Niko Resources Ltd.

Niko Resources Ltd.

March 28, 2016 07:30 ET

Niko Resources Ltd. Announces Board Changes

CALGARY, ALBERTA--(Marketwired - March 28, 2016) - Niko Resources Ltd. (Niko or the Company) (TSX:NKO) wishes to announce that Mr. Kevin J. Clarke has indicated he intends to resign from his role as Chairman of the Board and interim Chief Executive Officer, effective upon the completion of the previously announced restructuring transaction described in detail in the Company's press release of March 14, 2016.

The Company is pleased to announce the appointment of Mr. Robert S. Ellsworth Jr. to its Board, effective immediately. Mr. Ellsworth previously served as the Global Co-Head and Chief Operating Officer of BlackRock's $20+ billion, multi-manager hedge fund business. He holds a Bachelor of Arts degree in Business Administration from the University of Washington, and is a Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA).

Niko also wishes to announce that it has accepted the resignations of Messrs. Vivek Raj and Steven K. Gendal as directors from the Board. The Company thanks both Mr. Raj and Mr. Gendal for their years of dedicated service to the Company, including their significant contributions in helping re-position Niko for the future.

The Board now is comprised of Kevin J. Clarke, E. Alan Knowles, William T. Hornaday, Christopher Rudge, and Robert S. Ellsworth Jr.

Forward-Looking Information

Certain statements in this press release constitute forward-looking information. Specifically, this press release contains forward looking information relating to the timing of certain changes to the Board and management. 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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