KELOWNA, BC, May 19 /PRNewswire-FirstCall/ - Tiex Inc. ("Tiex" or the "Company") (TSX-V: TIX) is pleased to announce that Dr. Scott Jobin-Bevans (Ph.D., P.Geo.), has accepted the position of Chairman of the Board.
Scott joined the Board of Directors of the Company on January 21, 2011. Scott 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 former President and Director of Treasury Metals Inc. and the Director and Founding Partner of Caracle Creek International Consulting Inc. Presently he is a Director and President of the Prospectors & Developers Association of Canada (PDAC). Scott has worked with an impressive and long list of companies that has given him international credentials that are uncommon in his field.
He has the proven ability to take a company from conception to multi-million dollar advanced exploration and has valuable experience in raising and managing risk capital. He also has vast knowledge in resource modeling, project valuation and NI 43-101 reporting.
Mr. Faulkner comments, "I am very pleased that Scott has accepted the appointment. I am also excited for our shareholders. This type of commitment does not come without considerable deliberation on Scott's part and shows his commitment to the Company and its shareholders." Mr. Faulkner added, "We, as the Board of the Company have been very active and committed to maximizing shareholders value. We have been able to institute changes that will have long term beneficial ramification for our shareholders as a result of the direction we have taken on the geological technical and administrative sides. Scott is a tremendous asset as he is proficient in both of these areas and will certainly add value as we grow the Company."
Dr. Scott Jobin-Bevans comments, "I am looking forward to my expanded role at Tiex and to working with the excellent team that Ken has put together to move the projects and the company forward."
The Company is granting additional stock options to buy an aggregate of 200,000 shares to Scott at a price of $0.18 per common share for a period of five years ending May 18, 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 95,559 hectare Cariboo Goldfields Project, (including the earn-in option/joint venture agreement with Newmont announced in the Company's April 27, 2011 news release) 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.