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Bronco Energy
Message: New Directors and President
| February 10, 2009 |
| Bronco Announces New Directors and President |
| CALGARY, ALBERTA--(Marketwire - Feb. 10, 2009) - Bronco Energy Ltd. ("Bronco" or the "Company") (TSX:BCF) announces the following director and management changes. Appointments Jim Dinning, Allan H. T. Crosbie and Anthony F. Griffiths have been appointed as new directors of the Company, subject to the approval of the Toronto Stock Exchange ("TSX"). These directors have accepted the Company's invitation to join its Board to further guide the Company's financing and growth through the continued development of the Company's significant heavy oil asset base. These new directors bring a depth of experience within the Canadian capital markets. Dan Toews, Neil Dore and Bryce Tingle have resigned from the Board to provide vacancies for the appointment of the new directors. The Board is now comprised of Jim Dinning (Chair), Allan H. T. Crosbie, Anthony F. Griffiths, Brian W. Alford, G. Lawrence Spackman and James V. Esposito. Messrs. Toews, Dore and Tingle were instrumental in assisting and guiding the Company from its inception. The Board and management want to convey their respect and appreciation for the significant contributions made by these individuals to the Company. They will be available as special advisors to the new Board as required. The Company also announces the resignation of Brian W. Alford from his position as President and CEO. Mr. Alford will continue as a member of the Board. The Board has appointed Peter J. Pelensky as interim President of the Company, subject to the approval of the TSX. The Board wants to convey their sincerest gratitude to Mr. Alford for his role as founder and leader of the Company from its initial public offering in 2005. Experience Jim Dinning is chair of Western Financial Group Inc., a western Canadian financial services company. He has served as Executive Vice President of TransAlta Corporation and for eleven years was a member of the legislative assembly of Alberta. He was Alberta's Provincial Treasurer from 1992 to 1997. Mr. Dinning is a Director of Russel Metals Inc, Parkland Income Fund, Liquor Stores Income Fund and Oncolytics Biotech Inc. as well as other private companies and not-for-profit organizations. He is chair of Export Development Canada. Allan H. T. Crosbie is Chair of Crosbie & Company Inc., a Toronto-based investment bank. He has acted in a broad range of investment banking transactions across Canada and internationally. Crosbie & Company is a leader in its market. Mr. Crosbie has been a director of a number of public and private companies and not-for-profit organizations. He is on the Board and a member of the Investment Committee of the National Ballet of Canada Foundation and is on the Board and Chair of the Investment Committee of the Arthritis & Autoimmune Foundation of the University Health Network. Anthony F. Griffiths is currently an independent business consultant and corporate director. He is a Director of AbitibiBowater Inc., Fairfax Financial Holdings Limited (and related companies: Northbridge, Crum & Forster and OdysseyRe), Jaguar Mining Inc., PreMD Inc. and Vitran Corporation Inc. and Chairman of Russel Metals Inc. and Novadaq Technologies Inc. Mr. Pelensky has gained experience in senior roles with a number of heavy oil companies, including with BrazAlta Resources Corp. and Sequoia Oil & Gas Trust. |
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