HALIFAX, NOVA SCOTIA–(Marketwired – Aug. 1, 2014) – Corridor Resources Inc. (“Corridor”) (TSX:CDH) announced today that Mr. Phil Knoll intends to step down as President and CEO for personal reasons. A process to hire a successor to Mr. Knoll is underway and the executive search firm of Boyden Global Executive Search has been retained to assist with the process. It is anticipated that an announcement in respect of the new President and CEO will be made during the third quarter. Mr. Knoll will continue as a member of Corridor’s Board of Directors.
The Board of Directors wishes to thank Mr. Knoll for his significant contributions since joining Corridor as President and CEO in 2010. “Phil’s leadership, drive and dedication have Corridor financially strong and well positioned to further advance the exploration and development of our resource plays in the coming years” said Corridor’s Chairman, Doug Foster. “I am proud of Corridor’s accomplishments during my tenure and I remain committed to see our New Brunswick Frederick Brook shale and our Anticosti partnership move toward commercial phases, as well as exploration at our Old Harry offshore prospect” said Mr. Knoll.
Corridor is an Eastern Canadian junior resource company engaged in the exploration for and development and production of petroleum and natural gas onshore in New Brunswick and Québec and offshore in the Gulf of St. Lawrence. Corridor currently has natural gas production and reserves in the McCully Field near Sussex, New Brunswick and crude oil reserves in the Caledonia Field near Sussex, New Brunswick. In addition, Corridor has contingent resources and discovered resources in Elgin, New Brunswick and undiscovered resources on Anticosti Island, Québec where Corridor has ongoing exploration projects.