Mr. Dean Callaway reports
SONORO ENERGY LTD. ANNOUNCES NEW CHIEF EXECUTIVE OFFICER
Robert Bensh will be joining Sonoro Energy Ltd. as president and chief executive officer, effective immediately. Mr. Bensh will also be appointed as a director of the company upon completion of submissions to and approval from the TSX Venture Exchange.
Mr. Bensh is a Texas energy executive, investor and strategic adviser with more than two decades of experience across upstream, mid-stream, LNG (liquefied natural gas) and global energy trading. He has founded, scaled and led multiple energy ventures spanning the United States, Eastern Europe and the Middle East, with deep expertise in crude oil, refined products, LNG, infrastructure development and complex cross-border transactions. Mr. Bensh has worked extensively with governments, national oil companies, multilaterals and private capital, combining commercial execution with geopolitical and energy security insight.
Greg Renwick will step down as the chief executive officer and director of Sonoro. Mr. Renwick will continue acting as a consultant to Sonoro, having made valued contributions to projects in Bahrain and Iraq that Sonoro continues to develop.
Sonoro will issue Mr. Bensh 500,000 common shares as a signing bonus and 1.5 million common share options at a price of five cents with a term of five years. The company will also issue an additional 4.3 million common share options to board members, management, consultants and employees under the same terms.
Sara Akbar, Sonoro's chairwomen of the board, says: "Mr. Renwick has been a valued executive and director during his time at Sonoro, and I look forward to having Greg assist us in the Middle East with his vast knowledge base. I welcome Mr. Bensh and my continued working relationship with him as he brings many years of oil and gas experience in North America and internationally that will be extremely helpful for the success of Sonoro."
The management changes and options issuance are subject to TSX Venture Exchange approval.
We seek Safe Harbor.
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