Under the terms of the investment agreement entered into as between Canacol Energy Ltd. and Cavengas Holdings S.R.L. The company appointed Oswaldo Cisneros and Mr. Alberto Jose Sosa Schlageter to its board. Mr. Cisneros is the principal of Cavengas and currently serves as the President of Corporación Digitel. Mr. Sosa Schlageter is currently the Chief Executive Officer of Corporación Digitel.