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 |   Mon Feb 25, 2008
RFI Board Changes and Share Placement
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| | Hamilton, Bermuda, February 25, 2008: Resource Finance & Investment Limited ("RFI") symbol OTC: RFIVF.PK
In preparation for its next phase of development, RFI has recently accepted the resignations of three long serving members of its board and appointed two replacements.
Cheryl Wilson, Nicholas Plumbridge and Isaac Moss have resigned as Directors. RFI is appreciative of their contributions over the years and their support in enabling the new appointments to be effected in accordance with the current constitution of the Company.
Mr. Henrik Schröder and Mr. Arthur Jones have joined the board, each bringing considerable experience from their respective areas of commerce. This experience compliments the Company's current and planned activities of investing in the development of natural resource based enterprises.
Mr. Schröder is a partner at Amerscan Capital Management Limited, a Bermuda based boutique private equity group focusing on investments in the oil and gas services and enterprise software and services industries. He is the Chairman of the Board and a founding investor of Enovation Resources Ltd and a serves as a director of StreamServe Inc and AKJ Group Limited.
During his career he devoted a large portion of time to establish, develop and manage international business opportunities, with a focus on Scandinavian/U.S. enterprises, drawing on his diverse background within structured and corporate finance, marketing and sales, strategic management and senior executive management. He has worked for international companies including Saab Aircraft Group, Hagströmer & Qviberg and the SEB Group. From 1993 to 1995 he was the President of Saab Aircraft Finance Corp and from 1995 to 1998 he served as President of Saab Aircraft of America. Mr. Schröder was an integral part of a corporate restructuring team within Saab AB, pursuing strategic alternatives for the Saab Aircraft business.
Mr. Schröder is Swedish and earned an MBA in international business and finance from the Stockholm School of Economics and undertook postgraduate studies at NYU, under a scholarship from the Wallenberg Foundation. He completed the Executive Management Program at the Wharton School.
Mr. Jones is a principal shareholder and CFO of the Consolidated Group of Companies based in Hamilton, Bermuda. The Consolidated Group of Companies provides corporate and accounting services to clients in the oil & gas, shipping, hedge fund, and insurance industries and he serves on the board of a number of such companies. His formal education was at University College of Wales, where he obtained a BSc (Econ) degree -- Economics and International Politics in 1978. In 1984 he became a member of The Institute of Chartered Accountants, England & Wales and from 1984-1987 was with KPMG, based in Hamilton, Bermuda. He has been with the Consolidated Group since then.
Philip Garratt, the President and CEO of RFI stated that "We are very pleased to have two such eminently qualified persons as independent directors of our Company as we continue moving forward with the next stage in the process of undertaking a larger scale investment in a sector where our management and board resources can add value and be effectively deployed."
RFI has agreed to issue 833,500 new shares for net proceeds of US$250,050. The funds will be added to working capital.
RFI is a Bermudian corporation and operates as an early stage strategic investor in natural resource based opportunities. It is currently in the process of completing the necessary application and associated documentation to obtain listing on The Bermudian Stock Exchange. RFI's owns approximately 42% of the issued capital of the Australian publicly listed company Industrial Minerals Corporation Ltd (IDM:ASX) and 100% of Dynamex Resources Corporation. Industrial Minerals Corp is developing a mineral extraction and processing facility in Southern Oregon, USA and Dynamex is undertaking a zinc focused exploration program in Kentucky, USA.
End
For further information contact:
Steven Blacklock, CFO
Resource Finance and Investment Ltd
Tel: +1 503-803-7332
Fax: +1 503-241-6145
Email: info@resource-finance.com |
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