Marsa Energy announces appointment of Interim Chief Financial Officer
Marsa Energy Inc. (TSX VENTURE:MEP) announces that, in conjunction with the pending closing of the acquisition of Marsa by Condor Petroleum Inc., Mr. Ricardo Montes has resigned as Vice President of Finance and Chief Financial Officer and Mr. Sandy Quilty has been appointed the Corporation's Interim Chief Financial Officer, effective immediately. Mr. Montes was a cofounder of Marsa and an integral part in achieving the Corporation's success in Turkey. The Board of Directors of Marsa wishes to thank Mr. Montes for his exemplary services to the Corporation.
Mr. Quilty is currently the Vice President of Finance and Chief Financial Officer of Condor and will also act as the Interim Chief Financial Officer of Marsa until the completion of the previously announced plan of arrangement, between Marsa and Condor, whereby, among other things, Condor will acquire all of the issued and outstanding common share of Marsa.
As previously announced on March 11, 2016, if the consent of the Ministry of Energy and Natural Resources for the Republic of Turkey is obtained and the other conditions to the completion of the Arrangement are satisfied or waived, Condor and Marsa are confident that the Arrangement can be completed on or before April 11, 2016.
Condor Petroleum Inc
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