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SERVICES OR DISSEMINATION IN THE U.S./
CALGARY,
AB, Sept. 1, 2022 /CNW/ - September 1, 2022 - Source Rock Royalties Ltd.
("Source Rock") (TSXV: SRR) (TSXV: SRR.WT), a pure-play oil and gas
royalty company with an established portfolio of light oil focused
royalties in Saskatchewan and
Alberta, announces that effective
September 1, 2022, Ms. Cheryne Lowe has been appointed as Source Rock's
Chief Financial Officer ("CFO"). Ms. Lowe replaces Mr. Sean Clausen, who was Source Rock's CFO since
2013. Source Rock is very grateful for Mr. Clausen's lengthy tenure
with the company and wishes him all the best. Mr. Clausen may
continue to periodically provide accounting consulting services to
Source Rock.
Ms. Lowe is a seasoned financial professional with extensive
experience working for companies listed on the Toronto Stock
Exchange and the TSX Venture Exchange, as well as a background in
the upstream oil and gas industry and the Canadian capital markets.
Ms. Lowe was most recently Interim CFO at AgJunction Inc. (TSX:
AJX), an agriculture technology company, which was acquired in late
2021. Prior thereto, Ms. Lowe was CFO and Corporate Secretary at
Pine Cliff Energy Ltd. (TSX: PNE), and Vice President Finance and
CFO at Orlen Upstream Canada Ltd. and its predecessor TriOil
Resources Ltd. Ms. Lowe began her career with KPMG and was also an
Institutional Research Associate with Tristone Capital Inc.
Source Rock has granted Ms. Lowe 200,000 stock options, which
shall have an exercise price of $0.90
for a term of 5 years.
About Source Rock Royalties
Ltd.
Source Rock is a pure-play oil and gas royalty company with an
existing, light oil focused portfolio of royalty interests
concentrated in southeast Saskatchewan, east-central Alberta, west-central Alberta and west-central Saskatchewan. Source Rock targets a balanced
growth and yield business model, using funds from operations to
pursue accretive royalty acquisitions and to pay dividends. By
leveraging its niche industry relationships, Source Rock identifies
and acquires both existing royalty interests and newly created
royalties through collaboration with industry partners. Source
Rock's strategy is premised on maintaining a low-cost corporate
structure and achieving a sustainable and scalable business,
measured by growing funds from operations per share and maintaining
a strong netback on its royalty production.
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 of
this release.
SOURCE Source Rock Royalties Ltd.