The Silver Recycling Company Inc.
NEX BOARD : TSR.H

The Silver Recycling Company Inc.

May 07, 2008 20:05 ET

The Silver Recycling Company Inc.: Senior Management Team Broadened to Accelerate Growth

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2008) -

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The Silver Recycling Company Inc. ("Silver Recycling") (NEX:TSR.H) is pleased to announce the appointment of Mr. Don Holmstrom, CA, as President and Chief Executive Officer effective May 5, 2008. Mr. Holmstrom will lead senior management in securing financing to close the acquisitions of the initial consolidation targets and facilitating the integration of those acquisitions.

Mr. Sidney Stern, founding President and CEO, has moved up to Executive Director with the Board of Directors to enable him to spend more time working on the broader issues facing the company. Mr. Stern stated, "This is an exciting time for the company and the right time for Don to step into this role. I look forward to supporting both him and the Company from my new position on the Board. We are fortunate to have someone like Don with the experience to step in as we broaden all our capabilities."

Mr. Holmstrom is a chartered accountant and brings a wealth of knowledge to the position, having closed over 140 acquisitions in his senior role with Loewen Group. In his more recent experience as co-founder of the start-up of Eaglequest Golf, the company raised $60M in capital and successfully completed 20 acquisitions in 18 months. Following the sale of Eaglequest to new owners, he grew the operating side of the business and became both COO (2000) and then President/COO (2001 through 2007) before joining Silver Recycling in 2007 as the Vice President, Financial Operations.

Completion of the transaction is subject to a number of conditions, including TSX Venture Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement prepared in connection with the transaction, any information released or received with respect to the Change of Business may not be accurate or complete and should not be relied upon. Trading in the securities of Silver Recycling should be considered highly speculative.

About 'The Silver Recycling Company Inc.'

Silver Recycling is seeking to consolidate privately-owned silver and other precious metals recycling companies. Silver Recycling is continuing to review other candidate companies within the precious metals recycling industry for acquisition and integration in alignment with the Company's business strategy.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept any responsibility for adequacy or accuracy of this release.

Contact Information

  • The Silver Recycling Company Inc.
    Don Holmstrom CA
    President & CEO
    (604) 688-3011
    (604) 687-6942 (FAX)
    Email: dholmstrom@silver-recycling.com
    or
    The Silver Recycling Company Inc.
    #501 - 321 Water Street
    Vancouver, B.C., Canada V6B 1B8
    (604) 688-3011