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Acadia Resources Corp
Symbol AIC
Shares Issued 47,738,945
Close 2013-07-03 C$ 0.075
Market Cap C$ 3,580,421
Recent Sedar+ Documents

ORIGINAL: Acadia Resources director Cherry resigns

2013-07-03 18:31 ET - News Release

Received by email:

File: News Release July 2013 Combo PP and Board Changes (2).doc

ACADIA RESOURCES CORP.
408 - 837 West Hastings Street, Vancouver, BC  V6C 3N6
Tel: (604) 684-6264    Fax: (604) 684-6242

NEWS RELEASE

Vancouver, British Columbia, July 3, 2013 
Acadia Resources Corp. ("Acadia" or "the Company") (TSX.V: AIC) 
RECENT CHANGES TO THE BOARD
Further to the Company's news release of April 30, 2013 in which the Company announced the appointment of Yogeshwar Sh
--->arma and Peter Clutterbuck as directors of the Company, the Company announces that: 
(a) 	Chris Cherry has resigned as a director of the Company; 
(b) 	the Company's Board of Directors now consists of Read Taylor, Yogeshwar Sharma and Peter Clutterbuck;
(c)	Peter Clutterbuck has been appointed as President and CEO upon the resignation of Tom Kennedy from those positions
--->,
(d) 	Yogeshwar Sharma has been appointed as Chairman of the Board; 
(e) 	Nigel Friend has been appointed as Chief Financial Officer upon the resignation of Tyler Friesen; and
(f)	Tom Kennedy has been appointed as Corporate Secretary of the Company upon the resignation of James Harris from tha
--->t position.
Mr. Sharma has over 40 years' of broad international oil and gas industry experience.  He is a co-founder of Hardy Oil
---> and Gas plc, and served as its CEO until May 2012 when he stepped down to take a position as a non-executive director
--->.  Hardy is a London Stock Exchange-listed company with operations in offshore India.  He also serves as a director of
---> Longreach Oil & Gas, a TSXV-listed company with assets in Morocco.  Prior to founding Hardy, Mr. Sharma worked at Elf
---> International in France and at Schlumberger Dowell Research in USA. Mr. Sharma graduated from the University of Alber
--->ta in Mechanical Engineering and did his Post Graduate Studies at the University of Calgary in Chemical Engineering.  
--->He is a Registered Professional Engineer in Alberta, Canada, a full member of the SPE and a member of the Society of A
--->pplied and Industrial Mathematics. 
 
 
 
 Mr. Clutterbuck was most-recently CEO of AIM-listed 3Legs Resources, which operated the first shale gas production in
---> Europe.  Previously, he was CEO of TSXV-listed Orca Exploration, which developed the Songo Songo gas field in Tanzani
--->a, and VP Operations for Gabon-focused Pan Ocean Energy, which was sold for $1.6 billion to Addax Petroleum.  A former
---> Director of AIM-listed Northern Petroleum (CEO), President Petroleum, and Mediterranean Oil and Gas, Mr. Clutterbuck 
--->was responsible for the discovery of the Rubiales Field in Colombia.  He had a 15-year career in management positions 
--->with the BP group in Abu Dhabi, North Sea, and Alaska, and he served on the Board of the SPE in London.  He holds a de
--->gree in Engineering from Cambridge University. 
Mr. Friend is an accountant with an extensive knowledge of the energy sector and in particular the commercialisation o
--->f gas streams.  He is currently a Commercial Financial Director of ASA Energy Conversions Ltd. (a company involved wit
--->h gas to liquid technology).  Previously (2004 - 2012) he was CFO and Executive Vice-President of Orca Exploration Gro
--->up Inc. (a company involved in gas development in Tanzania); and prior to that (2002 - 2004) was a financial and comme
--->rcial consultant for Pan Ocean Energy Corp Inc. (an oil exploration and production company operating in Gabon).  Mr. F
--->riend was a practicing accountant with KPMG for 11 years (1986 - 1997).
FIRST TRANCHE CLOSING OF PRIVATE PLACEMENT
Further to the Company's news releases dated April 30, 2013 and May 15, 2013, the Company has received TSX Venture Exc
--->hange approval to a first tranche closing of its private placement.  The Company has raised $207,500 and issued 4,150,
--->000 subscription receipts ("Receipts") at a price of $0.05 per Receipt.  Each Receipt is convertible, for no additiona
--->l consideration, into one post-consolidated common share upon completion of the Company's proposed share consolidation
--->. 
Finder's fees of $6,000 will be paid in connection with the first tranche closing of the private placement. The Receip
--->ts are subject to a four-month hold period expiring October 29, 2013. 
The proceeds from the private placement will be used for general working capital purposes.
ON BEHALF OF ACADIA RESOURCES CORP.
/s/ "Peter Clutterbuck"
Peter Clutterbuck, President and Chief Executive Officer
Neither the 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.



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