🕐10.01.12 - 00:27 Uhr
CABO DRILLING ANNOUNCES ELECTION OF NEW DIRECTORS
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North Vancouver, BC – Cabo Drilling Corp.
(TSX-V: CBE) (“Cabo Drilling”
or the “Company”) announces that Roy T.
Graydon and Peter A.
Freeman
were duly elected to the Company’s Board of Directors at the Company’s
Annual General Meeting of Shareholders held on December 16, 2011.
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Mr.
Graydon is an accomplished business executive with extensive and
diverse experience as both a public company CEO and CFO, and in
corporate governance, investing in public and private equity markets,
and mergers and acquisitions.
Mr.
Graydon will bring invaluable
experience to all activities of Cabo Drilling including the development
and implementation of strategy, recruiting, training and developing
people; designing and implementing financial and governance oversight;
capital allocation acquisitions and divestitures; and, financial
reporting and disclosure.
Mr.
Graydon was formerly President, CEO and a
director of Aeroquest International Limited and in the past has also
served on the boards of Canadian public companies Patheon Inc.,
Call-Net Enterprises Inc., Cybersurf Corp., and International Comfort
Products Corporation.
Mr.
Freeman brings to the Company extensive experience in public
markets, finance and compliance.
His experience includes six years as
Director of Markets and Compliance at the OFEX Market (now PLUS) where
his work with the FSA, HM Treasury and the European Commission allowed
OFEX to develop from an "unregulated trading facility operated by a
stock exchange member firm" into a regulated Exchange.
In 2005, he
joined Loeb Aron & Co as a director and head of compliance and advisory
services for their London based, mining corporate finance house.
In
addition to advising companies on their fundraising and other corporate
activities, Mr.
Freeman has been a director of two public companies
admitted to the AIM market, which both successfully completed
financings (OFEX Holdings plc and Capital Lease Aviation plc).
"We are very pleased to announce these talented additions to our Board
of Directors," commented John A.
Versfelt, President and CEO of the
Company.
"Roy has invaluable managerial, financial and operational
credentials gained at both public and private companies where he has
been an important contributor to their growth, while Peter brings
extensive experience relating to public markets, finance and
compliance.
Such experience will prove crucial as we continue to grow
and further develop our markets.
We look forward to their presence and
contribution to our Board.”
The following incumbent directors were re-elected to the Company’s
Board:
John A.
Versfelt
J.
Terry Aimone
Thomas G.
Oliver
Robert W.
Schellenberg
Directors Mr.
Greg Gerrie, Mr.
Robin Preston and Mr.
Peter
Waltonretired from the Board and did not stand for re-election.
We
extend our sincere thanks to them for their dedicated service on the
Board.
The shareholders of the Company also approved the resolution to appoint
Morgan & Company, Chartered Accountants, as the Company’s auditors for
the ensuing year.
About Cabo Drilling Corp.
(TSX-V:CBE)
Cabo Drilling Corp.
is a drilling services company headquartered in
North Vancouver, British Columbia, Canada.
The Company provides mining
related and specialty drilling services through its Canadian divisions
in Surrey, British Columbia; Montréal, Quebec; Kirkland Lake, Ontario;
and Springdale, Newfoundland; as well as Cabo Drilling (Nevada) Inc.
of
the United States; Cabo Drilling (Panama) Corp.
of Panama, Republic of
Panama; Cabo Drilling Panama-Pacifico Corp.
of Panama, Republic of
Panama doing business as Cabo Drilling Colombia Corp.; Balkan States
Drilling SH.P.K.
of Tirana, Albania; and Cabo Drilling (International)
Inc.
The Company’s common shares trade on the Frankfurt Exchange under
the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
“John A.
Versfelt”
John A.
Versfelt
Chairman, President and CEO
Further information about the Company can be found on the Cabo website
and SEDAR (www.sedar.com) or by contacting
Sheri Barton, Corporate Communications at 403-217-5830 or Mr.
John A.
Versfelt, Chairman, President & CEO of the Company at 604-984-8894.
* * * *
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, potential mineral recovery processes and other
business transactions timing.
Forward-looking statements address
future events and conditions and therefore, involve inherent risks and
uncertainties.
Actual results may differ materially from those
currently anticipated in such statements.
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Copyright © 2012 Cabo Drilling Corp., All rights reserved.
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Our mailing address is:
Cabo Drilling Corp.
3rd Floor, 120 Lonsdale Ave
North Vancouver, BC V7M 2E8
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