EFV:CC - ENERGYFUNDERS LLC Enters into Employment Agreements with Officers
(TheNewswire)
October 4, 2022 – TheNewswire - Calgary, Alberta – EF EnergyFunders Ventures, Inc. (the “ Corporation ”) (TSXV:EFV) is pleased to announce thatits wholly-owned subsidiary, EnergyFunders LLC (“ EnergyFunders ”),has entered into an employment agreement (the “ Pommer Employment Agreement ”) with Laura Pommer, to act as Chief Executive Officer andan employment agreement (the “ Light Employment Agreement ”) with VirginiaLight, to act as Vice President of Reservoir Engineering &Regulatory Affairs.
Pursuant to the terms of the Pommer EmploymentAgreement, Ms. Pommer will serve in the capacity as Chief ExecutiveOfficer of EnergyFunders. EnergyFunders may terminate the PommerEmployment Agreement at any time with or without cause. Subject toapproval of the TSX Venture Exchange (the “ TSXV ”), theCorporation shall issue common shares of the Corporation, providedthat 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 volumeweighted average price of the common shares on the payment date (andsubject to the minimum pricing requirements of the TSXV). Inconnection with the first issuance, the Corporation has issued 965,025common shares at a deemed price of CDN$0.02, subject to final approvalof the TSXV.
Pursuant to the terms of the Light EmploymentAgreement, Ms. Light will serve in the capacity as Vice President ofReservoir Engineering & Regulatory Affairs of EnergyFunders.EnergyFunders may terminate the Light Employment Agreement at any timewith or without cause. Subject to approval of the TSXV, theCorporation shall issue common shares of the Corporation, providedthat 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 onthe payment date.
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 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
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", orvariations of such words and phrases, or by the use of words orphrases which state that certain actions, events or results may,could, would, or might occur or be achieved. In particular, this newsrelease contains forward-looking information regarding the PommerEmployment Agreement, the Light Employment Agreement, and the businessof EnergyFunders. There can be no assurance that such forward-lookinginformation will prove to be accurate, and actual results and futureevents could differ materially from those anticipated in suchforward-looking information. This forward-looking information reflectsEnergyFunders's current beliefs and is based on information currentlyavailable to EnergyFunders and on assumptions EnergyFunders believesare reasonable. These assumptions include, but are not limited to: theunderlying value of EnergyFunders’s common shares, EnergyFunders'scurrent and initial understanding and analysis of its projects ?andthe exploration required for such projects; the ?costs ofEnergyFunders'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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