MAX Minerals Ltd.
TSX VENTURE : MJM

September 14, 2010 16:21 ET

MAX Minerals Ltd. Announces Corporate Update

CALGARY, ALBERTA--(Marketwire - Sept. 14, 2010) - MAX Minerals Ltd. (the "Corporation") (TSX VENTURE:MJM) is pleased to announce that at the meeting of shareholders held on September 13, 2010 all matters put forth before the meeting were approved by the shareholders. As a result the directors now comprise: Stan Grad (Chairman), Raymond P. Antony, Robert Mason, Grant Wierzba and Ronald P. Wiebe (President and Chief Executive Officer).

In addition, the Corporation has added to its senior management to compliment its oil and gas team. The Corporation is very pleased to announce the following appointments: Tim Veenstra as Vice President Engineering, Donna Bowles as Vice President Land, Neil Burrows as Vice President Finance and Chief Financial Officer and Trevor Wong-Chor as Corporate Secretary of the Corporation. In connection with the appointment of the new management group, Andriyko Herchak has resigned as Chief Financial Officer. The Corporation wishes to thank Andriyko for his service to the Corporation.

The Corporation has also approved the grant of 230,000 additional stock options to certain of the above noted directors and officers of the Corporation. The options will be granted at an exercise price of $0.48 per Common Share and expire five years from the date of grant.

The Corporation has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the granting of the options.

The shareholders also approved the change of the name of the Corporation to "Standard Exploration Ltd." which the Corporation expects to implement in the following period. A news release with the new name and trading symbol will be issued in advance of the name change.

The Corporation has operationally begun the development drilling and facilities work associated with the Chin Coulee property acquired in the Varenna Energy Ltd. acquisition. In August, one well was brought back on production at a rate of 40 barrels a day and will remain on until facilities and pipeline work commences in mid to late September. The facility and pipeline work will be completed over the next two months with the commissioning start date planned for November 1, 2010.

MAX Minerals Ltd.

Ronald P. Wiebe, President & CEO

The Corporation is a Canadian based oil and gas corporation with operations in Alberta, Canada and is traded on TSX Venture Exchange. The Corporation's public filings may be found at www.sedar.com.

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

  • MAX Minerals Ltd.
    Ron Wiebe
    President & CEO
    403-262-4450