Innocent Inc., a
development stage oil and gas exploration and production company, announced
today that it has accepted the resignation of Wayne Doss. The company’s current
Chief Operating Officer, Patrick Johnson, has been promoted to be the company’s
new Chief Executive Officer. Concurrent with these moves, Terry Lynch was
appointed as new President and Chairman of the Board.
A 1981 graduate from
St. Francis Xavier University, Mr. Lynch received a joint honors degree in
Economics and BBA. Before becoming CEO of Chilean Metals Inc. in 2012, Mr.
Lynch had been CEO of privately held Relief Gold. He also had been a director
and later CEO of TSX-listed Firstgold Corp. He accepted the CEO position
following the company’s period of financial difficulty bringing its Relief
Canyon mine into production. Further, Mr. Lynch arranged a sale of 51% of the
company for $26.5 million from Northwest Non Ferrous Metals, a large mining and
engineering group in China. After the US government rejected the company
takeover, the company filed for bankruptcy. During the period between October
2005 and August 2008 Mr. Lynch was a partner with Kingsmill Capital Partners, a
financial advisory firm skilled at advising public and private companies in
early-stage growth mode. Prior to Kingsmill Capital, he spent 15 years
operating startup companies in industrial products, media and oil and gas where
he was President and co-founder of Pacific Tiger Energy, a Canadian-listed
company that was eventually acquired by Pan Orient Energy Corp.
Patrick Johnson, CEO
of Innocent, commented, “We face considerable challenges in front of us in
order to restore and create additional shareholder value and feel Terry’s
expertise in corporate restructuring and capital formation will be very
helpful. Our objective in the short term is to provide a stable balance sheet
for the company as we move towards our long term goal of creating a
technology-driven North American oil and gas exploration and production
company.”
Innocent Inc. plans
to minimize the risk of exploration through development of proved petroleum
reserves, and anticipates maximizing profit through strategic acquisition and
liquidation of selected oil and gas properties.
For more information
on the company, visit www.innocentinc.com
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