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Road Town, Tortola, British Virgin Islands (November 21, 2008) – CIC Energy Corp. (“CIC Energy” or the “Company”) (TSX:ELC, BSE: CIC Energy) is pleased to announce the appointment of Ms. Alexandrea E. Gatis Davis as Chief Financial Officer. Ms. Davis’ appointment is effective December 1, 2008, and she will be based in CIC Energy’s head office in Nassau, Bahamas.
Ms. Davis is a Certified Public Accountant (CPA) and joins the Company from Ernest & Young (Bahamas), where she held the role of Senior Auditor.
Mr. Craig McLeary, Chief Financial Officer, has tendered his resignation effective November 30, 2008 and plans to return to South Africa.
About CIC Energy Corp.
CIC Energy is a TSX/BSE-listed company engaged in the advancement of the Mmamabula Energy Complex at its Mmamabula Coal Field in Botswana, Africa. This planned Complex consists of the Mmamabula Energy Project, the Coal-to-Hydrocarbons Project and the Export Coal Project. The Mmamabula Energy Project is a planned 1200 megawatt power station and integrated coal mine project. The Company’s plans include the potential for future expansion. The Coal-to-Hydrocarbons Project is intended to produce syngas from coal which can be converted to a variety of downstream products, including fuels and petrochemicals. The planned Export Coal Project is actively investigating ways to export A grade thermal coal from the Mmamabula Coal Field.
CIC Energy has a treasury of approximately C$87 million and has 52.8 million shares outstanding. For additional information on CIC Energy and the Mmamabula Energy project, please visit CIC Energy’s website at www.cicenergy.com or contact:
Erica Belling
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 ext.243 Email: ebelling@taucapital.com
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