TORONTO, March 14, 2019 (GLOBE NEWSWIRE) -- Magnolia Colombia Limited (“Magnolia” or the “Company”) (TSXV: MCO) is pleased to welcome Neil Said to its board of directors effective immediately.   

Mr. Said is a corporate securities lawyer who works as a legal consultant to various Toronto Stock Exchange and TSX Venture Exchange listed companies in the mining, oil & gas and technology industries. He also sits on the board of directors of various public and private companies.  Mr. Said previously worked as a securities lawyer at a large Toronto corporate law firm, where he worked on a variety of corporate and commercial transactions.  Mr. Said obtained a Juris Doctor from the Faculty of Law at the University of Toronto and he received a Bachelor of Business Administration (Honours) with a minor in Economics from Wilfrid Laurier University.

The appointment of Mr. Said follows the resignation of Fred Leigh as a director of the Company.

The management and board of Magnolia would like to thank Mr. Leigh for his service and the contributions he has made to the Company and wish him well in the future.

The Company also announces that it has granted 200,000 stock options to Chris Eben who was appointed to the board of directors on November 13, 2018. The options vest immediately, have an exercise price of $0.10 and expire five years from the date of grant.  The grant of options remains subject to approval by the TSX Venture Exchange. 

About Magnolia Colombia Limited:

Magnolia Colombia Limited is a Canadian independent oil exploration company.

For further information, please contact:

James Lanthier, President & CEO
Email: james.lanthier1@gmail.com    

Cautionary Note Regarding Forward-Looking Information

This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the appointment and resignation of directors of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; competition; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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