Business
Columbus Energy Announces Cost Reduction Program and Resignations
Vancouver, British Columbia--(Newsfile Corp. - June 6, 2014) - Columbus Energy Limited (TSXV: ...
About this update from Columbus Energy Limited
[{"type":"text","content":"\nColumbus Energy Announces Cost Reduction Program and ResignationsVancouver, British Columbia--(Newsfile Corp. - June 6, 2014) - \nColumbus Energy Limited (TSXV: CEL) has begun a cost reduction program as \nfollows: \n\nThe Board of Directors has been reduced by three.\n\nMr. Houston's resignation was announced on May 26, 2014. \n\nRobert Laslett has resigned as Director and Chairman effective May 29, 2014. Mr. Laslett has served on the Board of Directors since October 2012.\n\nDouglas Scheving has resigned as Director, Chief Financial Officer, and Corporate Secretary effective \nMay 31, 2014. Mr. Scheving has been a Director since October 1996. \n\nIn addition to the reduction in the number of Directors the Company has closed its European office, allowed the Investor Relations contract with Grenfell Consultants to expire, and cut the fees paid to officers by 50%. These and other measures are \nexpected to reduce company operating costs by 67%. \n\nThe Company thanks Mr. Laslett and Mr. Scheving for their contributions to the Company. \n\nJack BesMargian has been appointed Chief Financial Officer and Corporate Secretary. \n\n\"Jack BesMargian\" \nJack BesMargian \nDirector, Corporate Secretary \n\nNeither TSX Venture Exchange not its regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. \n\nContact Information: \nColumbus Energy Limited \nJack BesMargian \nDirector and Corporate Secretary \nPhone 604 684 7619\n\t\t\t\n\t\t\t\tcopyright (c) newsfile corp. 2014. all rights reserved\n\t\t\t\n \n","length":1923,"tagName":"div"}]