Poplar Point Energy Inc.

May 05, 2011 14:25 ET

Poplar Point Energy Inc. Announces Corporate Changes and Control Block Transaction

CALGARY, ALBERTA--(Marketwire - May 5, 2011) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Poplar Point Energy Inc. (the "Corporation" or "Poplar Point") announces that Messrs. Jason Chung, Ian Hogg, Steven Anderson and Kim Youngsoo have resigned their positions as directors of Poplar Point and, in their stead, the board has appointed Messrs. Keith McKenzie and Brian Vallesi as new directors. The Board of the Corporation thanks Mr. Yu and Ms. Hong for their contributions to Poplar Point over the past years and wish them the best in their future endeavors.

The Corporation also announces the purchase by Paige Capital Inc., 1575710 Alberta Ltd. and 935476 Ontario Limited of 30,000,000 common shares of the Corporation from Ever Resources Inc., a Korean-based investment company.

Concurrently with his resignation as a director of the Corporation, Mr. Hogg has also resigned his positions as the company's President, Chief Executive officer and Chief Financial Officer. The Corporation plans to seek and appoint a new Chief Executive Officer and Chief Financial Officer shortly.

This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Poplar Point Energy Inc.
    Rob Saltsman
    416-402-2428