Xemplar Energy Corp. announced that it has agreed to a reconstitution of its board of directors as part of an agreement with Fursa Master Global Event Driven Fund LP. The reconstitution of the board took place on December 17, 2012.

As part of the board reconstitution, the company will appoint two new directors to the board are Ryan E. Cheung and Robert Campbell. In addition, the board will appoint a fifth director, on or before January 15, 2013, nominated by Messrs. Mitchell and Pallotta, who must be independent and at arm's length to each of such individuals.

Ryan E. Cheung is currently serving as a director of AMI Resources Inc. since April 30, 2009, Midasco Capital Corp. since March 10, 2009, Chief Financial Officer for Shamrock Enterprises Inc. since 2010 and for Jet Gold Corp. since May 3, 2012.

Robert Campbell is currently the CFO of Bannon Hospitality, LLC.