Mediterranean Resources Ltd. Announces Senior Management and Board Changes
21.03.2011 | CNW
VANCOUVER, March 21 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR) (Frankfurt: MHM1) ("Mediterranean" or the "Company") announces that Christopher Ecclestone has been appointed as Interim Chief Executive Officer of the Company, pending the engagement of a permanent CEO. The Company also announces that Winnie Wong (of Pacific Opportunity Capital Ltd.) has resigned from her position of Chief Financial Officer to allow for the appointment of Ann Fehr as the new Chief Financial Officer. Ann Fehr has several years of experience with the implementation and use of International Financial Reporting Systems which will greatly aid the Company in its transition to IFRS. This change follows discussions initiated some time ago. Interim Chairman, John Clarke commented "The Board of Mediterranean would like to thank Winnie Wong for her many years of service, which began when the Company first started operations in Turkey over six years ago".
The Company also announces that Peter Guest has resigned as a Director 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