Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Resignation of Director:
On May 2, 2014 Mr. Bobby Orbach resigned as director of the Company. Previous, to this date, Mr. Tom Hemingway resigned as a director and officer of the Company and Mr. Dennis O’Neill resigned as director of the Company
Appointment of New Director:
On May 2, 2014 the Board appointed Mr. Ken Berscht to the Board and appointed the following individuals to serve on our Board of Directors:
Mr. Berscht has had an extensive career in investment banking and finance in the resource field. He has worked worldwide with investors in Europe and Asia as well as North America. Since 2009 Mr. Berscht has worked as vice president of International Enerplus, one of Canada's leading income trusts, managing their offshore branch in Europe. He was the President of Odyssey Management in the Cayman Islands and is a registered Mutual fund administrator in the Cayman Islands. In this position he managed an oil and gas fund for Middle East investors.
Mr. Berscht recently became interim president of a major silver mining company and assisted in raising over 50 million for their operations. He has been sought after as both a director and senior officer in both mining and oil and gas companies in Canada, the United States and Ireland. Mr. Berscht graduated with a degree in Honors Business Administration from the University of Western Ontario. In his years in the investment business he has been qualified with the IDA in Canada as an investment advisor and in the United States as a General Principal with the NYSE. He is a member of the SME and in Europe as an IFA.
Mr. Berscht does not have any family relationship with any other member of the Board or any executive officer of the Company. There are no arrangements or understandings between either Mr. Berscht or any other person pursuant and the Company under which either was selected to serve on the Board of Directors of the Company. There has been no transaction, nor are there any proposed transactions, between the Company and Mr. Berscht that would require disclosure pursuant to Item 404(a) of Regulation S-K.
Get rich slow get poor fast.
“When a man with money meets a man with experience, the man with the experience ends up with the money, and the man with the money ends up with the experience.”
You have to take their money before they take yours. :-))))
