CABO
ENGAGES INVESTOR RELATIONS SERVICE PROVIDERS IN EUROPE AND IMPLEMENTS NAME
CHANGES
North Vancouver, BC,
July 6, 2007 – Cabo Drilling Corp. (TSX-V: CBE) (“Cabo”
or the “Company”) announces that it has entered into Investor
Relations Agreements with Michael Forster and The Fabrice de la
Ferrière & Henri Deegenaar Partnership, subject to regulatory
approval, to provide the Company with retail and institutional investor
relations service in Europe. The objective of this undertaking is to
increase international awareness of the Company and facilitate Company
exposure to current European shareholders and potential investors through
the dissemination of corporate information to a strategic network of
institutions, retail brokerage firms and private investors in Europe.
Mr. Forster is based in
Zurich, Switzerland and has worked in the financial sector for more than
ten years, during which time he has built a significant network of retail
clients and financial institutions in Europe. Previously, Mr. Forster
managed Asset Management Switzerland AG, the largest independent financial
services company in Europe. He has taught courses in finance to financial
advisors and currently operates his own asset management company in
Switzerland with over 700 clients. Mr. Forster holds an executive
international MBA from ZFU Switzerland and Babson College, USA. The
initial term of the Investor Relation Agreement with Mr. Forster is for a
period of six months and is renewable on a quarter-to-quarter basis at the
option of the Company. Compensation will be $2,400 per quarter and Mr.
Forster will be granted a two-year incentive stock option to acquire 50,000
Cabo shares. The option will be exercisable 16,667 at $0.65 per share;
16,667 shares at $0.75 per share; and, 16,666 shares at $0.85 per
share.
Mr. de la
Ferrière is based in Paris, France and is experienced with the
introduction of small and medium size companies, in the mining sector, to
knowledgeable institutional investors in Western Europe. Previously, Mr.
de la Ferrière worked in the banking sector as an analyst and a
trader at Caisse Centrale des Banques Populaires.
Mr. Deegenaar, also
based in Paris, France, has participated in the institutional investments
sector for 45 years. He was Director of Economic Research responsible for
financial investments with a large French asset management and insurance
company controlled by the AXA Group. Mr. Deegenaar is the founder and head
of a capital development and consulting company and introduces small-cap
Canadian, American and Australian companies to the European investment
community.
The initial term of the
Investor Relations Agreement between the Company and The Fabrice de la
Ferrière & Henri Deegenaar Partnership is for a period of six
months and is renewable on a quarter-to-quarter basis, at the option of the
Company. Compensation will be €3,000 per quarter and the Partnership
will be granted two year incentive stock options to acquire 50,000 Cabo
shares. The options will be exercisable 16,667 at $0.65 per share; 16,667
shares at $0.75 per share; and, 16,666 shares at $0.85 per share.
“We are pleased to
have the services of Michael Forster, Fabrice de la Ferrière and
Henri Deegenaar to assist us with strengthening Cabo’s profile in the
European economic community. Mr. Forster, Mr. de la Ferrière and
Mr. Deegenaar were selected because their integrity, standards and
methodologies fit best with the message we wish to communicate to the
investing public,” stated John Versfelt, President and CEO of Cabo
Drilling Corp.
Name Changes
Additionally, the Company
announces it has changed the legal names of its divisions in order to
clearly communicate the Cabo Drilling Corp. brand and build Cabo name
recognition as driller-of-choice in the mineral exploration and mining
sectors.
Since 2004, Cabo
Drilling Corp. has grown to become one of the larger Canadian mineral
drilling service providers. Effective July 1, 2007, the Company’s
divisions will operate under the following names: Cabo Drilling (Pacific)
Corp. (formerly Advanced Drilling Ltd.); Cabo Drilling (Ontario) Corp.
(formerly Heath & Sherwood Drilling Inc.); and Cabo Drilling (Atlantic)
Corp. (formerly Petro Drilling Company Limited) allowing each to take on
the brand of the parent company, Cabo Drilling Corp. Forages Cabo Inc.
will retain its present name as it already reflects the Cabo brand.
“Our growing
drilling services company will continue to find ways to expand its ability
to service growing mineral exploration and mining demands around the
world,” stated Mr. Versfelt. “It has been important in the
past to maintain the names of our acquisitions so that we were able to
continue to leverage the name recognition and good will, the founders and
operators had built in the exploration and mining sector. However, now,
after approximately three years of operation, we believe we have
effectively transferred this recognition to the Cabo brand.”
Cabo Drilling Corp. is a
drilling services company headquartered in North Vancouver, British
Columbia, Canada. The Company provides mining related and specialty
drilling services through its Canadian divisions in Surrey, British
Columbia; Montréal, Quebec; Kirkland Lake, Ontario; and Springdale,
Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of
Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama,
Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The
Company’s common shares trade on the TSX Venture Exchange under the
symbol: CBE.
ON
BEHALF OF THE BOARD
“John A. Versfelt”
John
A. Versfelt Chairman,
President and CEO
Further
information about the
Company can be found on
the Cabo website (http://www.cabo.ca)
and SEDAR (www.sedar.com)
or by contacting Ms. Sheri
Barton, Investor Relations
at 403-217-5830 or Mr. John A.
Versfelt, Chairman, President & CEO
of the Company at
604-984-8894.
* * * *
The
TSX Venture Exchange does
not accept responsibility for the adequacy or
accuracy of this release. This news
release may contain forward-looking
statements including but not limited to comments
regarding the timing and content of
upcoming work programs, geological
interpretations, potential mineral recovery
processes and other business transactions
timing. Forward-looking statements
address future events and conditions and
therefore, involve inherent risks and
uncertainties. Actual results may
differ materially from those currently
anticipated in such statements.
------------------------------
CONTACT:
John
A. Versfelt, Chairman,
President
and CEO web
site: www.cabo.ca
Telephone: (604)
984-8894 Facsimile: (604) 983-8056 e-mail: ir@cabo.ca
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