PentaNova Energy Announces Plans for Name Change

PentaNova Energy Corp. (TSXV:PNO), has announced that the board of directors of the company has approved a company name change to “CruzSur Energy Corp”. As a result, there will be a consolidation of its issued and outstanding share capital on the basis of one new common share for ten outstanding common shares, subject to TSXV approval.

PentaNova Energy is an exploration and production focused on proven oil and gas plays in Latin America. The company presently holds a large diversified portfolio of producing, development and unexploited assets in Colombia and Argentina.

As quoted from the press release:

The company also announced a reorganization of it’s Board of Directors with the resignations of Mr. Serafino Iacono, Mr. Francisco Sole, Mr. Hernan Martinez and Mr. Jaime Perez Branger, who all joined the board of directors in 2017. Following their departure, the company’s board of directors comprises of Frank Giustra, Gordon Keep, Ralph Gillcristand Jeffrey Scott.

“We are carrying out actions that places the company on a new path and the corporate name change is part of our new identity moving forward. Our strategy is to refocus the company’s asset portfolio, concentrating on assets which will fund core exploration. We have now implemented industry standards and processes which will improve execution efficiency and the ultimate goal is to build a profitable self-sustaining energy company,” said Ralph Gillcrist.

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