Kokanee Minerals Inc.

November 03, 2011 09:30 ET

Kokanee Announces Management Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 3, 2011) - Kokanee Minerals Inc. ("Kokanee" or the "Company") (TSX VENTURE:KOK) announces that Mr. Souhail Abi-Farrage has resigned as President and Chief Executive Officer of the Company. Mr. Farrage has been appointed the Company's Vice President of Exploration (Tanzania). Ms. Michelle Gahagan replaces Mr. Farrage as President and Chief Executive Officer. Ms. Gahagan has also been appointed a director of the Company. Ms. Gahagan is replacing Mr. Manuel Chan on the Company's board of directors. Mr. Chan has resigned to focus more time on personal business interests. Kokanee has also appointed Mr. John Jardine as Chief Financial Officer of the Company.

Ms. Gahagan is currently a principal of a privately-held merchant bank based in Vancouver and London. Prior to the commencement of her involvement in merchant banking five years ago, Ms. Gahagan graduated from Queens University Law School and practiced corporate law for 20 years. Ms. Gahagan has extensive experience advising companies with respect to international tax-driven structures, mergers and acquisitions. Ms. Gahagan has successfully completed the Investment Management Certificate course and is a Qualified Person under the Financial Services Authority (UK) regime. Ms. Gahagan is currently the President of Suparna Gold Corp. and a director of ArPetrol Ltd., Bowood Energy Inc., eShippers Management Ltd. and CellStop Systems Inc., all companies listed on the TSX-V.

Mr. Jardine has 30 years experience managing accounting and financial compliance for public companies trading on various Canadian and U.S. exchanges. As president of J. W. Jardine & Company Ltd. in West Vancouver, B.C., an accounting firm providing services to public and private companies, Mr. Jardine specialized in compliance financial reporting, company tax planning and tax preparation. From 1988-1989 he was vice president, finance of Samoth Financial in Vancouver, in charge of accounting department supervision and public company and real estate transactions. From 1984-1988 he was Vice President of finance of Noramco Mining Corp. in Vancouver, B.C. where he managed the financial compliance for more than 50 Vancouver and Toronto Stock Exchange-listed companies. From 1981 to 1983, he was financial accountant for Andex Oil Corp, in Calgary. Mr. Jardine completed his B. Comm in 1975 from Carleton University in Ottawa, Ontario and completed his Certified Management Accounting designation in 1981.

On behalf of the Board of Directors

Souhail Abi-Farrage, Director

Neither 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.

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  • Kokanee Minerals Inc.
    Souhail Abi-Farrage