Peat Resources Limited
TSX VENTURE : PET

Peat Resources Limited

December 01, 2014 16:11 ET

Peat Resources Limited Announces Election of Peter Smith to the Board of Directors

TORONTO, ONTARIO--(Marketwired - Dec. 1, 2014) - Peat Resources (TSX VENTURE:PET) is pleased to announce the election of Peter Smith to the Board of Directors at the Annual General Meeting held November 28, 2014 in Toronto.

Mr. Smith is President of the 117-year-old Bermingham Foundation Solutions and brings more than 30 years of experience in construction, engineering and the manufacturing of construction equipment. He has taken leadership roles in marketing, strategic planning, implementing systems and processes. Smith has managed the acquisition of companies as well as large sales forces and key product lines. Educated at the Universities of Toronto and Guelph, Mr. Smith is a member of the Professional Engineers of Ontario. Prior to joining Bermingham in 2003, Mr. Smith managed the Ontario operations of Armtec, one of Canada's largest manufacturers of infrastructure products.

The Board would also like to thank Peter Telford, the former CEO of the company, upon his retirement from the board for his service to the company.

Peat Resources Limited was formed to explore, develop and produce peat fuel - a sustainable bioenergy resource. The company is active in Ontario and Newfoundland. The company has developed an environmentally acceptable harvesting and processing system to supply consistent quality peat fuel in long-term (+ 20 year) contracts to utilities and other industrial operations for heat and power generation. The Company is also investigating development of value-added biocarbon derivatives from peat pellets such as activated carbon for which there is growing demand in many industrial and domestic applications.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review registered filings at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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