Mart Resources, Inc.
TSX VENTURE : MMT

Mart Resources, Inc.

September 05, 2012 08:29 ET

Mart Resources, Inc.: Appointment of New CFO

CALGARY, ALBERTA--(Marketwire - Sept. 5, 2012) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") is pleased to announce that the Company has appointed Mr. Dmitri Tsvetkov as Chief Financial Officer, effective September 1, 2012.

Mr. Tsvetkov was previously Chief Financial Controller of Heritage Oil Plc, a FTSE 250 (Exchangeable Shares listed on the Toronto Stock Exchange and the London Stock Exchanges) oil and gas exploration and production company, which he joined in 2007. Before that Mr. Tsvetkov was with PricewaterhouseCoopers in Calgary, Canada and Moscow, Russia. Mr. Tsvetkov has more than 17 years of financial and accounting experience in oil and gas industry, and has a Chartered Accountant (CA) designation from the Canadian Institute of Chartered Accountants and an ACCA designation from the Association of Chartered and Certified Accountants in the UK.

James Saretsky has resigned as interim CFO of the Corporation effective September 1, 2012, but will continue to provide consulting services to Mart for a transition period.

Wade Cherwayko, CEO of the Company stated: "We are pleased to welcome Dmitri to Mart. His significant oil and gas financial experience will be valuable to Mart as we meet the challenges arising from our growing production. Mart would like to thank James Saretsky for his dedication, hard work and valued service to the Company as interim CFO and we wish him well in his future endeavours."

Mr. Tsvetkov has been issued 1,000,000 incentive stock options at a price of $1.35 per common share, expiring on the fifth anniversary of the date of grant.

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