TULSA, OK and VANCOUVER, BC, Jan. 17, 2017 – Jericho Oil Corporation (“Jericho”) (TSX-V: JCO; OTC: JROOF) is pleased to announce that Markus Seywerd will be joining the Company’s Board of Directors as an independent director.
Mr. Seywerd is Chief Investment Officer and Co-Founder of Park Lane Capital SIVAC plc., a London based investment management firm, where he is responsible for all aspects of portfolio construction, risk management and trading. Prior to Park Lane, he was a portfolio manager at SISU Capital, a London based investment management firm, and was a founding partner of Arbitrage Capital Management, a systematic Commodity Trading Advisor in Vancouver, Canada. He started his investment career as a quantitative analyst in the U.S. with Brandywine Asset Management.
Before moving into finance, Mr. Seywerd was an exploration geophysicist, holding various management positions and focusing on resource projects in North and South America and Africa. He holds a B.Sc. in Mathematics & Geophysics as well as an MBA in Finance from the University of British Columbia and his professional designations include Financial Management Certificate (CFAUK), Canadian Investment Management (CIM) and Derivative Markets Specialist (DMS).
Allen Wilson, CEO, stated, “Markus has a strong, diverse background in business, finance and resources, and possesses a far-reaching network of contacts around the globe. His guidance and his relationships will be invaluable to Jericho as we accelerate the growth of our business in 2017 and beyond.”
Mr. Seywerd’s appointment is effective immediately but remains subject to approval by the TSX Venture Exchange.
Jericho is also pleased to report that it has added key personnel to its senior technical team in Oklahoma, including Shane Matson, James Palastak and Dennis Webb, who collectively have 80 years’ experience in the Mid-Continent oil and gas industry. Please see their bios at http://www.jerichooil.com/about/leadership/.
Further, Jericho has granted an aggregate of 250,000 incentive stock options to a director and an officer of the Company. All of the stock options are exercisable at a price of $0.45 per share for a period of 5 years. The stock options have been granted under and are governed by the terms of the Company’s incentive stock option plan.
About Jericho Oil Corporation
Jericho is a growth-oriented oil and gas company engaged in the acquisition, exploration, development and production of overlooked and undervalued oil properties in the Mid-Continent. For more information, please visit www.jerichooil.com.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho’s expectations include risks related to the exploration stage of Jericho’s project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.
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.
Director, Investor Relations
Director, Corporate Communications