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Cardium-Focused Briko Explores Strategic Alternatives as CEO Steps Down

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   |    Friday,January 08,2021

Briko Energy Corp. reported management changes and initiation of a strategic alternatives process.

CEO Steps Down, Exec Appointment

John H. Van de Pol, President & CEO, has advised Briko’s Board of Directors and executive team of his intention to step down as President & CEO effective March 15, 2021 but will continue to remain as a member of the Board.

The Board is also pleased to announce the appointment of Louise Lee, partner at Borden Ladner Gervais LLP, who is replacing William C. Guinan as Corporate Secretary. Lee has over 15 years experience as a corporate lawyer and is a welcome addition to the Briko team.

Strategic Alternatives

Briko’s Board is undertaking a formal process to evaluate strategic alternatives available to the Corporation to maximize shareholder value. The strategic alternatives process is intended to explore a comprehensive range of strategic alternatives which may include, but are not limited to, a corporate sale, merger or other business combination, a disposition of all or a portion of the Corporation’s assets, a recapitalization and other alternatives to maximize value. The Board plans to engage a strategic advisor to support the evaluation of all potential alternatives.

The Corporation will provide additional information regarding the strategic alternatives process as the process progresses.

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