| | | June 30, 2011
MBMI Announces Management Changes and Office Relocation
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| | Vancouver, B.C., June 30, 2011 -- MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX-V: MBR) is pleased to announce that, subject to regulatory approval, the Company has engaged the financial reporting and corporate compliance services of RG Mining Investments Inc. Pursuant to this engagement and effective July 01, 2011, MBMI has appointed Stephen M. Gledhill as Chief Financial Officer and Leslie Haddow as Corporate Secretary.
Stephen M. Gledhill is a Certified Management Accountant (CMA) and is a partner in RG Mining Investments Inc. He is also a principal of Keshill Consulting Associates Inc., a boutique management consulting practice. Stephen has over 25 years of financial-control experience and acts as CFO for several publically-traded mining/mineral exploration and health-services companies. Prior to the inception of RG Mining Investments Inc., Mr. Gledhill served as the Senior Vice President and CFO of Borealis Capital Corporation, a Toronto-based merchant bank.
Leslie Haddow brings more than 15 years of experience in the corporate secretarial role and has been involved in many industries including mining/mineral exploration, real estate, and corporate finance. She has acted as Corporate Secretary of Southern Andes Energy Inc. since May, 2010, and previously as Corporate Secretary of Homeland Uranium Inc., Cornerstone Capital Partners LLP. and Avotus Corporation. Prior to these appointments she acted as the Assistant Corporate Secretary of the Canadian Real Estate Investment Trust (CREIT).
In connection with this engagement, and in accordance with the Company's Stock Option Plan, MBMI has granted to RG Mining Investments Inc. incentive stock options to purchase up to an aggregate of 350,000 common shares exercisable on or before July, 2016, at a price of $0.10 per share. These options are subject to regulatory approval and shall expire five years from the date of grant, subject to the termination provisions of MBMI's Stock Option Plan.
Resignations and Corporate Head Office Relocation
Effective July 01, 2011, Mr. David G. Tafel and Mr. Kenneth A. Cawkell have resigned from their respective positions as V.P. Corporate Development and Corporate Secretary with MBMI; both will remain as directors. Mr. John F. Cook has resigned as interim Chief Financial Officer but will continue as the Company's Executive Vice President.
Also effective July 01, 2011, the Company's corporate head office will relocated to Toronto, Ontario.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael T. Mason"
President and CEO
Further Information
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact Investor Relations at 604-733-4196 or mbr@mbmiresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
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