CALGARY, Sept. 9 /CNW/ - Result Energy Inc. ("Result" or the "Corporation" - TSX-V: RTE) is pleased to announce that it has reached an agreement with its lender to extend its existing credit facilities to December 31, 2009. This extension will allow the company to complete its previously announced strategic review in a prudent manner.
Result also announces that at its Annual Meeting of Shareholders (the "Meeting") held on August 17, 2009, five directors were elected to the board of Result. William M. Matheson, Garry S. Kelman, Gary F.H. Martin and Nicholas G. Kirton who are currently directors of Result were re-elected and Roderick A. Ferguson was also elected to the board.
Mr. Ferguson is a Partner in the Calgary office of Fasken Martineau DuMoulin LLP, specializing in Securities and Corporate Law. Fasken Martineau is one of the world's leading international business law and litigation firms with more than 650 lawyers at its offices in Canada, the United Kingdom and South Africa. Over his 30 year career, Mr. Ferguson has provided legal advice to, and has served as a member of, the boards of directors of several public and private companies.
He is currently a director of Chartwell Technology Inc., a leading international provider of gaming software systems and entertainment content to the online and remote gaming industry, whose shares are listed on the Toronto Stock Exchange.
Result Energy Inc. is a publicly traded Canadian energy company involved in the exploration and development of oil and gas properties in western Canada. Result trades on the TSX Venture Exchange under the symbol "RTE".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.