Kristina Capital Corp.

May 07, 2009 16:19 ET

Kristina Capital Corp. Announces Management Changes

CALGARY, ALBERTA--(Marketwire - May 7, 2009) - Kristina Capital Corp. (TSX VENTURE:KCA) (the "Corporation" or "Kristina") announces that Richard Poirier has resigned as President and as a director of the Corporation. The board wishes to thank Mr. Poirier for his contributions and wishes him well on his future endeavors. Effective immediately the Corporation is pleased to announce the appointment of new, highly qualified members to the management team and board of directors. Beginning immediately, Murray Atkins will assume the role of Chief Executive Officer and President. Mr. Atkins returns to a managerial role in the Corporation to focus and direct the growth strategies of the Corporation. The Corporation is also pleased to announce that Chris McLean will assume the role of Chief Financial Officer and has also been appointed to board of directors of the Corporation.

The board of the Corporation now comprises of Murray Atkins, Gordon Anderson, Clive Llewellyn and Chris McLean. Management of the Corporation now comprises of Murray Atkins as Chief Executive Officer and President and Chris McLean as Chief Financial Officer.

As part of their compensation each of the new appointees was granted options to purchase 500,000 shares of Kristina at an exercise price of $0.10 per share, one half of which vest immediately and the remaining half vest after 4 months; the options have a maximum term of 5 years. The Corporation has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 are available for the grant of these options.

Kristina is engaged in the acquisition, exploration, development and production of hydrocarbons in a cost effective manner to create exceptional value for its shareholders. It currently holds a 75% interest of a gas resource over 750,000 acres (gross) in Saskatchewan. Kristina continues to seek out value driven acquisitions and joint venture opportunities.

ADVISORY: Certain information in this press release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects" and similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to the closing or completion of the referenced transactions. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this news release are made as of the date of this news release, and Kristina does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

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.

Contact Information

  • Kristina Capital Corp.
    Murray Atkins
    (403) 816-3555