NG Energy Announces Appointment of New Directors

VANCOUVER, BC, July 15, 2021 /CNW/ - NG Energy International Corp. ("NGE" or the "Company") (TSXV: GASX) (OTCQX: GASXF) is pleased to announce the appointment of D. Jeffrey Harder and Humberto Calderon Berti as directors of the Company.

D. Jeffrey Harder was previously a partner with Deloitte LLP before his retirement from the firm. He has more than 40 years experience in performing financial advisory services, including: business, asset and securities valuations, mergers and acquisitions, business modelling and strategic analysis. His professional assignments focused on the natural resources sectors including upstream and downstream assets and related infrastructure assets. During his professional services career Mr. Harder held several strategic governance and operational positions, including: Office Managing Partner, Canada business leader, Americas business leader, Global executive committee member and Board of Directors member. Mr. Harder's Deloitte Americas business leadership roles focused on the major economic countries in Latin America, including: Mexico, Panama, Colombia, Ecuador, Peru, Chile, Argentina, Brazil and Uruguay.    

He is a Fellow of the Chartered Professional Accountants of British Columbia and the Yukon, a Fellow of the Canadian Institute of Chartered Business Valuators and he holds the ICD.D designation from the Institute of Corporate Directors.

Mr. Calderon Berti is a Venezuelan geologist, petroleum engineer, former president of PDVSA (Venezuela's state-owned petroleum company), and the country's former Minister of Energy and Mines, as well as former Minister he is also a former OPEC president. His undergraduate degree was from the Central University of Venezuela, and he has a Master's in petroleum engineering from the University of Tulsa in Tulsa, Oklahoma.  In 2003, he and other former PDVSA petroleum executives founded the Colombian company, Vetra Energia, S.L.

The Company also announces the resignation of Frank Giustra from the board of directors. The Company thanks Mr. Giustra for his valuable contribution and his dedication to NGE's growth.

The Company also announces that it has has granted an aggregate of 2,250,000 stock options under the Company's stock option plan to directors, officers, employees, consultants of the Company and charities with an exercise price of C$0.91 per stock option, exercisable for a period of ten years from the date of grant.  The Company has also re-priced 125,000 charity stock options to C$0.91.

About NG Energy International Corp.

NG Energy International Corp. is a publicly traded E&P company on a mission to provide a clean and sustainable solution to Colombia's energy needs. The Company intends on executing this mission by producing and bringing gas to the premium priced Colombian gas market from its concessions, SN-9, a 311,353 acres block which is adjacent to Canacol's Nelson field, as well Maria Conchita, a 32,518 acre block located in the region of La Guajira. NGE's team has extensive  technical expertise and a proven track record of building companies and creating value in South America. For more information, please visit SEDAR (www.sedar.com) and the Company's website (www.ngenergyintl.com).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE NG Energy International Corp.