Kinetex Resources Corporation

Kinetex Resources Corporation

March 19, 2009 16:27 ET

Kinetex Announces Board and Management Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2009) - Kinetex Resources Corp. (TSX VENTURE:KTX) (the "Company" or "Kinetex") regretfully announces the resignation of Vern Stromkins from the Board of Directors and as Chief Financial Officer, effective immediately. Mr. Stromkins (at retirement age) cited serious family health issues for his unexpected departure.

Mr. Stromkins has served as CFO and on the Board since the Company's inception in 2004. During this period the Company has enjoyed a period of remarkable activity; with gross revenue increasing fourfold during four consecutive years of positive operating cash flow.

"Vern has worked tirelessly to further the growth of the Company over the past five years," said Gil Schneider, CEO of Kinetex. "The Board joins with me in extending Vern and his family all the best in the future." Mr. Stromkins will remain available to the Company in an advisory capacity.

The Board has will nominate a director to oversee the duties of CFO in the interim until a suitable candidate is found. The Company has begun a search for a permanent replacement CFO.

About Kinetex

Kinetex is an oil, gas and mineral exploration services company with offices in Vancouver, BC, Calgary, Alberta and Bogota, Colombia. Through its subsidiaries, Kinetex provides data-rich high resolution subsurface images - essentially a brand-new exploration tool - to the energy, metals and minerals exploration and development industries seeking to go beyond the limitations of traditional data acquisition methods.

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. The company seeks safe harbour.

Contact Information

  • Kinetex Resources Corporation
    Gil Schneider
    (604) 484-5761 or Toll Free: 1-888-484-5761
    (604) 484-5760 (FAX)