/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/
CALGARY, June 26 /CNW/ - On behalf of Western Energy Services Corp. ("Western"), Mr. John Halliwell, Chairman of the Board, is pleased to announce that Mr. Jonathon Waddell has been appointed to the Board of Directors, subject to all regulatory and corporate approvals.
Mr. Waddell, C.A. has over 30 years experience providing investment tax and financial advisory services to corporate and individual clients. He is currently the Managing Partner and Chief Financial Officer of Grenville Properties Ltd., which in the past 10 years has developed, promoted and managed 11 successful Real Estate Limited Partnerships in Alberta and British Columbia. Mr. Waddell is also Vice President of Germain Residences Inc., which is currently developing a $135 million Grenville - Germain project in Calgary's downtown core.
In 2005, Mr. Waddell founded Grenville Energy Limited Partnership ("Grenville") to acquire oil and gas services equipment, which was placed into a joint venture with Western Energy. In 2007, the joint venture with Western was wound up when Western acquired all of Grenville's assets. Mr. Waddell is currently Western Energy's largest individual shareholder.
In addition to his shareholdings in the Company, Mr. Waddell is the President of 1063645 Alberta Ltd. to whom the Company's short term borrowings are payable. 1063645 Alberta Ltd. is also the general partner of Grenville, which holds a convertible note that was issued by the Company.
Western is an oil field services company trading on the TSX Venture Exchange in Canada under the symbol "WSV".
Forward Looking Information
This release contains certain forward-looking statements related but not limited to the Company's expectations, intentions, plans and beliefs. Investment advisors, shareholders and potential investors are cautioned not to place undue reliance on forward-looking information which by its nature involves assumptions, risks and uncertainties, both general and specific, that contribute to the possibilities that predictions, projections, forecasts and future events will not occur. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not assume any responsibility to update this information for events subsequent to its preparation.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.