Tournigan Cuts Costs, Opens Denver Office, Appoints CFO, Corporate Secretary
January 30 2009 - 12:30PM
Marketwired
Tournigan Energy Ltd. (TSX-V: TVC) (FRANKFURT: TGP) announced today
that the company has relocated its technical management office to
Denver, CO, while maintaining a small corporate, financial and
investor relations office in Vancouver, BC. The company has
appointed Doris Meyer as chief financial officer and corporate
secretary of the company, replacing Hans Retterath and Jude Fawcett
respectively. Tournigan has also engaged the financial reporting
and corporate compliance services of Golden Oak Corporate Services
Ltd, owned by Ms. Meyer. The company will attempt to find a
replacement tenant for its downtown Vancouver office.
"These cost-cutting measures were enacted to preserve cash while
providing the highest level of professionalism and accountability
to shareholders," said Dorian (Dusty) Nicol, Tournigan president
and CEO. "Overall, these measures are expected to lower our
corporate overhead by approximately C$70,000 per month."
The company wishes to thank Mr. Retterath and Ms. Fawcett along
with the Vancouver accounting staff for their services and wishes
them well in their respective future endeavors. Knox Henderson will
remain in Vancouver as the company's manager, investor
relations.
Doris Meyer - CFO and Corporate Secretary
Ms. Meyer is a member of the Association of the Certified
General Accountants of British Columbia and Canada. She was vice
president, finance of Queenstake Resources Ltd. from 1985 to 2003
and corporate secretary until 2004 where she led negotiations of
joint venture and purchase agreements, equity financings, debt
financings and capital purchases.
In 1996 Ms. Meyer formed Golden Oak Corporate Services Ltd. Ms.
Meyer acts as chief financial officer and/or corporate secretary of
several publicly traded mining companies and her company provides
those clients with administrative, accounting and compliance
services.
On January 26, 2009 the directors of the company granted the new
chief financial officer and one other officer a total of 300,000
incentive stock options of the capital stock of the company
exercisable for up to a five year period at a price equal to the
closing price of the company's stock on January 26, 2009. The
options granted will vest over a period of 18 months.
About Tournigan Energy Ltd.
Tournigan Energy is a uranium and gold exploration and
development company that has built a portfolio of highly
prospective assets in Europe. The Company has focused its
development and obtained licences in Slovakia, a member of the
European Union since 2004. Slovakia is economically and politically
stable, has excellent infrastructure, an educated population and,
as of January 1, 2009, has adopted the Euro currency. Tournigan
Energy is committed to safe and sustainable exploration and mine
development in Slovakia and its other operational
jurisdictions.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
Forward-looking statements: Certain of the statements made
herein, including any information as to the Corporation's future
financial or operating performance, may be forward-looking and
subject to important risk factors and uncertainties, many of which
are beyond the Corporation's ability to control or predict.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Corporation undertakes no
obligation to update publicly or release any revisions to
forward-looking statements to reflect events or circumstances after
the date of this document or to reflect the occurrence of
unanticipated events.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Distributed by Filing Services Canada and retransmitted by
Marketwire
For further information please contact: Knox Henderson Tournigan
Investor Relations (604) 637-3563 www.tournigan.com
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