Mediterranean Resources Ltd. Announces Senior Management and Board Changes
16.03.2011 | CNW
VANCOUVER, March 16 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") announces that Peter Guest is no longer acting as President and Chief Executive Officer of the Company effective March 15, 2011.It also advises that Bryan Morris has resigned as a Director of the Company with immediate effect.
The Company shall undertake a comprehensive search for Dr Guest's successor. While the search proceeds John Clarke, a Director, will assume the role of interim Non Executive Chairman of the Company.
Signed on behalf of the Board of Directors.
The TSX does not accept responsibility for the adequacy or accuracy of this release.
Statements contained in this news release that are not historical fact, such as statements regarding the prospects of the Company's Chief Executive Officer ("CEO") search, are forward-looking statements as that term is defined in Canadian Securities legislation and the Private Securities Litigation Reform Act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the Company's ability to identify and engage a suitable CEO and the other risks and uncertainties described more fully in the Company's Form 20-F as amended and other filings with Canadian regulators and the Securities and Exchange Commission. Our forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and we do not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
For further information:
Christopher Ecclestone
Interim Chief Executive Officer
604-669-3397
www.medresources.ca