NYSE Amex: BQI
CALGARY,
April 19, 2012 /PRNewswire/ -
Oilsands Quest Inc. (NYSE Amex: BQI) ("Oilsands Quest," or "the
Company") announces that Christopher
Hopkins has elected to resign from the Oilsands Quest Board
of Directors for personal reasons.
"As the founder of Oilsands Quest and our chief executive
officer for several years, Mr. Hopkins had an indelible impact on
the Company," said Ron Blakely,
Chairman of the Oilsands Quest Board of Directors. "He remains a
major shareholder who is keenly interested in the future of
Oilsands Quest. We thank him for his years of service and wish him
well."
About Oilsands Quest
Oilsands Quest Inc. (www.oilsandsquest.com) is exploring and
developing oil sands permits and licences, located in Saskatchewan and Alberta, and developing Saskatchewan's first commercial oil sands
discovery.
Forward-looking statements
This news release includes certain statements that may be deemed
to be "forward-looking statements." All statements, other than
statements of historical facts, included in this news release that
address activities, events or developments that management expects,
believes or anticipates will or may occur in the future are
forward-looking statements.
Forward-looking statements are statements other than relating to
historical fact and are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate",
"estimate", "potential", "prospective" and other similar words or
statements that certain events or conditions "may" "will" or
"could" occur. Forward-looking statements are based on the opinions
and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
statements, which include but are not limited to the ability to
raise additional capital, risks associated with the Company's
ability to implement its business plan, its ability to successfully
complete the previously announced solicitation process while under
creditor protection, its ability to submit a timely plan to its
stakeholders and the court under the CCAA and to resolve its
operational, legal and financial difficulties, the possible
delisting of its securities from NYSE Amex, risks inherent in the
oil sands industry, regulatory and economic risks, land tenure
risks and those factors listed under the caption "Risk Factors" in
the Company's Form 10-Q filed with the Securities and Exchange
Commission on March 8, 2012. The
Company undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions
should change, except as required by law. The reader is cautioned
not to place undue reliance on forward-looking statements.
SOURCE Oilsands Quest Inc.