Another company expanding its board is Sean Campbell's Blackbird Energy Inc. (BBI) which lost 1.5 cents to 32.5 cents on 3.32 million shares, after announcing $35.5-million of "transformative" financings and appointing Kevin Andrus as a director. The company will issue 14.7 million shares and 105 million special warrants. It currently has 201 million shares outstanding. The money will go toward the Alberta Montney, where Blackbird expanded earlier this month by buying 85 sections, bringing its sections to 117. Its goal is to become "the next junior Montney producer." Incoming director Mr. Andrus does not have experience in the Montney, as his only other public-company position is on the board of DeeThree Exploration Ltd. (DTX: $9.08) elsewhere in Alberta, but he may be a great help in another way. He is the portfolio manager of energy investments with GMT Capital. GMT filed an initial early warning report for DeeThree in mid-June, 2013, noting ownership of 10.23 per cent of DeeThree's shares. A few weeks later, on July 3, who should join the board but Mr. Andrus. GMT does not own shares of Blackbird, but the board appointment suggests that this will change.
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