VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 13, 2013) – RockBridge Resources Inc. (“RockBridge” or the “Company”) (TSX VENTURE:RBE) is pleased to announce that Gurminder Sangha, of Vancouver, BC, has been appointed to its Board of Directors.
Mr. Sangha is an independent business advisor to the resources industry and brings over twelve years of management and financing expertise in both public and private companies. Mr. Sangha has served as a board member on various TSX-Venture listed companies and assisted with corporate finance duties, business development activities, and governance. His previous positions included various lending and securities related positions with Scotiabank. Mr. Sangha holds a Bachelor of Commerce degree.
The Company’s only long term debt is with respect to convertible debentures with a current principal balance of $65,000 and interest at 12% per annum. It has been agreed, subject to regulatory approval, to extend the maturity date of these debentures for one year to January 1, 2015 with the holders having the right to convert all or part of the principal balance prior to maturity into common shares of the Company at $0.07 each.
The Company continues to actively seek to increase its production and revenue, primarily through acquisitions of producing assets in Western Canada or smaller companies with production. As well, it is currently considering several options to increase production at its existing properties.
ON BEHALF OF THE BOARD
ROCKBRIDGE RESOURCES INC.
Steve Mathiesen, President & CEO
This news release may include statements about expected further events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. RockBridge cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what RockBridge currently foresees. Discussion on the various factors that may affect future results is contained in RockBridge’s recent filings, available on SEDAR.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this news release.
Reference to BOE means barrels of oil equivalent and is derived by converting gas to oil at the ratio of six thousand cubic feet (mcf) of gas to one barrel (bbl) of oil. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner top and does not represent a value equivalency at the wellhead. References to BOEPD means barrels of oil equivalent per day.
President & CEO