World News: 12:01 GMT Wednesday 11th September 2019. [Athabasca Minerals via Globe Newswire via SPi World News]
EDMONTON, Alberta, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Athabasca Minerals Inc. (“AMI” or the “Corporation”) (TSX Venture: ABM) is pleased to announce the appointment of Mr. Terrance Kutryk, MBA, ICD.D to the Corporation’s Board of Directors, effective September 5, 2019, and subject to TSX Venture Exchange final approval.
Mr. Kutryk brings a track record of executive leadership in industry covering energy, midstream, transportation & logistics, and marketing sectors, that includes career experience with project joint-ventures and project governance. These skillsets support the needs of AMI’s Board, in relation to the Corporation’s portfolio and growth trajectories of Athabasca’s base aggregates division, AMI Silica Inc.’s in-basin projects, and Aggregates Marketing Inc.’s technology-enabled ‘midstream’ business model.
Terrance Kutryk was formerly President and Chief Executive Officer of Alliance Pipeline Ltd. Prior to that Mr. Kutryk had an extensive career at Husky Energy Inc. culminating as Sr. Vice President, Midstream & Refined Products where his responsibilities included global commodity marketing, trading, product distribution, logistics & storage, pipelines, cogeneration, retail/wholesale operations, and new ventures. He was also a governance committee member of Husky’s multi-billion dollar joint-venture Sunrise Energy Project.
Mr. Kutryk has also held the position of Chairman of the Board for Sultran Ltd., Pacific Coast Terminals Company Ltd. and the Canadian Energy Pipeline Association (CEPA).
In addition to Athabasca Minerals, Mr. Kutryk sits on the boards of the Alberta Petroleum Marketing Commission, Unit Electrical Engineering and VantEdge O&G, advisory boards for Crux OCM, WaterSMART Solutions, the University of Calgary’s Haskayne Centre for Advanced Supply Chain Management and Logistics, and the Schulich School of Engineering industry advisory council.
Mr. Kutryk is a member of the American Society of Mechanical Engineers, Petroleum Society of Canada, CFA Institute and the Calgary Society of Financial Analysts.
Mr. Kutryk holds Master of Business Administration and Bachelor of Commerce degrees from the University of Calgary, is a graduate of the Petroleum Land Management program at Mount Royal University, and graduated with an ICD.D designation from the Institute of Corporate Directors. He is a Chartered Financial Analyst and holds designations from the Investment Dealers Association of Canada.
Robert Beekhuizen, Chief Executive Officer of Athabasca Minerals, says, "Terrance Kutryk is a highly skilled career executive; a strategic thinker with outstanding qualifications, who possesses excellent credentials that will serve our Board and shareholders well. We are reinforced by his interest and belief in AMI’s corporate strategies and growth plans, and his desire to join AMI’s Board. As management makes steady progress in repositioning the company for a robust future, we continue to be guided and governed by a very capable, high-integrity Board of Directors, that is further strengthened with the addition of Mr. Kutryk."
Consistent with the resolution passed at the Corporation’s June 24, 2019 Annual General Shareholders Meeting, all existing Board members have fulfilled their investment obligations in terms of holding the minimum threshold of ABM shares.
The Corporation is an integrated group of aggregates companies involved in resource development, aggregates marketing and midstream supply-logistics solutions. Business activities include aggregate production, pit management services, sales from corporate-owned and third-party pits, acquisitions of sand and gravel operations, and new venture development. Athabasca Minerals is the parent company of Aggregates Marketing Inc. – a midstream technology-based business providing integrated supply and transportation solutions for industrial and construction markets. It is also the parent company of AMI Silica Inc. – a subsidiary positioning to become a leading supplier of premium domestic in-basin sand with regional deposits in Alberta and NE British Columbia. It is the joint venture owner of the Montney In-Basin and Duvernay Basin Frac Sand Projects. Additionally, the Corporation has industrial mineral leases, such as those supporting the Richardson Quarry Project, that are strategically positioned for future development in industrial regions of high potential aggregates demand.
Dean StuartT: 403 617 7609E:
Robert BeekhuizenT: 587 525 9610
Globe Newswire: 12:01 GMT Wednesday 11th September 2019
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