CALGARY, ALBERTA–(Marketwired – Dec. 18, 2014) – High North Resources Ltd. (TSX VENTURE:HN) (the “Company” or “High North“) announces the resignation of Colin Soares as President and Chief Executive Officer of the Company effective December 18, 2014, and the appointment of Paul Starnino as President and Chief Executive Officer and as a member of the board of directors of High North effective December 18, 2014.
Paul Starnino has been involved in the oil and natural gas business for over 28 years. Mr. Starnino was previously President and Chief Executive Officer of E3 Energy and E4 Energy, as well as VP, Exploration for both CrownJoule Exploration and Ravenwood Energy. Mr. Starnino founded and has been directly involved in growing companies from zero to 3,500 barrels of oil equivalent per day (“boe/d“) and has been a director of companies that have grown from zero to 45,000 boe/d. Mr. Starnino was previously a member of the board of directors of Starpoint Energy Trust, TriStar Oil & Gas Ltd. and Twin Butte Energy Ltd. as well as E4 Energy and E3 Energy. Mr. Starnino is currently a director of Momentus Energy Corp., a private junior oil and gas company engaged in the exploration of oil and natural gas reserves in Montana. Mr. Starnino holds an Honors Degree in Physics from the University of Waterloo.
High North’s Chairman, Michael Black, stated: “We would like to thank Colin for his commitment and contributions to the Company, which have fundamentally shaped the growth of High North.” Mr. Black further stated: “We are extremely pleased with the addition of Paul Starnino to the leadership team at High North as he brings enormous technical and strategic experience in the oil and gas industry to the Company. An oil and gas company needs an experienced oil and gas leader, and we could not be happier that Paul has agreed to assume this role.”
Additional information about the Company is available under High North’s profile on SEDAR at www.sedar.com.
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: the impact of Mr. Soares’ resignation as President and Chief Executive Officer and the impact of the appointment of Mr. Starnino as President and Chief Executive Officer and as a member of the board of directors and the future growth of the Company. Statements regarding future growth initiatives are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks, regulatory changes and certain other known and unknown risks detailed from time to time in High North’s public disclosure documents, copies of which are available on High North’s SEDAR profile at www.sedar.com.
Although High North believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. High North’s actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements. Statements including forward-looking statements are made as of the date they are given and except as required by applicable securities laws, High North disclaims any intention or obligation to publically update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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.
Mr. Paul Starnino
President and Chief Executive Officer