Ria Resources Corp.

October 22, 2010 15:30 ET

RIA Resources Announces Officer Resignation, Officer Appointment and Option Grant

CALGARY, ALBERTA--(Marketwire - Oct. 22, 2010) - RIA Resources Corp. ("RIA" or the "Corporation") (TSX VENTURE:RIA) announces the resignation of John R. MacMillan, as Interim President and Chief Executive Officer of RIA, effective October 20, 2010. Mr. MacMillan will continue as a director of the Corporation. Mr. MacMillan is pursuing other opportunities, and the board of directors would like to thank him for his efforts over the course of his engagement with the Corporation.

The Corporation is pleased to announce the appointment of Kevin James as President, effective October 21, 2010.

Mr. James is an Engineering Technologist with over 27 years of experience in the oil and gas industry. He has extensive operational experience having spent the last 14 years in Calgary as a Senior Completion Technologist for various large and small oil and gas producers. Prior to that, Mr. James worked in the field the where he spent 13 years with several service companies in addition to managing his own oilfield services consulting company.

In conjunction with Mr. James' appointment, the Corporation granted him 100,000 stock options. The options granted have an exercise price of $0.12, and shall vest: (i) 1/3 within 3 months of the date of grant; (ii) 1/3 within 12 months of the date of grant; and (iii) 1/3 within 18 months of the date of grant. The options granted will have a five year term to expiry.

RIA is a company listed and trading on the TSX Venture Exchange, symbol: RIA.

Neither the 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.

Contact Information

  • RIA Resources Corp.
    Glenn Hamilton
    Chief Financial Officer
    (403) 510-0844