CALGARY, July 7, 2016 /CNW/ - ArPetrol Ltd. ("ArPetrol" or
the "Company") announces the resignation of Mr. Abdel Badwi as interim Chief Executive Officer
of the Company effective July 6,
2016. Mr. Badwi will remain as a director of the Company.
Mr. Jason James, a current director,
has assumed the position of interim Chief Executive Officer of the
Company.
Mr. Claudio Ghersinich, Chairman
of the Board of Directors, commented:
"The Board extends its sincere appreciation to Abby Badwi for his significant contribution to
the Company as Chief Executive Officer since 2014 and for the
instrumental role he played negotiating and closing the Company's
recent sale of its assets, and we look forward to continuing to
work with him as a director. We welcome Mr. James to serve in
the role of Chief Executive Officer while we complete the
dissolution and winding-up of the Company over the coming
months."
About ArPetrol Ltd.
ArPetrol is a Calgary-based
publicly traded company whose Common Shares are listed on the TSXV
under the symbol "RPT". The Company recently completed a sale of
substantially all of its assets and no longer has active business
operations.
Additional information relating to the Company is also available
on SEDAR at www.sedar.com.
Neither the TSXV nor its Regulation Services Provider (as
defined in the policies of the TSXV) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE ArPetrol Ltd.