SOURCE: Ramoil Management Ltd.

February 20, 2015 07:00 ET

Ramoil Management, Ltd. Announces New Interim President and Chief Executive Officer

LAS VEGAS, NV--(Marketwired - Feb 20, 2015) - Ramoil Management, Ltd. (OTC PINK: RAMO) (RAMO or "the Company") today announced the resignation of Michael Goeree as its President, Chief Executive Officer and Chairman of the Board of Directors. Timothy Stokes, who worked in the area of business development for Ramoil, was appointed as Chairman of the Board of Directors, will serve as Ramoil's Interim President and Chief Executive Officer until permanent successor can be found.

Mr. Stokes stated, "On behalf of Ramoil, I'd like to thank Mr. Goeree for his contributions to the Company and formulating its long-term strategy to become a leader in the exciting new arena of legal marijuana. Ramoil will focus on developing the operation of licensed and legal cultivation, extraction, manufacturing and retail facilities."

Mr. Stokes continued, "We remain committed to our growth agenda and enhancing value for our shareholders. The Board intends to complete the search process deliberately and thoughtfully to find the right individual with the experience and qualifications to lead the Company into the future."

The Company will continue to advance its previously announced initiatives as well as the execution of its long-term strategy.

About Ramoil Management, Ltd. Ramoil Management, Ltd. (RAMO) is a development stage company focusing on the developing the operation of licensed and legal cultivation, extraction, manufacturing and retail facilities. The Company is planning to build production facilities and research labs, both domestically and internationally, develop its own proprietary strain of high CBD -- extremely low THC Extraction Facilities (Labs and Manufacturing), for the development, production and sales of CBD extractions, concentrates and medicines.

Forward Looking Statements:
This news release contains forward-looking statements made by Ramoil Management, Ltd. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward- looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products of the Company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. The Company is not entitled to rely on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 because it is not registered under either Act.

Contact Information

  • Company Contact:
    Timothy Stokes
    Interim President and CEO