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Message: Announces Expected Changes to Its Board of Directors
| January 8, 2009 |
| BrazAlta Resources Corp. Announces Expected Changes to Its Board of Directors and Grant of Stock Options |
| CALGARY, ALBERTA--(Marketwire - Jan. 8, 2009) - BrazAlta Resources Corp. ("BrazAlta" or the "Corporation") (TSX VENTURE:BRX) is pleased to announce that it intends to make the following changes to its Board of Directors ("Board") at the Annual General and Special Meeting scheduled for February 6, 2009. The changes reflect an increased focus on its exploration and production activities in Colombia and Brazil. The Board will consist of the following members: Dr. Charle Gamba, Current Chief Executive Officer, President, and Director of BrazAlta. Past Vice President of Exploration for Occidental Oil and Gas Company (Oxy) in Colombia. Chief Geologist with Oxy in Ecuador and Chief Geoscientist for Oxy in Qatar. Geologist with 15 years of multidisciplinary experience in the oil and gas industry in Latin America, Middle East, North America, and SE Asia with Occidental Petroleum, Alberta Energy Company (EnCana), Canadian Occidental (Nexen), and Imperial Oil. Mr. Michael Hibberd, Current Director of BrazAlta, Chairman and Co-Chief Executive Officer of Sunshine Oilsands Ltd, a Canadian Oilsands exploration and development company. Chairman of Heritage Oil Limited. Current Director of Pan Orient Energy and Challenger Energy. Former Director of Rally Energy, an international junior oil and gas company. Founder of a corporate finance advisory business in 1995 that has focused on providing advice primarily to Calgary based energy companies with North American and International operations. Involved in privatization projects in North America, Latin America and Central Asia. Director and Senior Vice-President, Finance of Scotia McLeod (12 year term, ending in 1995) development company. Mr. Jason Bednar, Current Director of BrazAlta, Chief Financial Officer of Pan Orient Energy, a South East Asia Exploration company started in 2005. Past Manager of Financial Reporting for Canadian 88 Energy Corp. Former Controller of Canadian Superior Energy Inc. and from 1993 to 1998 was in a public accounting practice with clients including several exchange listed oil and gas companies. Mr. Stuart Hensman, Current Director of BrazAlta, member of the Board of Governors of CI Funds and a director of Rifco Inc. Prior to 2003, Mr. Hensman was the Chairman and Chief Executive Officer of Scotia Capital (USA) Inc. Mr. Hensman was a Managing Director (Institutional Equities) at Scotia Capital Inc. (London) from 1987 to 1999. Prior to this, he held a number of analytical and portfolio management positions at Sun Life Assurance Co. of Canada from 1981 to 1986. Mr. Hensman holds a Bachelor of Arts degree from the University of Winnipeg and a Masters of Science from the Loughborough University. Mr. Alvaro Barrera, Current Director of BrazAlta, Past President of Empresa Colombiana de Petroleos (Ecopetrol), the national oil company of Colombia, based in Bogota, Colombia. Former President of Prodegas S.A., a major Colombian gas pipeline and distribution company. A chemical engineer with over 50 years experience in the E&P industry in Colombia. Resident in Bogota, Colombia. Dr. Luis Baena, Former President and CEO and Director of Superview S.A., a Colombian tele-communications company sold to Telmex, Colombian representative of BGP, Doctor of Medicine, PhD in Business Administration from Nova South Eastern University, Masters in International Affairs in Finance and Business, Colombia University. Resident in Bogota, Colombia. Dr. David Winter, President and Chief Executive Officer of Excelsior Energy, a Canadian heavy oil exploration and production company. An internationally focused Geologist with 23 years of multidisciplinary experience, including various technical roles with BP, Sun Oil, Canadian Occidental (Nexen), Alberta Energy Company (EnCana) and Calvalley Petroleum in Latin America, North Sea, China, Netherlands, S.E.Asia and the Middle East. The outgoing directors include Mr. David Mears, Mr. Lyle Dunkley, and Mr. Lou MacEachearn. The Corporation would like to thank each of the outgoing directors for their contributions over the past years. The Corporation also announced that, subject to regulatory approval, it intends to grant a total of 3,370,000 stock options to selected directors and officers of the Corporation. The options will have an exercise price of $0.10, with a five year term to expiry. The Corporation has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 are available for the grant of these options. BrazAlta is a Canadian based international oil and gas corporation with operations in Colombia, Brazil, Guyana, Northern Ireland, and Canada. BrazAlta is publicly traded on TSX Venture Exchange (TSX VENTURE:BRX). Additional information may be found at www.brazalta.com and the Corporation's public filings may be found at www.sedar.com. |
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