Primeline Energy Holdings Inc.
TSX VENTURE : PEH

Primeline Energy Holdings Inc.

April 24, 2017 07:56 ET

Primeline CFO to Step Down

HONG KONG, CHINA--(Marketwired - April 24, 2017) -

Not for distribution to U.S. news wire services, or dissemination in the United States.

Primeline Energy Holdings Inc. (the "Company") (TSX VENTURE:PEH) today announced Chief Financial Officer, Mr. Stuart Joyner, has informed the Board of his decision to step down to pursue another opportunity and will leave the Company after serving out his 3 month notice period in order to assist in finalising the Company's audited accounts for the year end March 31st, 2017. After July 24th, 2017. Mr Joyner will be replaced by Mr John Li as interim CFO until a replacement CFO is appointed.

Mr. Li is the CFO (China) of Beijing Chyau Fwu Properties Company Limited., which is owned by the family of Primeline's Chairman, President, and largest shareholder, Mr. Victor Hwang. He has over 30 years experience working in various financial capacities for public and private companies. Mr. Li is a Certified Public Accountant qualified in Hong Kong and Australia, and graduated with a Masters in Practicing Accounting from Monash University in Australia. Mr Li has previously served as interim CFO of the Company from May 2013 until the appointment of Mr Joyner as CFO in November 2014. He will serve on a part time basis on secondment from Parkview Group.

Dr. Ming Wang, CEO, commented: "The Board would like to thank Stuart for his contribution to the Company over the past three years and we wish him well in his future endeavours."

About Primeline Energy Holdings Inc.

Primeline is an exploration and production company focusing exclusively on China's natural resources to become a major supplier of gas and oil to the East China market. Primeline has a 100% Contractor's interest in, and is the operator of, the petroleum contract with CNOOC for Block 33/07 (5,877sq km) and a 49% interest in the producing LS36-1 gas field in Block 25/34, together with CNOOC (51% interest and acting as Operator). Both blocks are located in the East China Sea. LS36-1 has been in production since July 2014. Shares of Primeline are listed for trading on the TSX Venture Exchange under the symbol PEH.

ON BEHALF OF PRIMELINE ENERGY HOLDINGS INC.

Ming Wang, Chief Executive Officer

Please visit the Company's website at pehi.com. Should you wish to receive Company news via email, please email john@chfir.com and specify "Primeline Energy" in the subject line.

Forward-Looking Statements

Some of the statements in this news release contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Primeline. Although these statements are based on assumptions management believes to be reasonable, actual results may vary from those anticipated in such statements.

Neither the 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

  • Primeline Energy Holdings Inc.
    Dr. Ming Wang
    CEO
    +44 207.499.8888
    +44 207.499.2288 (FAX)
    Toll Free: +1 877.818.0688
    IR@pehi.com

    CHF Investor Relations
    Cathy Hume
    CEO
    +1.877.838.1079
    Toll Free: +1.877.838.1079 x 231
    cathy@chfir.com