| ||November 07, 2016|
Georox Resources Announces Changes In Corporate Staffing
Kelowna, British Columbia, Canada, November 7, 2016: Georox Resources Inc. ("Georox" or the "Corporation"(GXR:TSX-V; OF6A:FRA) wishes to announce that Mr. Wayne Fast, P. Eng., V.P. Operations and Corporate Development has resigned. The Corporation thanks Mr. Fast for his dedication and commitment to the Corporation and wishes him well.
The Corporation has appointed Mr Robert Richardson, P. Eng., MEB. as Manager of Operations. Mr. Richardson is a professional engineer with twenty years of experience and brings exceptional skills to the Corporation in reservoir and exploitation engineering, geology, geophysics and production as well as management and leadership skills. Mr. Richardson has worked in positions of increasing responsibilities including Vice President of Exploitation for several companies including Petrobank Energy, Canadian Natural Resources, Mission Oil and Gas, Star Point Energy and Palliser Oil. Mr. Richardson has a B.Sc. in Petroleum Engineering, a Masters of Energy Business and is a member of both APEGA and Beta Gamma Sigma.
The Corporation has appointed Mr. Mansoor Anjum as VP of Finance and Business Development Mr. Anjum is currently a director of the Corporation and has been a business executive with 25 years experience in business development and financial management in the oil and gas industry. Mr. Anjum has worked in both the upstream and downstream sectors of the industry and has significant experience in valuing new acquisitions and identifying growth opportunities for companies. Mr Anjum is currently President and the owner of Gressenhall Enterprise Ltd., a private company involved in retail business. He was formerly President of Nebula Energy Ltd., a private oil and gas consulting company, and was President and CEO of Java Capital Inc., a TSX-V-listed company, and CEO of Meteor Marketing Inc., USA, a petroleum products distributor. Mr. Anjum holds an MBA degree from the University of Toronto.
The Corporation currently produces approximately 140 boepd of which 75% is light oil, 24% is heavy oil and 1% is gas.
For further information:
Burkhard Franz, President and Chief Executive Officer
Tel: (403) 457-9010
Fax: (403) 265-7424 Website: www.georoxresources.com
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. 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. More particularly, it contains forward-looking statements concerning the use of proceeds from the Private Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States. The Units (or constituent securities) have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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