PLANO, TX -- (Marketwired) -- 06/16/16 -- Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that its Board of Directors nominated and appointed Alex Zyngier to the Board as an independent director. The appointment was effective June 13th, 2016. A Form 8-K was previously filed with the details.
Mr. Zyngier founded Batuta Advisors in 2013 to pursue high return investment opportunities in the distressed and turnaround sectors. Mr. Zyngier has over 20 years of investment, strategy, and operating experience. He is currently a director of Atari SA, AudioEye Inc. and GT Advanced Technologies, Inc. Mr. Zyngier has worked as a Portfolio Manager, investing in public and private opportunities, at Alden Global Capital, Goldman Sachs & Co. and Deutsche Bank Co. He was also a strategy consultant at McKinsey & Company and a technical brand manager at Procter & Gamble. Mr. Zyngier holds an MBA in Finance and Accounting from the University of Chicago and a BS in Chemical Engineering from UNICAMP in Brazil.
"I am excited to join the Torchlight Board," stated Mr. Zyngier. "I am looking forward to helping the Company streamline and focus on its existing attractive oil and gas exploration properties. In addition, given the large dislocation in the oil patch, we hope to position the Company to take advantage of future opportunities in the market."
"We are pleased to be able to appoint Alex to the Board of Torchlight where his considerable skills will be of great value as we focus on capitalizing on our current portfolio of assets," stated John Brda, CEO of Torchlight. "Alex will also be able to help focus the Company on leveraging its existing properties and evaluating new opportunities to maximize our returns while mitigating risks," added Mr. Brda.
David Moradi, founder of Anthion Management LLC, a significant shareholder of the Company stated, "We are pleased that Alex has been nominated and appointed to the Board. His skill set will be highly beneficial to Torchlight management going forward."
About Torchlight Energy
Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company currently holds interests in Texas and Kansas where their targets are established plays such as the Austin Chalk, Eagle Ford, Morrow, Wolfcamp A&B, and WolfPenn formations. For additional information on the Company, please visit www.torchlightenergy.com.
Forward Looking Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Source: Torchlight Energy Resources, Inc.