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WesternZagros Announces Director Resignation
CALGARY, ALBERTA--(Marketwired - Feb. 10, 2015) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or the "Company") announces that John Howland has resigned from its board of directors due to unforeseen personal circumstances. Mr. Howland joined the Board of WesternZagros in March 2013 as an appointee of Crest Energy International LLC ("Crest") following Crest's second strategic investment pursuant to the terms of an investment agreement between WesternZagros and Crest dated March 10, 2013, as amended (the "Investment Agreement").
Fred Dyment, Chairman of the Board, stated: "On behalf of the Board and management, I would like to thank John for his support and valuable contribution to the Company and wish him all the best in his future endeavours."
Eric Stoerr, of Crest, stated "Crest remains strongly committed to WesternZagros and to the development of the Company's two oil and gas discoveries within the Kurdistan Region of Iraq." As a result of Mr. Howland's resignation, Crest has the right to appoint two directors to the WesternZagros Board at this time under the terms of the Investment Agreement.
About WesternZagros Resources Ltd.
WesternZagros is an international natural resources company focused on acquiring properties and exploring for, developing and producing crude oil and natural gas in Iraq. WesternZagros, through its wholly-owned subsidiaries, holds a 40 percent working interest in two Production Sharing Contracts with the Kurdistan Regional Government in the Kurdistan Region of Iraq. WesternZagros's shares trade in Canada on the TSX Venture Exchange under the symbol "WZR".
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
WESTERNZAGROS RESOURCES WAS RECOGNIZED AS A TSX VENTURE 50® COMPANY IN 2012 AND 2013. TSX VENTURE 50 IS A TRADE-MARK OF TSX INC. AND IS USED UNDER LICENSE.
