REGINA, SK / ACCESSWIRE / October 31, 2022 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK) is pleased to announce that it has added Tom MacInnis as a director of the Company, effective immediately.
Mr. MacInnis is an independent businessman, currently CEO and Director of Southern Pacific Resource Corp., and a member of the advisory committee for Lex Energy Partners Funds III, IV and V. Mr. MacInnis brings a wealth of energy capital markets and transactional experience, as previous Head of Financial Markets, Energy and Head of Energy Investment Banking for National Bank Financial Markets and prior thereto Managing Director of Investment Banking for Tristone Capital Inc. Mr. MacInnis was the board chairman of Crestwynd Exploration Ltd. prior to its sale in 2022, along with previous board of director roles with Bellatrix Exploration Ltd. (and Interim CEO) and Canadian Premium Sand Inc. Mr. MacInnis holds a Bachelor of Commerce Degree from Saint Mary's University, a diploma in Petroleum Engineering from the Southern Alberta Institute of Technology, a Masters of Business Administration from the Richard Ivey School of Business at the University of Western Ontario and holds ICD.D certification from the Canadian Institute of Corporate Directors. Mr. MacInnis is also a significant shareholder of the Company, holding approximately 3.7 million common shares in the capital of the Company and warrants exercisable into an additional 1.5 million common shares, which, when exercised and together with the common shares, would represent approximately 2.5% of the issued and outstanding shares of the Company.
In connection with the foregoing, Mr. MacInnis has been issued a total of 800,000 stock options with an exercise price of $0.35, vesting as to one third immediately, one third in the first anniversary date of the date of grant and the final one third on the second anniversary of the date of grant and expiring five years from the date of issuance.
Mr. MacInnis's appointment as a director of the Company will be subject to a vote of the shareholders of the Company, along with all of the other current directors of the Company, at the annual general and special meeting of shareholders to be held on December 15, 2022 at 10 a.m. (Calgary time). Details of this meeting, including materials relating to same, will be sent during the month of November and filed under the Company's SEDAR profile at www.sedar.com in due course.
ROK is primarily engaged in exploring for petroleum and natural gas development activities in Alberta and Saskatchewan. Its head office is located in Regina, Saskatchewan, Canada and ROK's common shares are traded on the Exchange under the trading symbol "ROK".
For further information, please contact:
Cameron Taylor, Chairman and CEO
Bryden Wright, COO
Jared Lukomski, Senior Vice President, Land & Business Development
Phone: (306) 522-0011
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals, or future plans with respect to pursuing the objectives and the expectations regarding the expected results thereof. Forward-looking statements are necessarily based on several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to general business, economic and social uncertainties; litigation, legislative, environmental, and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in ROK's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
SOURCE: ROK Resources Inc.