International Frontier Resources Corp. has hired Tony Kinnon as vice president of business development and director. Previously, Kinnon was vice president of Macquarie Private Wealth/Richardson GMP. Also, Margaret Souleles has stepped down as a director but will continue as CFO and corporate secretary. Based in Calgary and Vancouver, IFR is an oil and gas company.
CALGARY, ALBERTA–(Marketwired – Oct. 1, 2014) – International Frontier Resources Corporation (TSX VENTURE:IFR) (“IFR” or the “Company”) on October 1st, 2014, is pleased to announce that effective October 1st, Tony Kinnon has joined the Company as VP Business Development and Director.
Mr. Kinnon has 19 years of finance experience in the oil and gas sector. Most recently he was Vice President of Macquarie Private Wealth/Richardson GMP from 2009 until September 2014. Tony has been actively involved in public venture capital his entire career which has included corporate finance, retail and institutional sales.
“We are pleased to welcome Tony as we position the company for future growth,” said Pat Boswell CEO. “Tony’s experience in finance and growing oil and gas companies, both domestically and internationally, will be a major asset.”
Margaret Souleles has resigned as a Director and will remain as CFO and Corporate Secretary. The IFR board would like to sincerely thank Margaret for her contributions and service.
The Company also announced today a non-brokered private placement of 2.8 Million units at a price of $0.065. Each unit consists of one common share of the Company ( a “Share”) and one common share purchase warrant (a “warrant”). Each warrant will entitle the holder thereof to purchase one Share at a price of $0.10 for a period of two years for the date of issuance. As Directors plan to purchase up to 100% of the private placement, it is considered to be a related party transaction for the purposes of the TSX Venture policy 5.9, however, it is exempt from the minority approval and valuation requirement of such policy. The private placement is subject to approval of the TSX Venture Exchange.
The Company’s shares are listed on the TSX-V trading under the symbol IFR.
“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 or accuracy of this release.” The Company seeks Safe Harbor.