Giustra joins US Oil Sands board of directors

Canadian business executive Frank Giustra has accepted a seat on the board of directors of U.S. Oil Sands, an Alberta-based company with plans to develop tar sands deposits in Utah.

The board reshuffling was recently announced alongside an $80 million investment injection from three companies: Blue Pacific Investments Group Ltd., Anchorage Capital Group, L.L.C. and Spitfire Ventures, LLC. Giustra is a major shareholder in Blue Pacific.

Giustra will no doubt provide some muscle in U.S. Oil Sands' push to establish a "tar sands south" in Utah’s Uintah Basin. He, with assistance from former President Clinton, has expanded business frontiers in the past, including large oil and uranium deals in Colombia and Kazakhstan, respectively.

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