KELOWNA, BC, Jan. 24 /PRNewswire-FirstCall/ - Tiex Inc. ("Tiex" or the "Company") (TSX-V: TIX) is pleased to announce the following Company Management and Board of Directors changes:
Mr. Kenneth D. Faulkner has been elevated to the President and CEO from V.P. Corporate Development.
Mr. Ernest Bergvinson has resigned as Director, President and CEO of the Company. Mr. Bergvinson will become a consultant and a member of the Advisory Committee for the Company.
Mr. John Buckle P. Geo. has resigned as Director and qualified person as defined by NI 43-101, (Q.P.), for the Company. John will be a valuable addition to the Company as a consultant.
Mr. Stephen Wetherup B.Sc. P. Geo., of Caracle Creek International Consulting Inc. (CCIC) has assumed all geological and Q.P. duties. Mr. Wetherup will become a member of the Advisory Committee for the Company.
Mr. Scott Jobin-Bevans Ph. D., P. Geo., has joined the Board of Directors. Mr. Jobin-Bevans has a B.Sc. (Hons) and M.Sc. from the University of Manitoba and a Ph.D. from the University of Western Ontario. He is the President and Director of Treasury Metals Inc. and the Director and Founding Partner of Caracle Creek International Consulting Inc. Presently he is the President of the Prospectors & Developers Association of Canada (PDAC) for a two year term that started in March 2010. Scott has worked with an impressive and long list of companies that has given him international credentials that are uncommon in his field.
Scott has the proven ability to take a company from conception to multi-million dollar advanced exploration and experience in raising and managing risk capital. Scott has vast knowledge in resource modeling, valuation and NI 43-101 reporting.
Mr. Wade Black, M.B.A. has joined the Board of Directors. Mr. Black is the president of Blackberry Fund Management, Inc., a New York-based venture capital and asset management company. He has more than 15 years of experience managing operations for broker-dealers and investment advisory firms. He, along with his partners, founded Scarsdale Equities LLC, an investment bank and brokerage based in New York, in 2005. He remains a registered representative of Scarsdale Equities LLC. He is also currently a director of United Mining Group, Inc.; a TSX listed mining company with operations in northern Idaho, and a trustee of Brooklyn Friends School, an independent Quaker school in Brooklyn, New York.
Mr. Black graduated cum laude with a bachelor's degree in philosophy and economics from Columbia University in 1999, and earned a master's degree in business administration from Columbia Business School in 2005.
Mr. Faulkner comments, "I have known Steve, Scott and Wade for years and know they have the respect of the industry and a track record that proves it, and that will take Tiex to the next level. The record of success achieved by their collective efforts, both past and present, is a signal to all shareholders that we are prepared and able to build significant value in the company. I believe we have all the necessary elements in place to start the prove up process of our extensive property portfolio. The process has begun. While we are very excited about the future we cannot take the past for granted. Ernie Bergvinson left us with a property package second to none in quality. Ernie gave us the catalyst to move forward and John Buckle helped him prove it. I am grateful that Ernie and John will continue to contribute valuable advice as consultants to the Company."
The Company is granting stock options to buy an aggregate of 1,042,498 shares to directors and officers of the company at a price of $0.18 per common share for a period of five years ending Jan. 20, 2016.
The options have been granted under the Company's existing stock option plan and are subject to the provisions contained in the Company's stock option plan. The Company has a 10-per-cent rolling-stock-option plan, in accordance with the policies of the TSX Venture Exchange, which plan reserves a maximum of 10 per cent of the issued and outstanding shares of the Company at the time of the stock option grant.
About Tiex Inc:
Tiex Inc. is a TSX Venture listed mineral exploration company focused on the exploration of its 137,572 hectare Cariboo Goldfields Project located in the historic Quesnel Trough area of central British Columbia, Canada. The property is accessible by highway and logging roads year round. For more information, you can visit the company's website at www.tiexinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Kenneth D. Faulkner"
President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.
NEITHER THE 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.
SOURCE TIEX Inc.
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