CALGARY, Alberta, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX: TEI) announces that Mr. Don Copeland, Chairman of Toscana’s Board of Directors (the “Chairman”) is stepping down as Chairman and a member of the Board effective September 30, 2019 (the "Effective Date").

On behalf of the Board, Mr. Joseph Durante, Executive Director, commented: “Mr. Copeland has served on the Toscana Board since inception in 2010. Over this time, he made many contributions to Toscana, drawing on a wealth of experience gained over a long and successful business career. Toscana’s Board and Management would like to thank Don for his insightful leadership and wish Don all the best in the future.”

Following Mr. Copeland’s resignation, Toscana’s Board will consist of Mr. John Festival, Mr. Brian Krausert, Mr. Stan Smith and Mr. Joseph Durante. The Board, at its next scheduled meeting, will appoint a new Chairman.

Forward-Looking Statements:

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.

More particularly and without limitation, this news release contains forward‐looking statements and information concerning the appointment of a new chairman. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Corporation, including expectations and assumptions concerning general business, economic and market conditions and management’s ability to generate grown opportunities. Although management of the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Corporation relating to the future. Readers are cautioned that reliance on such forward-looking statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risk that the Corporation may be adversely impacted by the change in management and general business, economic and market conditions, and the risks associated with the oil and gas industry in general. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.

The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Toronto Stock Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

About Toscana Energy Income Corporation
Toscana Energy Income Corporation is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets.

For further information, please contact:
Ryan Heath, Chief Executive Officer
Tel: (403) 355-0455
Fax: (403) 444-0090
SOURCE: Toscana Energy Income Corporation