TORONTO, Nov. 13, 2018 (GLOBE NEWSWIRE) — Magnolia Colombia Limited (“Magnolia” or the “Company”) (TSXV: MCO) is pleased to welcome Chris Eben to its board of directors effective immediately.   

Mr. Eben is a Managing Partner at TWG, a product consultancy with deep expertise in digital strategy, product design and engineering. He is a board member, speaker and active investor with a portfolio of more than 25 startups throughout the US and Canada.

Mr. Eben joined TWG after a lengthy career running product teams in the Enterprise Software Market, focused on Business Intelligence, Analytics and Performance Management. He has worked for startups and with large organizations and has helped to build teams in Silicon Valley, London, England and his hometown of Toronto. At TWG, he leads a growing team of 140 product managers, user researchers, designers and engineers that work with innovators from funded startups to large enterprises building software used by millions. Mr. Eben holds an MBA from Northwestern’s Kellogg School of Management.

The appointment of Mr. Eben follows the resignation of Algimantas Didsjuliz as a director of the Company.

The management and board of Magnolia would like to thank Mr. Didsjuliz for his service and the contributions he has made to the Company and wish him well in the future.

About Magnolia Colombia Limited:

Magnolia Colombia Limited is a Canadian independent oil exploration company.

For further information, please contact:

James Lanthier, President & CEO
Email: [email protected]

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward looking information” within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the appointment and resignation of directors of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; competition; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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