CALGARY, ALBERTA–(Marketwired – March 9, 2016) –
Groundstar Resources Limited (TSX VENTURE:GSA) (the “Company“) is pleased to announce the appointment of a new director of the Company. Mr. Stephen Hughes has been appointed to the Board of Directors in addition to the Audit Committee of the Board of Directors, effective immediately. As a result of the foregoing, Murray Stodalka will be stepping down as a member of the Audit Committee but remaining on the Board of Directors. The Company thanks Mr. Stodalka for his contributions to the Audit Committee and welcomes Mr. Hughes to the Company in his dual capacities.
Mr. Hughes is the Co-founder and President of Steeple Capital Partners Ltd., a merchant bank that specializes in providing capital to companies in the energy services sector. Prior to founding Steeple, Mr. Hughes was Vice President, Mergers and Acquisitions of Signal Hill Equity Partners, a mid-market private equity firm. Prior to joining Signal Hill, Mr. Hughes was an institutional salesperson at a number of independent investment dealers. With his 12 years of experience, Mr. Hughes has extensive knowledge in capital markets, including investment banking, portfolio management, mergers and acquisitions and sales and trading.
About Groundstar Resources Limited
Incorporated in 1968, Groundstar Resources Limited is a publicly traded oil and gas company actively growing a portfolio targeting producing oil and gas assets with development opportunities and exploration upside. The Company’s current portfolio of resource assets provides both near term and longer term potential. Groundstar is quoted and trades under the ticker symbol “GSA” on the TSX Venture Exchange.