Jun. 24, 2011 (Canada NewsWire Group) --
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./
CALGARY, June 24, 2011 /CNW/ - Novus Energy Inc. ("Novus" or the "Company") (TSXV: NVS) is pleased to announce that all of the matters set forth in the Company's information circular dated May 11, 2011 (the "Circular") to be voted upon were approved by the Company's shareholders at the annual general and special meeting (the "Meeting") held Thursday June 16, 2011.
In particular, the Company's amended and restated stock option plan was also approved at the Meeting, a copy of which is attached as a schedule to the Circular, which is available electronically at www.sedar.com.
The Company is also pleased to announce the promotion of Mr. Mitch Huitema, who now adds the title of VP, Accounting to his role as Controller at Novus. Mr. Huitema helped lead the Company through the transition from Canadian Generally Accepted Accounting Principles to International Financial Reporting Standards and will continue to oversee the accounting functions of the Company.
Novus Energy Inc. is a well positioned, junior oil and gas company with a proven management team committed to aggressive, cost-effective growth of high netback light oil reserves and production. Novus will continue to grow through a targeted acquisition and consolidation strategy coupled with development and exploration drilling.
Novus' common shares trade on the TSX Venture Exchange under the symbol NVS. Novus currently has 170.2 million common shares outstanding.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release will not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. Such securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States, or to a U.S. person, absent registration, or an applicable exemption therefrom.
|NOVUS ENERGY INC.|
| Hugh G. Ross |
President and CEO
| Ketan Panchmatia |
Chief Financial Officer
| Julian Din |
VP Business Development