Royal Standard Minerals Inc.
TSX VENTURE : RSM
OTC Bulletin Board : RYSMF

Royal Standard Minerals Inc.

March 05, 2009 09:17 ET

Royal Standard Minerals Inc. Announces Changes to Its Board of Directors and the Suspension of Its Shares From Trading on the TSX Venture Exchange

HEATHSVILLE, VIRGINIA--(Marketwire - March 5, 2009) - Royal Standard Minerals Inc. ("RSM" or the "Company") (TSX VENTURE:RSM) (OTCBB:RYSMF) announces that Mr. James C. Dunlop has resigned as a director of the Company and Mr. Robert N. Granger has resigned as a director and as chairman of the Company's board of directors (the "Board"), effective March 3, 2009. Mr. William Jackson has also resigned as the Company's corporate secretary effective March 3, 2009.

The Company announces the appointment of Mr. J. Allan Ringler as a director to fill one of the vacancies on the Board until the next annual meeting of the shareholders. The Company intends to search for other individuals to fill the remaining vacancies on the Board, the objective being to attract experienced, qualified individuals who can assist the Company in implementing good corporate governance practices going forward.

Mr. Ringler's background with corporate governance and accounting oversight is expected to be of value to RSM. He has 20 years of experience providing corporate and financial services to public companies. Mr. Ringler has been President of Allan Ringler Services Inc. since January 1989 and was previously a partner of Duguay & Ringler Corporate Services, a provider of corporate and financial services to public companies, from January 1989 until February 2006. Mr. Ringler co-founded Equity Transfer & Trust Company ("Equity Transfer"), a provider of transfer agent and corporate trust services, acting as its President from November 2002 to January 2006. He has been a director of Grey Horse Corporation, the parent company of Equity Transfer, since 2004 and is currently Chief Executive Officer, President and a director of GA Capital Corp., a capital pool company listed on the TSX Venture Exchange (the "TSXV"). Mr. Ringler holds a Bachelor of Arts degree from the University of Western Ontario and a Bachelor of Commerce degree from the University of Windsor. He is a Certified Management Accountant and a member of the Institute of Chartered Secretaries and Administrators of Canada.

The Company also announces that its shares have been suspended from trading on the TSXV as a result of the Company's failure to comply with TSXV requirements in a timely manner. With the aforementioned changes taking place on the Board, it is the Company's intention to respond to these requirements and to try to have the suspension lifted as soon as possible; however, there can be no assurance that the Company's efforts will result in the suspension being lifted by the TSXV.

RSM is a natural resource exploration and development company.

C.U.S.I.P. # 780919106

LISTED: STANDARD & POORS

Neither TSX Venture Exchange nor its Regulation Service 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

  • Royal Standard Minerals Inc.
    Roland Larsen
    (804) 580-8107
    (804) 580-4132 (FAX)
    Website: Royalstandardminerals.com