/NOT FOR DISSEMINATION IN THE U.S. NOR FOR
DISTRIBUTION TO U.S. NEWS WIRE SERVICES AND DOES NOT CONSTITUTE AN
OFFER OF THE SECURITIES DESCRIBED HEREIN/
VANCOUVER, BC, Aug. 8, 2022
/CNW/ - Virginia Energy Resources Inc. (TSX.V: VUI) ("Virginia
Energy" or the "Company") is pleased to announce the
appointment of Joseph Mullin as
President of the Company.
Mr. Mullin was most recently the CEO and Director of QuestEx
Gold & Copper, prior to its sale. He has over 20 years of
experience in resource investing, corporate finance and private
equity. Mr. Mullin began his career as a Financial Analyst in
Investment Banking at Goldman Sachs, and subsequently worked at
Invesco Ltd. and Millennium Global Investments Ltd. He is currently
a Partner and Director of Mount Arvon Partners LLC and serves as an
independent Director of Pure Energy Minerals Ltd. and FireFox Gold
Corp. Mr. Mullin has a B.A. from Harvard
University.
"Virginia Energy is very pleased to welcome Mr. Mullin as its
President. Joe's background with resource companies and in
particular his experience with mergers and acquisitions are strong
assets which will boost the Virginia Energy team as we chart our
course," stated Walter Coles Sr.,
CEO of Virginia Energy.
Subject to regulatory and shareholder approval, the Company has
granted Mr. Mullin 500,000 Restricted Stock Units ("RSUs") vesting
if rafter two years, or on a Change of Control ("CoC")
transaction.
About Virginia Energy
Virginia Energy Resources Inc. is a uranium development and
exploration company. The Company holds a 100% controlling interest
in the advanced stage Coles Hill uranium project located in south
central Virginia, USA.
On Behalf of the Board of Directors of
VIRGINIA ENERGY RESOURCES INC.
"Walter Coles Sr."
Walter
Coles, Sr.
President & CEO
Certain of the statements in this press release may
constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable
Canadian securities laws. Forward-looking information includes, but
is not limited to, implications regarding the successful or
unsuccessful closing of a private placement financing, or
statements relating to filing of a lawsuit in federal court against
the Commonwealth of Virginia.
Forward-looking statements and forward-looking information
generally express predictions, expectations, beliefs, plans,
projections, or assumptions regarding future events or performance,
they do not constitute historical fact and they are subject to a
variety of risks and uncertainties which could cause actual events
or results to differ materially from those anticipated or implied
in such information or statements. Forward-looking statements and
information contained in this release are based on the beliefs,
estimates, and opinions of management on the date the statements
are made. There can be no assurance that such statements or
information will prove to be accurate. Actual results may differ
materially from those anticipated or projected.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
The securities referred to in this news release have not
been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or
for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption from the U.S. registration
requirements. This news release does not constitute an offer for
sale of securities for sale, nor a solicitation for offers to buy
any securities. Any public offering of securities in the United States must be made by means of a
prospectus containing detailed information about the company and
management, as well as financial statements.
SOURCE Virginia Energy Resources Inc.