Admiral Bay Resources Inc.

Admiral Bay Resources Inc.

September 08, 2010 12:47 ET

Admiral Bay Announces Results of Annual General and Special Meeting of Shareholders

CENTENNIAL, COLORADO--(Marketwire - Sept. 8, 2010) - Admiral Bay Resources Inc. (TSX VENTURE:ADB) ("Admiral Bay" or the "Company") is pleased to announce that all items on the previously announced agenda for the Company's Annual General and Special Meeting were approved by the shareholders. The meeting was held on September 3, 2010 at the Company's corporate office in Denver, Colorado.

Directors elected for the ensuing year are Steve Tedesco, Steven Quoy and Peter Tunkey. Steve Tedesco will become Chairman of the Board and remain President and Chief Executive Officer. Mr. Tedesco will be acting CFO until the Company reviews its strategic alternatives. Mr. Carington will not be continuing on as an officer of the Company. 

Peter R. Tunkey is the owner and President of Buffalo Materials Handling Corporation. From 1981 to 1998, Peter Tunkey was the owner and operator of the National Car Rental franchise, representing four locations in Buffalo and Niagara Falls, NY. Peter more than doubled the rental business through innovative marketing programs and strategic pricing. He also developed and successfully launched several other business ventures that were centered on the "National" brand, including National Leasing Company, National Car Sales, National Airport Parking and National Car Care. After selling the company back to the National corporate office in 1998, Peter took the role as Vice President of Operations of Employer Services Corp., a start-up company that rapidly became an INC 500 company. Peter guided the business to profitable, exponential growth, leading technical and operational initiatives that drove sales up from less than $1 million to $90+ million. Additionally, he was individually credited with saving $2+ million in labor expenses through cost saving initiatives and process improvements. In 2009, Peter began exploring acquisition opportunities for a business with strong profit and growth potential. In June of 2010, Peter purchased Buffalo Materials Handling Corporation, a fork lift, warehousing and material handling business that has been in business for over 50 years.

Admiral Bay Resources Inc. ( is an unconventional gas production company focused on the development of projects in the Cherokee Basin in southeast Kansas and the Appalachian Basin in Pennsylvania. Admiral Bay is listed on the TSX Venture Exchange under the symbol ADB.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "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.

Contact Information

  • Admiral Bay Resources Inc.
    Steven Tedesco
    President & C.E.O.
    (303) 350-1255
    (303) 617-8956 (FAX)