Serengeti Appoints New Director
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 12, 2006) - Serengeti Resources Inc. (TSX VENTURE:SIR) is pleased to announce the appointment of mining finance specialist Lewis Lawrick as a Director of the Company effective today.
Mr. Lawrick brings significant relevant mining finance and capital markets experience to Serengeti. He is currently a Managing Partner of Birkenshaw & Company Ltd., a private Toronto based company engaged in providing a broad range of corporate financial advisory services, including mergers and acquisitions, asset divestitures, financial re-structurings and debt and equity financings to its clients in the mineral sector.
As well, Mr. Lawrick is Managing Director of Thorson Fordyce Merchant Capital, a private merchant bank whose mandate is "to provide enhanced returns on capital via structured investments in the resource sector". Mr. Lawrick brings an 'activist' approach to his role to as an independent Board member of several publicly listed 'junior' mining companies. His experience as a Director covers both exploration and pre-development companies; base and precious metals; and a wide geographic range, extending from North and South America, Africa, Australia, to China.
David Moore, President of Serengeti stated: "On behalf of all the Directors, I would like to say how pleased we are to have someone of Mr. Lawrick's ability and background join the team. Lewis will bring significant new capabilities to Serengeti which should prove invaluable in advancing the Company's strategic growth initiatives."
With the expiration of a number of the Company's options at year end, new and replacement options are being granted concurrent with Mr. Lawrick's appointment. Five directors and officers of the Company and one consultant were granted stock options totaling 983,000 shares at a price of $0.15 per share from Serengeti's incentive stock option plan. The options are exercisable for a five year period and are subject to vesting provisions.
About Serengeti Resources Inc.
Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of exploration success. The Company is focused on the discovery and development of copper-gold molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough where the Company controls 13 separate properties totaling over 340 sq. km.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
