Badwi will be appointed to the Board of Directors of Bankers upon completion of a private placement by the new appointees and has agreed to assume the position of Chief Executive Officer of Bankers on February 1, 2008. Richard Wadsworth will continue as President and will become Chief Operating Officer at that time. Badwi was President and CEO of Rally Energy Corp., an oil and gas exploration, development and production company listed on the TSX, until its sale in September 2007. Urch was Vice President, Finance and CFO and Mr. McMurtrie was Vice President, Exploration, of Rally Energy Corp.
Messrs. Badwi, Urch and McMurtrie have agreed to purchase, on a non-brokered private placement basis, an aggregate of 4.4 million units of the Company, at a price of $0.50 per unit. The $2.2 million in proceeds from the placement will be added to the Company's working capital.
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