EFV:CC - EF Energyfunders Ventures Inc. Announces Management Change and Strategic Shift
(TheNewswire)
April 12, 2023 – TheNewswire– Calgary, Alberta – EF EnergyFundersVentures, Inc. (the “Corporation” or “EF EnergyFunders”), aleading organization in the energy investment and fintech sector, isproud to announce its new strategy focusing on the acquisition anddevelopment of high-quality upstream oil and gas assets primarilylocated within in the United States. To further this new strategy, theCorporation is also announcing the transition to a new management teamled by Chief Executive Officer, Jason Eubanks.
Along with Mr. Eubanks, incoming Chief OperatingOfficer, Brian Gaudet, and incoming Chief Financial Officer, GregoryLadeveze, have extensive experience building successfulmultidisciplinary teams to identify, evaluate, acquire and develop oiland gas assets in multiple U.S. basins. Together, the incomingmanagement team has 60 years of combined experience in the upstreamoil and gas sector.
Under the new leadership, the Corporation aims tosignificantly grow its cash flow and reserves by pursuingopportunities that offer a combination of existing cash flow andgrowth potential. The Corporation aims to prioritize investments inproven reserves and established assets, leveraging its expertise tomaximize returns while mitigating risk.
As part of this strategic realignment, the Corporationplans to continue to grow and manage its existing funds, as well asthe investment platform and fintech business through its wholly ownedsubsidiary, EnergyFunders, LLC.
“We are excited to be a part of this new chapter forEF EnergyFunders” said Eubanks. “With the Corporation’s revisedstrategy and our team’s skill set, we believe we are well positionedto capitalize on opportunities in the upstream oil and gas sector,delivering value to our investors while maintaining a disciplinedapproach to risk management and capital allocation.”
The management change and strategic shift reflect theCorporation’s dedication to adaptability and resilience in a dynamicmarket environment. By focusing on acquiring high-quality assets withcash flow and development upside, and optimizing the structure of itssubsidiaries, the Corporation reaffirms its commitment to long-termgrowth and sustainability.
Laura Pommer, Garrett Glass, and Virginia Light haveresigned as Chief Executive Officer, Chief Financial Officer, and VicePresident of Reservoir Engineering, respectively, to focus theirefforts on the private oil and gas sector. EF EnergyFunders ispleased to announce that Ms. Pommer and Mr. Glass will continue to beactively involved with the Corporation as directors and that Ms. Lightwill also continue to be involved with the Corporation as Secretaryand Vice President of Regulatory Affairs. The management changes aresubject to approval of the TSX Venture Exchange.
Neither the TSXVenture Exchange nor its Regulation Services Provider (as the term isdefined in the policies of the TSX Venture Exchange) accepts responsibility forthe adequacy or accuracy of this release.
EF EnergyFunders Ventures, Inc. is an oil and naturalgas investment company headquartered in Calgary, Alberta, withexecutive offices in San Antonio, Texas. The Corporation's commonshares are listed on the TSX Venture Exchangeunder the trading symbol “EFV” and on the OTC Pink as “EFVIF”.
For further information please contact:
Jason Eubanks
Chief Executive Officer
Email: jason@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
210-606-5251
Forward Looking Statements
This news release contains “forward-lookinginformation” within the meaning of applicable Canadian securitieslegislation. All statements, other than statements of historical fact,included herein are forward-looking information. Generally,forward-looking information may be identified by the use offorward-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 useof words or phrases which state that certain actions, events orresults may, could, would, or might occur or be achieved. Inparticular, this news release contains forward-looking informationregarding the business of EnergyFunders. There can be no assurancethat such forward-looking information will prove to be accurate, andactual results and future events could differ materially from thoseanticipated in such forward-looking information. This forward-lookinginformation reflects EnergyFunders's current beliefs and is based oninformation currently available to EnergyFunders and on assumptionsEnergyFunders believes are reasonable. These assumptions include, butare not limited to: the underlying value of EnergyFunders’s commonshares, EnergyFunders's current and initial understanding and analysisof its projects ?and the exploration required for such projects; the?costs of EnergyFunders's projects; EnergyFunders's general ?andadministrative costs remaining constant; and the ?market acceptanceof EnergyFunders's business strategy?.
Forward-looking information is subject to known andunknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements ofEnergyFunders to be materially different from those expressed orimplied by such forward-looking information. Such risks and otherfactors may include, but are not limited to: volatility in marketprices 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 naturalgas operations; uncertainties associated with estimating oil andnatural gas reserves; geological, technical, drilling and processingavailability, upsets or problems; general business, economic,competitive, political and social uncertainties; general capitalmarket conditions and market prices for securities; delay or failureto receive board or regulatory approvals; the actual results of futureoperations; competition; changes in legislation, includingenvironmental legislation, affecting EnergyFunders; the timing andavailability of external financing on acceptable terms; and lack ofqualified, skilled labour or loss of key individuals. A description ofadditional assumptions used to develop such forward-lookinginformation and a description of additional risk factors that maycause actual results to differ materially from forward-lookinginformation can be found in EnergyFunders's disclosure documents onthe SEDAR website at www.sedar.com. Although EnergyFunders hasattempted to identify important factors that could cause actualresults to differ materially from those contained in forward-lookinginformation, there may be other factors that cause results not to beas anticipated, estimated or intended. Readers are cautioned that theforegoing list of factors is not exhaustive. Readers are furthercautioned not to place undue reliance on forward-looking informationas there can be no assurance that the plans, intentions orexpectations upon which they are placed will occur. Forward-lookinginformation contained in this news release is expressly qualified bythis cautionary statement. The forward-looking information containedin this news release represents the expectations of EnergyFunders asof the date of this news release and, accordingly, is subject tochange after such date. However, EnergyFunders expressly disclaims anyintention or obligation to update or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise, except as expressly required by applicable securitieslaw.
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