Longford Corporation

September 28, 2005 08:00 ET

Longford Corporation Appoints David Walters As President And C.E.O.

CALGARY, ALBERTA--(CCNMatthews - Sept. 28, 2005) -

Announces $1 Million Private Placement

Longford Corporation (TSX VENTURE:LFD) has appointed David Walters as President, C.E.O. and a member of the Board of Directors. The appointment follows the resignation of Don Parker who will remain on the Board of Directors.

David G. Walters is currently the Managing Director of the WATT Energy Limited Partnership II and WATT Energy Limited Partnership III. He is also a director of six operating oil and gas companies owned by the WATT Partnerships which have engaged in joint venture drilling with Daylight Energy Trust, Ketch Resources Trust, Find Energy, Blue Mountain Energy and Virtus Energy. Mr. Walters is a corporate finance advisory and placement specialist with extensive institutional experience with resource focused equity boutiques. Prior to founding WATT Capital in 2001, he had a 10-year institutional brokerage career that included positions at Bay Street Direct, Harris Partners, St. James Securities, Goepel Shields & Partners and Loewen, Ondaatje, McCutcheon Limited. He is also a director of Ensign Capital Inc., a Toronto based merchant bank and a director of PrecisionCash Ltd., a Toronto based company operating automated teller machines across Canada. Mr. Walters holds an engineering degree from Royal Military College, a MBA from the University of Western Ontario and holds the Chartered Financial Analyst designation.

Additionally, the Company is planning on raising up to $1,000,000 by way of a non brokered private placement through the issuance of a combination of Units and flow through shares, both priced at $0.25. The Units will consist of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase a common share for $0.25 for a period of 18 months following closing. The private placement remains subject to regulatory approval. The Company has granted options to purchase 400,000 common shares at $0.25 per common share to directors, officers and consultants of the Company, subject to regulatory approval.

Longford Corporation is a Canadian junior resource company listed on the TSX Venture Exchange under the symbol "LFD". The Company is focused on exploring for and developing North American oil and gas assets.

Contact Information

  • Longford Corporation
    David Walters
    President & C.E.O.
    (403) 263-3000 x. 298