Wedge Energy International

January 28, 2010 15:28 ET

Wedge Announces Three New Directors

OTTAWA, ONTARIO--(Marketwire - Jan. 28, 2010) - Wedge Energy International Inc. ("WEG" or the "Company")(CNSX:WEG) is pleased to announce that following a Board Meeting held January 25, 2010 it has appointed three new directors: Mr. Paul S. Rapello, Mr. Darren Devine and Mr. James Passin. The new directors will be joining remaining directors Mr. Robin Dow and Mr. Kevin Rivers as the new board of directors for Wedge.

Mr. Robin Dow reports: "This is a very exciting time for Wedge. The addition of these gentlemen brings extensive experience in emerging countries, particularly Kazakhstan and other CIS countries. This moves Wedge forward in management ability by a significant order of magnitude."

Mr. Rapello is a founding partner of Great Circle Capital LLC, the general partner of The Great Circle Fund LP, a private equity fund dedicated to investing in the transportation and infrastructure sector in Russia, CIS, Eastern Europe and Turkey. At Great Circle Capital, he was a member of the investment committee and sat on several portfolio company boards of directors. He has an extensive background in M&A, corporate finance and private equity in the US and emerging markets. Prior to the founding of Great Circle, he was a Managing Director of Stanton Capital Corp., a New York-based private equity firm specializing in emerging markets. Prior to joining Stanton Capital, he was a Vice President of the leveraged finance group of Credit Suisse First Boston. Mr. Rapello graduated from Georgetown University and received an M.B.A. from Columbia University Graduate School of Business.

Mr. Devine is the principal of Chelmer Consulting Corp. an internationally focused company that provides corporate finance advisory services to private and public companies principally in the energy sector. In this role, Mr. Devine has acted as director, special committee member and management advisor with respect to public and private financings, stock exchange listings, the structuring and execution of mergers and acquisition and corporate governance. Mr. Devine holds a Bachelor of Sciences and Economics degree from the University of Northumbia, England and a Diploma of Law from the Royal College of Law, York, England. Mr. Devine is qualified as a barrister and solicitor in British Columbia and in England & Wales and previously practiced exclusively in the areas of corporate finance and securities law.

James Passin joined Firebird in 1999. He co-founded and manages Firebird Global Fund and Firebird Global Fund II. Mr. Passin serves on the board of several venture-stage international resource companies. Mr. Passin is a graduate of St. John's College, where he majored in philosophy and classical literature.

David Badyk, Robert Schellenberg and David Clark have retired from the board, and Wedge would like to express its appreciation for everything they have done to help hold the company together during the last difficult year. Mr. Clark remains as consulting geologist to the board, as he has extensive experience in the Middle East and Iraq.

"The statements in this Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The CNSX has not approved or disapproved of the information contained in this Press Release."

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