Calgary, Alberta – Silk Road Energy Inc. (TSXV: SLK.H) the “Company” or “Silk Road”) reports that the CFO, Mr. Derrick Colling, has resigned from the Company.
Mr. Colling has resigned in order to pursue other business opportunities. “Derrick has been with us since the beginning in 2014,” said Director, Michael C. Judson. “He has done an excellent job and has been vital in the process of rebuilding Silk Road. We thank him and wish him well in his new endeavours.”
Ms. Nathalie Kavanagh has been appointed interim CFO by the Board of Directors.
Ms. Kavanagh, has over 25 years’ experience as a Chartered Professional Accountant. After completing her Bachelor’s degree in Business Administration at l’École des Hautes Etudes Commerciales in Montreal, she joined Richter LLP’s audit division and for 10 years worked in their Montreal and Toronto offices. She later joined their tax practice as a Senior Manager within the Estates Group. She currently works as a CFO for a residential real estate group in Montreal.
Disposition of petroleum and natural gas assets
In other news, the Company reports that it has sold its remaining oil and gas interests at Bashaw and Thornbury, Alberta, to Gold Note Resources Inc. (“Gold Note”). Gold Note acquired the assets for $10.00 and the assumption of associated liabilities in the amount of $120,618.71.
The above is a related party transaction. Michael C. Judson is a shareholder and director of Gold Note well as being a director and shareholder of Silk Road Energy.
As previously reported, Silk Road has entered into an agreement with a private company to acquire gold exploration properties in the Kirkland Lake gold mining camp in Ontario, Canada. Please see Silk Road’s January 12, 2022 news release for details.
[expand title=”Advisories & Contact”]For more information please contact:
Michael C. Judson, Director,
Silk Road Energy Inc.
T. +1-514-865-5496Website:
www.silkroadenergyinc.com
Cautionary Statements
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes”, an or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company’s current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
Neither the TSX Venture Exchange, including the NEX Board, nor the Canadian Securities Exchange have approved nor disapproved the contents of this news release.
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