Last C$0.08 CAD
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As of 9:43 AM 04/16/14 All times are local (Market data is delayed by at least 15 minutes).

canadian oil recovery & reme (CVR) Snapshot

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canadian oil recovery & reme (CVR) Details

Canadian Oil Recovery & Remediation Enterprises Ltd., a clean technology company, provides environmental services for the upstream and downstream petroleum sectors, governments, and municipalities in the Middle East and north Africa. It offers sludge treatment, oil contaminated soil remediation, and oil recovery services through its proprietary advance recovery equipment systems. The company also provides storage tank cleaning services, including sludge minimization, de-sludging, tank cleaning, and oil recovery services. In addition, it offers drill cuttings waste treatment services, as well as provides industrial waste management solutions consisting of initial assessment and categorization, collection, and packaging and transportation for recycling, remediation, and disposal. Further, the company provides oil and gas engineering services for oil and water separation facilities; and oil and gas engineering design and project management services. It has a strategic alliance with CANAR Trading and Contracting Company. The company is headquartered in Toronto, Canada.

canadian oil recovery & reme (CVR) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: C$347.6K
Compensation as of Fiscal Year 2012.

canadian oil recovery & reme (CVR) Key Developments

Canadian Oil Recovery & Remediation Enterprises Ltd. Announces Resignation of Two Directors

Canadian Oil Recovery & Remediation Enterprises Ltd. announced the resignation of Dr. Edward Gress and Mr. Alex Gress as Directors of the company.

Canadian Oil Recovery & Remediation Enterprises Ltd., Annual General Meeting, Oct 25, 2013

Canadian Oil Recovery & Remediation Enterprises Ltd., Annual General Meeting, Oct 25, 2013., at 16:00 US Eastern Standard Time. Location: 141 Adelaide Street West, Suite 110. Agenda: To receive the audited financial statements of CORRE as at and for the years ended December 31, 2012 and 2011; to fix the number of directors to be elected at the Meeting at eight (8); to elect the directors of the Corporation for the ensuing year; to appoint BDO Canada LLP, Chartered Accountants as the auditors of the Corporation and to authorize the directors to fix the auditors' remuneration; to consider the ratifying, adopting and approving the Stock Option Plan of the Corporation in the form set out in Schedule 'A' to the Management Proxy Circular; and to transact such further or other business as may properly come before the Meeting or any adjournment(s) thereof.

Canadian Oil Recovery & Remediation Enterprises Ltd. Enters into Loan Agreements to Partially Fund SAR-CORRE MENA 2013 Operating Budget; Alex Gress Steps Down as Senior Vice President and CFO

Canadian Oil Recovery and Remediation Enterprises Ltd. (CORRE) announced that the company has entered into formal loan agreements in connection with the previously announced funding of the SAR-CORRE MENA (SCM) partnership's $2.5 million operating budget for 2013. With a 45% interest in SCM, CORRE's proportional contribution to SCM for the 2013 operating budget is $1,125,000, which is being advanced to SCM by way of shareholder's loan. The two loan agreements entered into by CORRE are with Ahmed Al-Hamdan (in respect of the advance of $562,500) and with Hassan Dahlawi, a director and Insider of CORRE (in respect of the advance of $100,000). The foregoing transactions are subject to the review and approval of the Board of Directors and the TSX Venture Exchange. The loan contributed by Mr. Al-Hamdan will partially fund CORRE's shareholder loan to SCM. The Al- Hamdan loan is unsecured and bears no interest and is repayable upon the earlier of: five years from the date of the Agreement; and the repayment by SCM of the shareholder's loan to CORRE. As further consideration for the foregoing loan, CORRE has agreed to transfer 5% of its 45% interest in SCM to Mr. Al-Hamdan. Funds to be advanced under this loan are deliverable in stages, from now through December 31. The loan agreement with Mr. Dahlawi represents his proportionate contribution to the SCM operating budget in his capacity as an owner of 40% of the corporate entity that owns 10% of SCM. This obligation of Mr. Dahlawi is being funded through CORRE primarily for administrative ease. The loan through CORRE is also unsecured, and bears no interest and is repayable upon the earlier of: two and one half years from the date of the Agreement; and the repayment by SCM of all shareholders' loans to shareholders of SCM. CORRE announced that Mr. Alex Gress is stepping down as Senior Vice President and CFO. Mr. Gress will continue with the company as a Director. Mrs. Ying Chen Young is replacing Mr. Alex Gress in the interim as CFO with a mandate to organize the accounting department of SCM in Dubai.


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