Marchwell Ventures Ltd. Announces Change to Board of Directors and Officers and Grant of Options
November 29 2011 - 3:04PM
Marketwired
Marchwell Ventures Ltd. (TSX VENTURE:MVE.H) (the "Corporation"),
announces that Peter Evans and Bruce Linton have tendered their
resignations as directors of the Corporation effective November 10,
2011 and November 17, 2011, respectively, and Richard Iglinski has
tendered his resignation as Director of Corporate Finance acting as
Chief Financial Officer effective November 28, 2011. The board of
directors would like to thank Peter, Bruce and Richard for their
contributions and wish them the best in their future
endeavours.
In connection with the above resignations, the board of
directors is pleased to announce the following appointments:
K. Peter Miller - Director;
Donn Burchill - Director, President and Chief Executive
Officer;
John Downes - Chief Financial Officer; and
Sandra Lee - Corporate Secretary.
The Corporation has also established an audit committee ("Audit
Committee") and the following persons are appointed to such Audit
Committee:
John Eckert;
Donn Burchill; and
K. Peter Miller.
The Corporation also announces that its board of directors has
granted stock options in respect of an aggregate of 380,000 common
shares of the Corporation to the directors, officers and management
company employees of the Corporation. The exercise price of the
options is $0.20 per share, with each stock option entitling the
holder to purchase one common share for a period of five years.
Neither 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.
Contacts: Marchwell Ventures Ltd. Sandra Lee Corporate Secretary
(604) 488-5427
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