CALGARY,
Feb. 25, 2014 /CNW/ - Yangarra
Resources Ltd. ("Yangarra" or the
"Company") (TSXV:YGR) announces the appointment of
Neil Mackenzie and Ted Morton as independent members of the Board
of Directors.
Neil MacKenzie is
an independent businessman, with more than forty-five years of oil
and gas experience. Mr. MacKenzie is a director of various
public companies, including Canyon Technical Services, and
currently a partner in Blackstone Fluids, an oil and gas drilling
fluids company. Mr. MacKenzie held the position of CEO of an
oil and gas company from 2004-2007. Mr. MacKenzie co-founded
and served as President of Protec Drilling Fluids for twenty-five
years before it was sold to Newpark Drilling Fluids in 1998 where
he served as a Director and Vice-President.
Ted Morton, B.A.
PhD. in political economy, is a former Canadian politician and
cabinet minister in the Alberta
government. Mr. Morton's various positions in the Alberta
Government included Minister of Energy (2011-2012), Minister of
Finance and Enterprise (2010-2011), and Minster of Sustainable
Resources (2006-2010). Mr. Morton was a candidate for the
leadership of the Progressive Conservative Association in its 2006
and 2011 leadership elections. Mr. Morton is currently an
Executive-in-Residence at the School of Public Policy at the
University of Calgary and Senior
Fellow, Energy and Environment, at the Manning Foundation and also
serves on the Board of the Alberta Land Institute and the Board of
Governors of the Council of Canadian Academies.
Yangarra has granted the new directors options
to purchase an aggregate of 1,000,000 common shares at an exercise
price of $0.76 per share, pursuant to
its stock option plan. All options vest immediately and will
expire on February 24, 2019.
In addition, Yangarra announces that
W.W. (Chuck) Charlton and
Alan T. Pettie have resigned from
the Company's Board as of February 24,
2014. Yangarra wishes to thank both Mr. Charlton and
Mr. Pettie for their services to the Board of Directors.
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
Policies of the TSX Venture Exchange) accepts responsibility for
the adequacy and accuracy of this release.
SOURCE Yangarra Resources Ltd.