Perlite Canada Inc.

Perlite Canada Inc.

April 18, 2012 16:00 ET

Perlite Canada Inc. Announces the Appointment of Faycal Salek to the Position of Director of the Company

MONTREAL, QUEBEC--(Marketwire - April 18, 2012) - Perlite Canada Inc. (the "company")(TSX VENTURE:PCI) is pleased to announce the appointment of Fayçal Salek to the position of director of the company at the annual meeting of shareholders of the company held on April 2012. Mr. Salek replaces Mr. Patrick Whalen who resigned on March 5, 2012 to concentrate his activities with his employer.

Mr. Fayçal Salek is a Chartered Accountant. He worked at Petrie Raymond, Charted Accountants - s.e.n.c.r.l, as Director between January 2002 and June 2011. From July 2011 to March 2012, he was Vice-President Finance with Hitlab inc., a music and social media company. Since April 2012, he is consultant on his own.

Therefore, the Board of Directors of the company is composed of the following 4 directors: Richard Barabé, Chairman of the Board, Martin Joyal, Patrick Barriault and Fayçal Salek.

Messrs Patrick Barriault and Fayçal Salek are independent directors within the meaning of the rules and policies adopted by Canadian securities regulators. Richard Barabé and Martin Joyal are not considered independent given that they are members of the management of the company.

Fayçal Salek will act as president of the Audit Committee, which will comprise also Patrick Barriault and Martin Joyal. The Audit Committee is therefore composed of a majority of independent directors.

Perlite Canada Inc. specializes in the transformation, distribution and sale of Perlite and Vermiculite, minerals used in the horticultural and industrial sectors.

The common shares of Perlite Canada Inc. trade on the TSX Venture Exchange.

The TSX Venture Exchange has examined neither the adequate character nor the exactness of the information contained in this press release, and declines any responsibility with regard to this information.

Contact Information

  • Perlite Canada Inc.
    Richard Barabe
    (514) 336-6665 / (514) 984-9798
    (514) 336-6651 (FAX)