Calgary, Alberta--(Newsfile Corp. - August 22, 2024) - Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") announces that it has filed the information circular - proxy statement (the "Information Circular") and related meeting and proxy materials (together with the Information Circular, the "Meeting Materials") in relation to its Annual General Meeting of shareholders (the "Meeting") and announces an additional upcoming change to the board of directors (the "Board").
As previously announced, Bengal will hold the Meeting on Thursday, September 19, 2024, at 3:00 p.m. (Calgary time) at 640, 630 6th Avenue S.W., Calgary, Alberta. Shareholders and guests can listen to the Meeting via teleconference a link will be available on the Company's website prior to the Meeting. Shareholders and proxyholders will not be able to vote their common shares of the Company via teleconference. We encourage all shareholders to submit their proxies in advance of the Meeting. Copies of the Meeting Materials are available on Bengal's SEDAR+ profile at www.sedarplus.ca.
Board of Directors Renewal
Bengal announces that Mr. Peter Lansom has informed the Company of his decision not to stand for re-election as a director at the upcoming Meeting and will retire from the Board effective at that time. Mr. Lansom, who joined the Board on September 28, 2021, has been a valued director of Bengal over the past few years.
Chayan Chakrabarty, President and Chief Executive Officer of Bengal stated: "I consider myself very fortunate to have worked with Mr. Lansom over the past two years and to have benefited greatly from his guidance and expertise. On behalf of Bengal's Board of Directors, management, employees, and stakeholders, I extend our heartfelt thanks to Mr. Lansom for his dedicated service and significant contributions. We wish him all the best in his future endeavors."
As previously announced, Mr. Robert Steele will also not stand for re-election as a director at the Meeting and will retire as a member of the Board at the Meeting.
Bengal is pleased to announce the nomination of Mr. R. Neal Grant, based in Adelaide, Australia, for election to the Board at the Meeting. Mr. Grant holds an Engineering degree and an MBA from the University of Calgary and brings over 40 years of experience to the role. His career has included significant roles in various technical and operational capacities, including work with other producers in the Cooper Basin and involvement with a Western Canadian CO2 project.
His extensive background in engineering and financial management, coupled with hands-on experience in leadership, auditing, and compliance, makes him exceptionally well-suited for the Board.
Chayan Chakrabarty further commented: "We are thrilled to welcome Mr. Grant to our Board. His extensive experience in the Cooper Basin and the Western Canadian Sedimentary Basin, combined with his strong technical and operational expertise and industry contacts, will bring invaluable business insights to Bengal. We look forward to the significant contributions he will make to our strategic direction and growth."
Since May 2023, Mr. Grant has been an independent businessman. Prior to this, he served as General Manager of Todd Energy Canada Ltd. from July 2017. He has also held senior positions, including Chief Financial Officer for two private companies and General Director and COO at Samotlor Services, where he developed substantial expertise in financial audits, compliance, and internal controls.
About Bengal
Bengal Energy Ltd. is an international junior oil and gas exploration and production company with assets in Australia. The Company is committed to growing shareholder value through international exploration, production and acquisitions. Bengal's common shares trade on the TSX under the symbol "BNG". Additional information is available at www.bengalenergy.ca.
CAUTIONARY STATEMENTS:
Forward-Looking Statements
This news release contains certain forward-looking statements or information ("forward-looking statements") as defined by applicable securities laws that involve substantial known and unknown risks and uncertainties, many of which are beyond Bengal's control. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. The use of any of the words "plan", "expect", "future", "project", "intend", "believe", "should", "would," "anticipate", "estimate", "advance", "continue", "new", "develop" or other similar words or statements that certain events "may" or "will" occur are intended to identify forward-looking statements. In particular, forward-looking statements contained herein include, but are not limited to, statements regarding: the anticipated board changes; and expectations regarding the timing, format and location of the Meeting.
The projections, estimates and beliefs contained in such forward-looking statements are based on management's estimates, opinions, and assumptions at the time the statements were made, including assumptions relating to the ability to hold the Meeting on the expected timing, in the planned location and in the anticipated format; that the date of the Meeting doesn't change; and the anticipated changes to the Board and the expected benefits to be derived therefrom. We believe the expectations reflected in those forward-looking statements are reasonable but, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Bengal will derive from them. As such, undue reliance should not be placed on forward-looking statements.
Forward-looking statements are subject to numerous factors, many of which are beyond the Company's control, including that the Meeting date could be postponed or changed; that the location, timing and format of the Meeting may change; that the anticipated timing of the Board changes are different than as set forth herein; and the risk factors disclosed previously and from time to time in the Company's filings available under its SEDAR+ profile at sedarplus.ca. The forward-looking statements contained in this news release speak only as of the date hereof and Bengal does not assume any obligation to publicly update or revise them to reflect new events or circumstances, except as may be require pursuant to applicable securities laws.
