VANCOUVER, British Columbia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Stamper Oil and Gas Corp. (TSXV:STMP)(OTC Markets:STMGF)(FRANKFURT:TMP2) (“Stamper” or “the Company”), is pleased to announce the appointment of Mr. Alexander (Alex) Polevoy to its board of directors. Mr. Polevoy has held leading positions in international companies and is a seasoned financial accountant, oil & gas executive and an active investor in both private and public companies. Mr. Polevoy is currently Board Member of Basin Logistics, located in New York and Tonga Petroleum Corp, headquartered in Calgary, Alberta.
Mr. Polevoy worked for Renova Management AG of Zurich (2010-11) as a business development consultant on behalf of United Manganese of Kalahari. He was the representative a major Russian private investment group, Interros, as CFO, and Member of the Board of Directors of subsidiary Norilsk Nickel Mining Company, managing over $6 billion USD in debt and over $25 billion USD in assets. He created financial reporting framework for the group and the ability to produce audited financial statements, managed M&A transactions and was involved in communication with the banking and investment community.
Mr. Polevoy was previously CFO, Member of the Board, and the Audit Committee for Integra Group GDR, a leading FSU oilfield service and oilfield equipment manufacturing company. He managed the IPO of the firm in 2007 and raised $750 million USD with over 14 acquisitions during a two year period.
From 2005 to 2006, Mr. Polevoy was CFO, Member of the Board, and the Audit Committee for NYSE listed company, Mechel Group, a Russian based industrial group, managing international assets in mining, metallurgical production and trade, energy, and logistics. He was responsible for financial activity of one of the largest Russian mining and metallurgical production companies and for financial reporting of the group in accordance with requirements of the NYSE. Also during this period, he was a Director, Corporate Audit for TNK-BP Group, 3rd largest oil producer in Russia, supporting and advising Audit Committee and executive management in sound risk management system.
Mr. Polevoy was formerly Head of Monitoring and Control Group, Audit Committee of the Board of Directors for TNK Group, Moscow, Russia. Mr. Polevoy was involved in the restructuring of the company, developing strategic incentives to improve efficiency and value, while overseeing financial reporting and performance management systems specifically in the upstream sector.
In early 2000's, Mr. Polevoy was Director, Corporate Procedures and Development of Yukos Group, Moscow, Russia, involved with preparing and implementing corporate strategy for improvement of financial structure over next 5 years, and setting up JOA, PSA negotiations, and tax planning. During this time, Mr. Polevoy held several positions at Yukos Group of companies including as Vice–President Finance, Deputy Chairman of the Board, and Member of the Board of Directors. He was involved in many aspects of the group providing leadership in a program of westernizing its financial system, developing the financial control strategy through the company, restructuring the head office and regional financial departments (over 2500 employees in finance) to fit new functions.
From 1994 to 1999, Mr. Polevoy was employed in the oil and gas, mining and manufacturing in Canada and the United States including as a Director, CFO and Accounting Manager for several firms including ZCL Composites Inc., Gold Tail Inc., Kazakhstan Goldfields Inc., and Geotex of Houston TX.
Mr. Polevoy is a Member of the Institute of Internal Auditors, New York. He graduated from Northern Alberta Institute of Technology with a degree in Finance and Accounting and McGill University with a degree in Advanced Financial Accounting and Management Financial Accounting.
Mr. Polevoy has also been appointed to the Corporation's Audit Committee.
David Greenway, President of Stamper commented, “I am very pleased to welcome Alex to the Board of Stamper as we move forward to better focus the Company on its efforts with our international opportunities in Africa. Alex has experience in the international arena in oil and gas, in the development of financial strategies, and working with companies developing new policies and improving corporate performance.”
The Company reports that TSX Venture Exchange (the "Exchange") has accepted the second tranche of Company's non-brokered private placement announced on May 23, 2107. The second and final tranche consists of 962,500 units at $0.40 per unit. Each unit consists of one (1) common share (“Common Share”) of the Company and one (1) non-transferable share purchase warrant (“Warrant”) which is exercisable at $0.75 for a period of thirty-six (36) months; for gross proceeds of $385,000. The funds will be used for general working capital and evaluation of new projects.
In addition, Stamper paid a Finders’ fee in connection with the Private Placement. The finders were paid an aggregate cash sum of $30,800.00. The finders were granted Warrants ("Finders Warrants") to purchase an aggregate of 77,000 Warrants at a price of $0.40 per Finders Warrant. Finders Warrant consists of (1) non-transferable share purchase warrant (“Warrant”), exercisable into Common Shares at a price $0.75 per Common Share and having a term of eighteen (18) months.
All securities issued in the financing will be subject to a statutory hold period expiring four months and one day after closing of the financing.
About Stamper Oil and Gas
Stamper Oil and Gas Ltd. (TSXV:STMP) is an independent international oil and gas company, engaged in the acquisition, exploration and development of conventional oil and natural gas properties. The Company plans to identify and build out a portfolio of high-impact oil and gas prospects, with a focus on Latin America. Stamper is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.
For further information on Stamper Oil and Gas please visit www.stamperoilandgas.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“David C. Greenway”
President & Director
For further information, please contact:
Stamper Oil and Gas Investor Relations
Phone: (604) 684-2401
Email: ir@stamperoilandgas.com
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. 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 that events or conditions "will", "would", "may", "could" or "should" occur. Although Stamper Oil and Gas Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Stamper Oil and Gas Corp. management on the date the statements are made. Except as required by law, Stamper Oil and Gas Corp undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.