Niko Resources Ltd.

Niko Resources Ltd.

October 08, 2014 08:00 ET

Kevin J. Clarke Appointed Chairman and Interim CEO of Niko Resources Ltd.

CALGARY, ALBERTA--(Marketwired - Oct. 8, 2014) - Niko Resources Ltd. ("Niko" or the "Company")(TSX:NKO) today announced that the Board of Directors of the Company has appointed Kevin J. Clarke as Chairman of the Board and interim Chief Executive Officer. Mr. Clarke, who was appointed to the Board of Directors in August 2014, succeeds Wendell W. Robinson, who retired following the annual meeting of shareholders held in September 2014, as Chairman.

During his 40-year management career, Mr. Clarke has led global high performance organizations of up to 15,000 people with over $1 billion in sales and with manufacturing facilities across the US, Canada, and Latin America. From 2010 to 2013, Mr. Clarke was President and CEO of Catalyst Paper, a manufacturing company specializing in pulp and paper for newspapers, magazines and other print applications, and led the financial and operational restructuring of the company. Previously, Mr. Clarke held a variety of leadership positions at Worldcolor (Quebecor World) from 1986 to 2009, including Group President, Publishing Services Group (2008-2009), where he led institutional strategic planning and strategic business development initiatives. Mr. Clarke holds a Bachelor of Science from Niagara University in New York.

"I look forward to working closely with the newly structured Board and with Niko's talented executive team to prioritize, preserve and maximize the assets within our portfolio and reset a platform for future growth," said Mr. Clarke. "While there is a lot of work ahead of us, we are committed to managing the Company's current liquidity to reestablish our financial standing and deliver on our strategic plan."

About Niko Resources Ltd.:

With its head office in Calgary, Alberta, Canada, Niko is focused on value generation in the D6 Block in India, while maintaining optionality to benefit from the exploration potential in its portfolio.

Forward-Looking Information

Certain statements in this press release constitute forward-looking information. Specifically, this press release contains forward looking information relating to the Company's ability to prioritize, preserve and maximize the assets within its portfolio and reset a platform for future growth, the Company's current liquidity and its ability to reestablish its financial standing and deliver on its strategic plan.

Undue reliance should not be placed on forward-looking information. Such forward-looking information reflects the Company's current beliefs and assumptions and is based on information currently available to the Company. These forward looking statements are based on certain key expectations and assumptions, including expectations and assumptions regarding its future growth and changes in leadership. The reader is cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. The forward-looking information is presented as of the date of this press release, and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as required by law.

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