(TheNewswire)
October 4, 2022 – TheNewswire - Calgary, Alberta – EF EnergyFunders Ventures, Inc. (the “Corporation”)(TSXV:EFV) is pleased toannounce that its wholly-owned subsidiary, EnergyFunders LLC (“EnergyFunders”), has entered into an employment agreement (the “PommerEmployment Agreement”) with Laura Pommer, to act as Chief Executive Officer and an employment agreement (the “Light Employment Agreement”) with Virginia Light, to act as Vice President of Reservoir Engineering & Regulatory Affairs.
Pursuant to the terms of the Pommer Employment Agreement, Ms. Pommer will serve in the capacity as Chief Executive Officer of EnergyFunders. EnergyFunders may terminate the Pommer Employment Agreement at any time with or without cause. Subject to approval of the TSX Venture Exchange (the “TSXV”), the Corporation shall issue common shares of the Corporation, provided that Ms. Pommer has been continuously employed through each of July 1, 2022 and January 1, 2023, with a value of US$15,000 in each instance, at a deemed price based on the 10-day volume weighted average price of the common shares on the payment date (and subject to the minimum pricing requirements of the TSXV). In connection with the first issuance, the Corporation has issued 965,025 common shares at a deemed price of CDN$0.02, subject to final approval of the TSXV.
Pursuant to the terms of the Light Employment Agreement, Ms. Light will serve in the capacity as Vice President of Reservoir Engineering & Regulatory Affairs of EnergyFunders. EnergyFunders may terminate the Light Employment Agreement at any time with or without cause. Subject to approval of the TSXV, the Corporation shall issue common shares of the Corporation, provided that Ms. Light has been continuously employed through January 1, 2023, with a value of US$15,000, at a deemed price based on the 10-day volume weighted average price of the common shares on the payment date.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of theTSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
EF EnergyFunders Ventures, Inc. is an oil and natural gas investment company headquartered in Calgary, Alberta, with executive offices in San Antonio, Texas. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "EFV" and on the OTC Pink as "EFVIF".
For further information please contact:
Laura Pommer
Chief Executive Officer
Email: laura@energyfunders.com
EF EnergyFunders Ventures, Inc.
716 S. Frio St., Suite 201
San Antonio, Texas 78207
Telephone: 254-699-0975
Media Contact:
Aquila Mendez-Valdez
aquila@hitpr.com
210.606.5251
Forward Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this news release contains forward-looking information regarding the Pommer Employment Agreement, the Light Employment Agreement, and the business of EnergyFunders. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects EnergyFunders's current beliefs and is based on information currently available to EnergyFunders and on assumptions EnergyFunders believes are reasonable. These assumptions include, but are not limited to: the underlying value of EnergyFunders’s common shares, EnergyFunders's current and initial understanding and analysis of its projects and the exploration required for such projects; the costs of EnergyFunders's projects; EnergyFunders's general and administrative costs remaining constant; and the market acceptance of EnergyFunders's business strategy.
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 EnergyFunders to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: volatility in market prices for oil and natural gas; constraints on sour gas production; the availability of commodity markets and third party equipment, infrastructure and services; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; geological, technical, drilling and processing availability, upsets or problems; general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting EnergyFunders; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in EnergyFunders's disclosure documents on the SEDAR website at www.sedar.com. Although EnergyFunders 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. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of EnergyFunders as of the date of this news release and, accordingly, is subject to change after such date. However, EnergyFunders expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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