Canadian Energy announced effective immediately, Mr. John C. McGilvary has been appointed to the Board of Directors of the Company.
Mr. McGilvary has been the President of Oilbank Exploration Inc., a private company since 2004. Mr. McGilvary graduated from the Laurentian University with his B. Sc. in Geology in 1973 and began his career as a mining geophysicist with Shell Canada Resources Limited, and went on to hold the positions of Chief Geologist - Exploration Manager at Trans-Canada Resources Ltd., Vice President and Director at Baca Resources Group, President and Director at Futurity Energy Corporation and was Chief Operating Officer of Viking Energy Royalty Trust through to 2004. Mr. McGilvary is a member of A.P.E.G.G.A. as a professional geologist and has a penchant for and history of assisting small oil and gas firms with strategic and technical advice.
Canadian Energy also granted Mr. McGilvary incentive options to acquire up to 500,000 common shares of the Company for a period of five years ending July 21, 2016 at an exercise price equal to the closing price of the common shares on the last trading day before July 22, 2011, one third to vest immediately and one third to vest every 18 months thereafter.
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