QUEBEC CITY, QUEBEC--(Marketwired - Aug. 21, 2014) - Junex Inc. (TSX VENTURE:JNX) ("Junex" or the "Company") is pleased to announce the appointment of Mr. Henry Sauvagnat to its board of directors. Mr. Sauvagnat is President and CEO of Chempap Inc. and has been a leader in advising entrepreneurial startups as well as international companies in project financing and M&A for over 20 years. He has also acted as Vice-President Sustainable Development of Cascades Inc., where in 2011 he accepted on its behalf the Canadian Corporate Social Responsibility award. He has co-chaired the board of FSC-Canada and was the founding president of FSC France, as well as a member of the FSC International Global Carbon Working Group, UN Climate Change Conference in Copenhagen. He holds an MBA (Finance) from Syracuse University in New York, a BSc in Industrial Engineering Management from the University of Wyoming, a B.Com from McGill University, and an LSc. in Mathematics from Collège Stanislas in Paris, France.
Junex also announces that it has granted a total of 1,525,000 share purchase options to certain directors and officers, each at an exercise price of $0.59 and valid for 10 years. They will vest in equal tranches of 20%, beginning on the date of issuance and then on each anniversary date thereof.
Junex is a junior oil and gas exploration company that holds exploration rights on approximately 5.2 million acres of land located in the Appalachian basin in the Province of Quebec. The company is in the heart of the Utica Shale gas discovery located in the St. Lawrence Lowlands and holds a significant land-package on the Anticosti Island where an independent report has provided their Best Estimate of the undiscovered shale oil initially-in-place ("OIIP") volume for the Macasty Shale on all five of Junex's permits on Anticosti Island at 12.2 billion barrels. In parallel to its exploration efforts in Quebec and expansion of its exploration activities elsewhere, the company operates a drilling services division.
Forward-Looking Statements and Disclaimer
Certain statements in this press release may be forward-looking. Forward-looking statements are based on the best estimates available to Junex at the time and involve known and unknown risks, uncertainties and other factors that may cause Junex's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting Junex's business and activities appears under the heading "Risks and Uncertainties" on pages 8 to 11 of Junex's 2013 annual management's discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Junex will derive therefrom. In particular, no assurance can be given as to the future financial performance of Junex. Junex disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event. The reader is warned against undue reliance on these forward-looking statements.
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