Blacksteel Energy Inc. ("Blacksteel" or the "Corporation") announces that, further to its news release of August 25, 2023, a Cease Trade Order (the "CTO") has been issued by the Alberta Securities Commission. The CTO was issued as a result of a delay in the filing of the Corporation's audited annual financial statements, accompanying management discussion and analysis, and certifications for the financial year ended April 30, 2023, and the corresponding interim financial statements, management discussion and analysis, and certifications for the period ended July 31, 2023 (collectively, the "Filings").
Revocation of the CTO is expected to occur within a few days after the Filings are made.
Blacksteel is pleased to announce that Arthur Madden, CPA, CMA, ICD,D has been appointed as the new Chief Financial Officer of Blacksteel Energy Inc.
Mr. Madden brings over 40 years of experience as a Director, Advisor and Chief Financial Officer with international capital markets experience for both private and public entities in Canada, Argentina, Russia, USA and the Middle East. Mr. Madden has proven abilities in strategic planning, capital markets, environmental and social governance, capital procurement, value creation, and corporate governance for public and private companies, including start-ups and initial public offerings. He is a previous director of Painted Pony Energy (PONY.TSX) from inception to its status as a rapidly growing producer in Canada's Montney hydrocarbon play. Mr. Madden plans to leverage this valuable experience in growing complex organizations from start up, to initial public offerings and final strategic divestiture. His involvement includes growing companies for $1MM in value to in excess of $400 MM.
Mr. Madden replaces Jeff Callaway as Chief Financial Officer, who has departed from the Corporation. Blacksteel acknowledges Mr. Callaway's time with Blacksteel and wishes him well in his future endeavours.
