Pounder Venture Capital Corp. announced that the company appointed two new directors, Dr. G. O. Kapo Simonian and Mr. Russ Guyatt, to its Board of Directors. Concurrently with the appointment of Dr. Simonian and Mr. Guyatt, Mr. Keith Stein, a current member of the Corporation's Board of Directors, has resigned from the Corporation.

Pounder Venture Capital Corp. announced that it expects to appoint two new directors, Dr. G. O. Kapo Simonian and Mr. Russ Guyatt, to its Board of Directors. Dr. Kapo Simonian has over 35 years of experience in several areas of the oil industry. Dr. Simonian has been employed as a geologist in the Middle East, in Cyprus, Oman and Iran. In the 1980's, Dr. Simonian established GAPS Geological Consultants Ltd. During his tenure at Scott Pickford plc, Dr. Simonian worked on developing energy projects in Poland and Ukraine. Dr. Simonian served as a main board director of Scott Pickford plc until its sale in early 1997. Dr. Simonian also established Simco Petroleum (Management) Ltd. in 1997, Dr. Simonian has experience supporting and builing up junior oil and gas companies including those who have gone on to be sold to trade buyers, have become listed on stock exchanges, and those that have acquired licenses through application and subsequently farmed out their exploration work commitments. Mr. Russ Guyatt is professional engineer with over 30 years' experience. sale to Addax. In 2006, Mr. Guyatt joined Equator Exploration Limited as VP Engineering responsible for the development of the company's Nigerian assets including an offshore FPSO development. In 2008, Mr. Guyatt became an independent consultant working on a broad range of roles including project management, reserve auditing and new business development both in the United Kingdom and internationally. In connection with the appointments, it is also expected that Mr. Keith Stein, a current director of the corporation, will resign from the board of directors.

TSX Venture Exchange (TSXV) announced that in accordance with TSX Venture Exchange Policy 2.4, Capital Pool Companies, Pounder Venture Capital Corp. has not completed a qualifying transaction within the prescribed time frame. Therefore, effective April 2, 2012, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Toronto to NEX. As of April 2, 2012, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. Further to the TSX Venture bulletin dated December 21, 2011, trading in the shares of the Company will remain suspended.