WesCan Energy Corp. press release
TSX Venture Exchange forces resignation of Conrad Black from Blackpool's Board of Directors
TSXV - TSX Venture Exchange · Oil · Natural Gas · Natural Gas Liquids · Canada
CALGARY, July 6 /CNW/ - In a letter dated July 5, 2005, the TSX Venture Exchange has advised Blackpool Exploration Ltd. (BPX.A - TSX Venture Exchange) that Conrad (Lord) Black is required to resign as a director of the Corporation. Blackpool management and directors do not agree with the requirement for Mr. Black to resign. Certain regulatory issues relevant to Mr. Black have been raised by regulators in jurisdictions outside the jurisdiction in which Blackpool is incorporated and conducts its' business. These issues are unproven allegations and complaints which Mr. Black has declared to be without merit and is strenuously contesting. Mr. Black has not been charged with, or convicted of, any offense. A presumption of guilt has replaced the presumption of innocence that is the basis of our legal system. To spare the Company and its' directors the inconvenience of a lengthy legal dispute with the TSX, Mr. Black has voluntarily retired as a director of Blackpool Exploration Ltd. Mr. Black will continue as a Special Advisor to Blackpool management and directors. The details of Mr. Black's subscription for a private placement of Blackpool shares as outlined in the Corporation's press release dated June 30, 2005 have not changed. The Corporation reiterates its' opinion that any and all regulatory issues will be resolved in Mr. Black's favour in due course and at that time, he will be appointed or re-elected to Blackpool's Board of Directors subject to regulatory approval. In the meantime, Blackpool is considering an appeal of the decision of the TSX Venture Exchange to the Alberta Securities Commission.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.