Articles Tagged "TSXV:TCF"

CBM Asia Cuts Costs and Announces Non-Brokered Private Placement of C$11 Million

Gas – Following the announcement regarding development plans of the Kutai West PSC last week, CBM Asia Development Corp. (TSXV:TCF,OTCBB:CBMDF,FWB:IY2) announced a non-brokered private placement of C$11,000,000 secured loans with bonus shares. CBM Asia is also taking steps to reduce general and administrative expenses, reducing staff levels and office sizes for both Vancouver and Jakarta.

CBM Asia Announces Annual and Special General Meeting Results

Gas – CBM Asia Development Corp. (TSX:TCF, US:CBMDF, FRANKFURT:IY2) announced that at the annual and special meeting of shareholders held on Friday, March 28th, 2014, shareholders approved: The appointment of Charles W. Bloomquist, Adam Q.H. Clarke, James F. Friberg, Clint B. Sharples and Scott H. Stevens as directors. The appointment of BDO Canada LLP, Chartered Accountants, as auditor. The ratification and approval of the Stock Option Plan.

CBM Asia Announces Management Changes

Gas – CBM Asia Development Corp. (TSXV:TCF,US:CBMDF,FWB:IY2) announced that Alan T. Charuk has resigned as the President, Chief Executive Officer and Director of the Company. Charles W. Bloomquist, formerly VP of Poerations as well as a co-founder and director of the Company has been elected as the new President and Chief Executive Officer by the Board of Directors.

CBM Asia Development Corp. Provides Corporate Update

Gas – CBM Asia Development Corp. (TSXV:TCF,US:CBMDF,FWB:IY2) provided a review of its operations in Indonesia, as well as an update on its current financing activities. To date, the Company has successfully drilled and tested a total of eight coalbed methane exploration wells at two Production Sharing Contract (PSC) areas in Indonesia. The Company has also been offered financing facilities of US$25 million and EUR60 million by two private institutions.