CALGARY, ALBERTA--(Marketwire - Jan. 9, 2013) - Fairborne Energy Ltd. (TSX:FEL) ("Fairborne" or the "Corporation") announces that it has changed its name to Santonia Energy Inc. ("Santonia") effective January 9, 2013. The name change was approved by shareholders of the Corporation at the special meeting of shareholders of the Corporation held on January 8, 2013 (the "Special Meeting").
The Corporation expects that trading of its common shares on the Toronto Stock Exchange under its new name and trading symbol of "STE" will commence within two to three business days from today's date. Santonia's new website address will be www.santoniaenergy.com.
The Corporation is also pleased to announce that Mr. Guy Grierson has agreed to join the Board of Directors of Santonia. Mr Grierson is currently the CEO of B&G Energy Ltd., a private oil and natural gas company based in Calgary. Mr Grierson has had experience in managing several private E&P oil and gas companies. He has served as President of Leland Energy Ltd. (1999-2001), Watford Energy Ltd. (2000-2001), and Markwest Hydrocarbons Inc. (2001-2002) and has been CEO of B&G Energy Ltd. since 2002. Prior experience includes 14 years at Chevron Canada Resources (1982-1996) where he worked as a geologist, with formal cross-training in geophysics, including several roles in management. He spent three years with Kaiser-Francis Oil Co. (1996-1999) in Tulsa Oklahoma, developing projects in Canada and Texas. Mr Grierson currently serves on the Board of Directors of Corex Resources Ltd. Mr Grierson graduated from Brandon University where he earned Bachelor degrees in Geology, Computer Science and Mathematics.
At the Special Meeting, shareholders also approved the issuance of common shares of the Corporation pursuant to the restricted and performance award incentive plan of the Corporation.
Certain information set forth in this press release, contain forward-looking statements including the timing of commencement of trading under new name and trading symbol. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control. Additional information on risks that could affect the Corporation's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The actual results, performance or achievement of the Corporation could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Corporation will derive therefrom. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.