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May 25, 2023 · Press Release
Announces Appointment Director Berezan
WesCan Energy Corp. is pleased to announce the appointment of Leo Berezan to the Board of Directors of the Company effective May 25, 2023.
WesCan Energy Corp. is pleased to announce the appointment of Leo Berezan to the Board of Directors of the Company effective May 25, 2023.
Calgary, Alberta--(Newsfile Corp. - May 25, 2023) - WesCan Energy Corp. (TSXV: WCE) ("WesCan" or the "Company") is pleased to announce the appointment of Leo Berezan to the Board of Directors of the Company effective May 25, 2023.
Mr. Berezan is a Vancouver-based businessman and major shareholder of the Company. He has extensive real estate holdings in British Columbia, Alberta and Manitoba as well as in the Dallas/Fort Worth area of Texas. He has also been a director and co-owner of R.M. Berezan & Son Ltd. for over 45 years that is involved in the ownership and leasing on a diverse landscape of commercial real estate.
Mr. Berezan has served on numerous other boards of public companies, including Rainy River Resources Ltd. from 1999 to 2013 and as chair from 2007 until it was acquired by New Gold Inc. in 2013.
The Company welcomes Mr. Berezan to the board of directors and management looks forward to working with him as his business experience and leadership are expected to contribute to WesCan's future strategic plans and growth of the Company.
Greg T. Busby, President & CEO WESCAN ENERGY CORP. Tel: (403) 265-9464
John H. Cassels, CFO WESCAN ENERGY CORP. Tel: (403) 265-9464
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/167591
This website contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes statements regarding future production rates, drilling plans, capital expenditures, reserve estimates, operating costs, and corporate strategy. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated, including commodity price volatility, exchange rate fluctuations, regulatory changes, geological risk, and the ability to obtain financing. Readers are cautioned not to place undue reliance on forward-looking information. WesCan Energy Corp. assumes no obligation to update forward-looking information except as required by applicable securities legislation. BOE conversions are based on 6 Mcf = 1 BOE, which may not reflect actual energy equivalency. Reserve estimates are based on McDaniel & Associates March 2025 evaluation of the Provost area.
Specified Financial Measures: This website refers to certain financial measures — including operating netback, net operating income (NOI), and NOI yield — that are not standardized financial measures under IFRS and may not be comparable to similar measures presented by other issuers. Operating netback is calculated as revenue less royalties, operating expenses, and workover costs, and excludes general and administrative expenses and debt service; it is therefore not a measure of free cash flow. Management uses these measures to assess operating performance; they should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Refer to the Company’s disclosure filings on SEDAR+ for the composition of these measures and reconciliations to the most directly comparable IFRS measures.
Oil & Gas Advisory: Reserve estimates and related information on this website are derived from an independent reserves evaluation prepared by McDaniel & Associates Consultants Ltd. with an effective date of March 2025, prepared in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation (COGE) Handbook. Reserve estimates are based on forecast prices and costs assumptions and are estimates only; actual reserves may be greater than or less than the estimates provided, and the estimated values do not represent fair market value. Net present values (including NPV10) are calculated using a 10% discount rate and do not necessarily represent fair market value. The reserves evaluation predates the Company’s subsequent operational activity and does not reflect results after its effective date.
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