" or the "Corporation") (TSX VENTURE:JNX) is pleased to announce the appointment of Guylaine Saucier as an independent director of the Corporation. Ms. Saucier will fill the vacancy created among the board of directors by the resignation of Roberto Aguilera. The resignation of Mr. Aguilera and the appointment of Ms. Saucier are both effective immediately. Ms. Saucier will also sit on the Audit Committee of the Corporation. Ms. Saucier is the Director proposed by Investissement Quebec following the private placement which closed on June 2012.
Ms. Saucier is a former Chairman of the Board of Directors of the Canadian Broadcasting Corporation, a former director of the Bank of Canada, a former Chair of the Canadian Institute of Chartered Accountants (CICA), a former director of the International Federation of Accountants, and was Chair of the Joint Committee on Corporate Governance established by the CICA, the Toronto Stock Exchange and the Canadian Venture Exchange, is a director of AREVA and Wendel and was also the first woman to serve as President of the Quebec Chamber of Commerce. She serves as a director of the Fondation du Musée des Beaux Arts. Mme Saucier obtained a B.A. from Collège Marguerite-Bourgeoys and a B.Comm. from the École des Hautes Études Commerciales, Université de Montréal. She is a Fellow of the Institute of Chartered Accountants and a Member of the Order of Canada. In 2004, she received the Fellowship Award from the Institute of Corporate Directors, in 2007, she obtained the Institute Certified Designation from the Institute of Corporate Directors, and in 2010, Administrateur de Société Emérite from Collège des Administrateurs de sociétés.
"We would like to thank Roberto for his outstanding contribution to the growth and success of Junex", said Jean-Yves Lavoie, Chief Executive Officer of Junex. "We are delighted to welcome Guylaine Saucier to our board of directors. Junex will benefit from her extensive public company experience and her expertise in the fields of corporate governance and finance".
The Corporation is also pleased to announce that the board of directors has amended its stock option plan so as to increase the maximum number of common shares reserved for issuance pursuant to the exercise of options from 3,500,000 to 6,000,000, representing less than 10% of the current number of issued and outstanding common shares of Junex. There are currently 2,956,666 options issued and outstanding under the plan. In addition, the Corporation is pleased to announce that it has granted incentive stock options, pursuant to the Corporation's stock option plan, to three officers and 13 employees for the purchase of up to an aggregate of 1,364,000 common shares of the Corporation for a period of ten years at a price of $0.71 per share. The foregoing amendment and grants are subject to regulatory approval.
Junex is a junior oil and gas exploration company that holds exploration rights on approximately 5.2 million acres of land located in the Appalachian basin in the Province of Quebec. The company is in the heart of the Utica Shale gas discovery located in the St. Lawrence Lowlands and holds a significant land-package on the Anticosti Island where an independent report has provided their Best Estimate of the undiscovered shale oil initially-in-place ("OIIP") volume for the Macasty Shale on all five of Junex's permits on Anticosti Island at 12.2 billion barrels. In parallel to its exploration efforts in Quebec and expansion of its exploration activities elsewhere, Junex's goal is to achieve positive cash flows from its natural brine and drilling services operations.
Forward-Looking Statements and Disclaimer
Certain statements in this press release may be forward-looking. Forward-looking statements are based on the best estimates available to Junex at the time and involve known and unknown risks, uncertainties and other factors that may cause Junex's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting Junex's business and activities appears under the heading "Risks and Uncertainties" on pages 8 to 11 of Junex's 2011 annual management's discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Junex will derive therefrom. In particular, no assurance can be given as to the future financial performance of Junex. Junex disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event. The reader is warned against undue reliance on these forward-looking statements.
Neither 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.