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Canadian Spirit Resources Inc. Announces Corporate Update
Published : December 05, 2012
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Keywords :   Canadian Spirit | Natural Gas | Total |

CALGARY, ALBERTA--(Marketwire - Dec. 5, 2012) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (News - Market indicators) (OTCBB:CSPUF) announces the approval of a grant of stock options, and as part of an overall corporate strategy, a planned reduction in the size of its Board of Directors.

The Corporation's Board of Directors has approved a grant of 1,605,000 options to directors, officers and employees to acquire shares of the Corporation in accordance with the terms and conditions of the Corporation's Stock Option Plan. Certain options issued to a senior officer are subject to shareholder approval which is expected to be sought at the Corporation's annual meeting planned for May 2013. All the options have a term of five years and may be exercised at a price of C$0.25 per share. Subject to acceptance by the TSX Venture Exchange, this grant of options will result in a total of 5,372,500 options outstanding, representing 5.9 percent of the total common shares outstanding.

Effective November 30, 2012, the Board of Directors accepted the resignations of Mr. George Watson, Mr. Philip Grubbe and Ms. Susannah Tam as directors. The Corporation recognizes their long-term commitment and advice during the early stage development of its Farrell Creek property. Messrs. Richard Couillard, Donald Gardner and Joseph Iannicelli will continue to serve as directors with Mr. Iannicelli being appointed Chairman of the Board. Mr. Phillip Geiger also tendered his resignation as director but will remain in the position of President & Chief Operating Officer.

CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry.

Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation's website at www.csri.ca.

On behalf of the Board of Directors

CANADIAN SPIRIT RESOURCES INC.

Alfred Sorensen, Chief Executive Officer & Secretary

The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast.

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 NEWS RELEASE

Canadian Spirit Resources Inc.
Alfred Sorensen
(403) 539-5005
(403) 262-4177 (FAX)
alfred.sorensen@csri.ca
or
Canadian Spirit Resources Inc.
Phil Geiger
(403) 539-5005
(403) 262-4177 (FAX)
phil.geiger@csri.ca
www.csri.ca
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Canadian Spirit Resources Inc.

CODE : SPI.V
ISIN : CA1366371054
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Corporate Presentations of Canadian Spirit Resources Inc.
9/3/2009Corporate presentation september 2009
Financings of Canadian Spirit Resources Inc.
8/10/2010Announces Exercise of Warrants and Montney Drilling Update
Financials of Canadian Spirit Resources Inc.
8/19/2013Announces Second Quarter 2013 Financial Results
5/29/2013Announces First Quarter 2013 Financial Results
4/29/2013Announces 2012 Financial Results and Filing of Annual Disclo...
11/28/2012Announces Third Quarter 2012 Financial Results
6/29/2011Announces First Quarter 2011 Financial Results
4/28/2011Announces 2010 Financial Results and Filing of Annual Disclo...
4/29/2010Announces 2009 Financial Results and Filing of Annual Disclo...
5/28/2009First quarter 2009 financial results
4/30/20092008 Financial results and filing annual disclosure document...
Project news of Canadian Spirit Resources Inc.
5/16/2011Announces Initial Proved Plus Probable Reserves- Montney For...
7/22/2010(Farrell Creek)Announces Successful Horizontal Well Test in the Lower Montn...
6/11/2009(Farrell Creek)First gas sales from its gheting pilot project at farrell cr...
3/30/2009(Farrell Creek)Increases Land Position
Corporate news of Canadian Spirit Resources Inc.
12/5/2012Announces Corporate Update
10/19/2012Announces Operational Update
6/22/2011Resumes Montney Completion Program
6/17/2011Announces Election of New Director
4/18/2011Announces Intention to Make a Normal Course Issuer Bid
4/7/2011Announces Resource Assessment- Montney Formation
2/18/2011Announces Grant of Stock Options
12/10/2010Announces Positive Test Results From Lower Montney
8/12/2009Website "new look"
6/17/2009Corporate Profile
5/5/2009E-Update for may 2009
4/3/2009Insider Share Purchases
3/12/2009NEWS RELEASE DATED MARCH 12, 2009 - CSRI ANNOUNCES EXTENSION...
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TSX-V (SPI.V)OTHER OTC (CSPUF)
0.550+12.24%0.510+10.87%
TSX-V
CA$ 0.550
04/22 15:59 0.060
12.24%
Prev close Open
0.490 0.540
Low High
0.540 0.600
Year l/h YTD var.
0.250 -  0.550 111.54%
52 week l/h 52 week var.
0.180 -  0.550 111.54%
Volume 1 month var.
67,000 27.91%
24hGold TrendPower© : 35
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DateVariationHighLow
2014120.00%0.500.24
201313.64%0.350.15
2012-60.00%0.650.16
2011-70.27%1.900.55
201023.33%2.341.01
 
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