VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2012) - Elm Tree Minerals Inc. (TSX VENTURE:ETM) -
Elm Tree Minerals Inc. (the "Company" or "Elm Tree") is pleased to announce that Peter R. Hughes and Richard Lee have each agreed to join the Board of Directors of the Company and to become part of the management team. In addition to becoming directors, Peter R. Hughes has been appointed President and Chief Executive Officer of the Company and Richard Lee has been appointed Chief Financial Officer.
Mr. Hughes brings to the Company 25 years business experience including senior-level executive and Director positions in both private and public companies specializing in pharmaceuticals, alternative energy and mining. Mr. Hughes has built industrial and resource companies from the ground up and has obtained regulatory approval and exchange approval for numerous reporting issuers. His experience includes; corporate structuring, public and private financing, marketing, strategic planning, negotiating agreements and public company management. He has also worked with National Research Council Canada providing alternative energy companies with market intelligence and strategic planning. Mr. Hughes is a Director of Kelso Technologies Inc. (TSX.V), a 2012 TSX Venture 50, a Director of Race Capital Corp. (TSX.V) and a Director of Pan American Fertilizer Corporation (CNSX). Mr. Hughes has a Bachelor of Science degree and completed the Canadian Securities Course and Directors and Officers Program.
Mr. Lee is a graduate of the University of British Columbia with a Bachelor's degree in Commerce and is a Certified Management Accountant having obtained his designation in 1991. Mr. Lee has spent over 30 years either working for public accounting firms or for companies that trade on a recognized stock exchange. He has a wealth of financial and accounting experience working with and for public companies which trade in Canada on the TSX-Venture Exchange including CFO at Happy Creek Minerals Ltd. (TSX.V), CFO of Kelso Technologies Inc. (TSX.V), a 2012 TSX Venture 50, as well companies registered with the SEC in the United States. In addition, he has been involved in numerous start-up and turnaround ventures.
The Company announces that after over five years of service to the Company, Michael Waggett has resigned as President, Chief Executive Officer and a director of the Company. The Company thanks Mr. Waggett for his contribution to the Company over those years and wishes him success in his continuing endeavors. Mr. Waggett has thanked the Board of Directors for the opportunity to work with them over those five years and for the experience he gained from working with them.
The Company also announces that Barry Brown, the founder of the Company in 2006, has resigned as a director of the Company. The Company thanks Mr. Brown for his initiative in founding the Company and for his years of service to the Company since then.
About Elm Tree
Elm Tree Minerals Inc. (the Company) is publicly held and listed on the TSX Venture Exchange (TSX VENTURE:ETM). The Company's primary focus is the exploration and development of mineral properties in Atlantic Canada, which is a sovereign risk free, resource rich domain. The Company's key asset is the Keymet Property located in Bathurst, New Brunswick, Canada. The Keymet property is located 24 km northwest of Bathurst and the property covers 6,400 acres and is named after a small past producing mine located on the property.
To find out more about Elm Tree, visit our website at www.elmtreeminerals.com.
ELM TREE MINERALS INC.
Douglas Eacrett, Secretary
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.