Petrus Resources Announces Changes to Board of Directors
March 11, 2021 19:39 ET | Source: Petrus Resources Ltd. Petrus Resources Ltd. Calgary, Alberta, CANADA
CALGARY, Alberta, March 11, 2021 (GLOBE NEWSWIRE) Petrus Resources Ltd. ( Petrus or the Company ) (TSX: PRQ) announces that Mr. Stephen White has resigned from his position as a director of Petrus. The Board of Directors is also pleased to announce that Mr. Ken Gray has joined the Petrus Board. Mr. Ken Gray is a Petroleum Engineer with a degree from Texas A&M University and has over thirty-five years of experience in the oil and gas sector.
The staff, management, and Board of Directors of Petrus would like to thank Mr. White for his commitment and service to Petrus. We all wish him the best in his future endeavours.
(approximately 14.79% on a non-diluted basis)
13,354,742 Common Shares
(approximately 27% on a non-diluted basis)
Glen Gray
(approximately 7.83% on a non-diluted basis)
6,875,000 Common Shares
(approximately 13.9% on a non-diluted basis)
Stuart Gray
(approximately 4.3% on a non-diluted basis)
5,120,000 Common Shares
(approximately 10.3% on a non-diluted basis)
Note:
(1)
Assuming the settlement, in full, of all deferred share units held by Mr. Don Gray, and the closing of the transactions contemplated by the Purchase Agreement, Mr. Don Gray would own and control 13,894,310 Common Shares (approximately 27.8% of the then issued and outstanding Common Shares, on a non-diluted basis).
Each of the Purchasers may be considered to be “joint actors” solely for the purpose of completing the transactions under the Purchase Agreement. Such persons will cease to be joint actors with respect to the transactions under the Purchase Agreement upon the first to occur of the compl