TORONTO, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Magnolia Colombia Limited. (“Magnolia” or the “Company”) (TSXV: MCO) is pleased to welcome Mr. James Lanthier as the Company’s new President and Chief Executive Officer. Mr. Lanthier will also join the Magnolia board of directors.
Mr Lanthier is a seasoned technology and media executive with a strong background in M&A and finance. His prior public company roles include CEO of Tangelo Games, as COO and a member of the founding management team of Mood Media, and COO / CFO of Fun Technologies, sold to Liberty Media. Mr. Lanthier has extensive capital markets and M&A experience and, additionally, has served as Non-Executive Director of a number of public companies.
The appointment of Mr. Lanthier follows the resignation of Mr. Jaime Lalinde as a director and President and Chief Executive Officer of Magnolia.
The management and board of Magnolia would like to thank Mr. Lalinde for his service and the contributions he has made to the Company and wish him well in the future.
Magnolia also announces that it has granted a total of 1,700,000 stock options to various directors, officers and consultants of the Company. The options vest immediately, have an exercise price of $0.105 and expire five years from the date of grant. The grant of options remains subject to approval by the TSX Venture Exchange.
About Magnolia Colombia Limited:
Magnolia Colombia Limited is a Canadian independent oil exploration company.
For further information, please contact:
James Lanthier, President & CEO
Email: james.lanthier1@gmail.com
Cautionary Note Regarding Forward-Looking Information
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the appointment and resignation of officers and directors of the Company and the grant of options. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; competition; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.