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CALGARY, Aug. 11, 2015 /CNW/ - Petro-Victory Energy
Corp. ("Petro-Victory" or the "Company") (TSX-V: VRY) announces
that further to their press release of July
28, the Company is pleased to announce that Mr. Birken Olson
has been appointed as a Petro-Victory non-executive director
effective immediately.
Mr. Olson has built a number of businesses and has formulated
and executed technical and business strategies in both small and
large companies. He presently concentrates on consulting
services to energy companies. In 2009 he founded Backroads
Petroleum, a value-seeking E&P company focused on finding
overlooked opportunities in under-producing assets and
royalties. The breadth of the business has expanded to
include consulting on such diverse activities as financing, mergers
and acquisitions, distressed company operations, valuation
estimates, and complicated modeling for alternative projected
operations.
In 2004, Mr. Olson co-founded Neos Geosolutions, an independent
oil and gas wildcatter where he helped lead finance and business
operations until 2009. Projects included raising nearly US
$500 million in institutional
financing, managing corporate back office functions, and scanning
for acquisition targets. Neos discovered the first
light-sweet crude oil in Turkey,
owned midcon assets in the US, and explored onshore Mozambique for oil and gas.
In the 1990's and early 2000's, Mr. Olson worked at McKinsey
& Company consulting in a variety of industries, for several
years was a partner at Backroads Capital, and help start Pivotal
Technologies, the original analog semiconductor IP company.
His efforts in those businesses extended well beyond the energy
market and provided him the depth of experiences he has
today. Mr. Olson received a bachelor's degree in electrical
and computer engineering from New Mexico State
University and an MBA from Wharton.
Richard Gonzalez, CEO,
stated: "We are delighted to have Birken joining the board of
Petro-Victory. We expect that his combination of experience
in the energy sector, familiarity with other industries, strong
financial credentials and his international background will all
contribute to the success of Petro-Victory."
Additional information on the Company is available on SEDAR at
www.sedar.com
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws and may not be
offered or sold within the United
States unless an exemption from such registration is
available.
Cautionary Note
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.
Advisory Regarding Forward-Looking Statements
In the interest of providing Petro-Victory's shareholders and
potential investors with information regarding Petro-Victory,
including management's assessment of Petro-Victory's future plans
and operations, certain statements in this press release are
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable
Canadian securities legislation (collectively, "forward looking
statements"). In some cases, forward-looking statements can be
identified by terminology such as "anticipate", "believe",
"continue", "could", "estimate", "expect", "forecast", "intend",
"may", "objective", "ongoing", "outlook", "potential", "project",
"plan", "should", "target", "would", "will", "shall" or similar
words suggesting future outcomes, events or performance. The
forward-looking statements contained in this press release speak
only as of the date thereof and are expressly qualified by this
cautionary statement.
Specifically, this press release contains forward-looking
statements relating to but not limited to: the composition of the
board of directors, our business strategies, plans and objectives,
and drilling and exploration expectations. These forward-looking
statements are based on certain key assumptions regarding, among
other things: our ability to eventually add production and reserves
through our exploration and acquisition activities; the receipt, in
a timely manner, of regulatory and other required approvals for our
operating activities; the availability and cost of labor and other
industry services; the continuance of existing and, in certain
circumstances, proposed tax and royalty regimes; and current
industry conditions, laws and regulations continuing in effect (or,
where changes are proposed, such changes being adopted as
anticipated). Readers are cautioned that such assumptions, although
considered reasonable by Petro-Victory at the time of preparation,
may prove to be incorrect.
Actual results achieved will vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors. These and additional risk factors
are discussed in our Final Prospectus dated July 11, 2014, as filed with Canadian securities
regulatory authorities at www.sedar.com.
The above summary of assumptions and risks related to
forward-looking statements in this press release has been provided
in order to provide shareholders and potential investors with a
more complete perspective on Petro-Victory's current and future
operations and such information may not be appropriate for other
purposes. There is no representation by Petro-Victory that actual
results achieved will be the same in whole or in part as those
referenced in the forward-looking statements and Petro-Victory does
not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by applicable securities law.
SOURCE Petro-Victory Energy Corp.