Global Railway Industries Ltd. Announces Changes to Board of
Directors
Stock Symbol: GBI.H
Listing: NEX
Outstanding Shares: 15.3 Million
Web Site: www.globalrailway.com
LACHINE, QC, Dec. 14, 2012 /CNW/ - Global Railway
Industries Ltd. (GBI.H: NEX): Global Railway
Industries Ltd. announced today that Thomas
Dea, Laurence Bennett,
Jacques Coté and Alan Sellery have
resigned from Global's board of directors and that Tom Kusumoto, Andrew
Mah, Kenneth MacLeod and
Michael Kuiack have been appointed
to fill the vacancies created by the resignations until the next
annual meeting of Global's shareholders or until their successors
are elected or appointed. All of the new appointees are
independent of Global for purposes of Canadian securities laws.
A brief biography of each of the new directors
is set out below.
Tom
Kusumoto
Mr. Kusumoto is the CEO and President of North
Group Finance Limited, a TSX Venture Exchange listed company that
indirectly owns approximately 25.8% of the outstanding shares of
Global, and a director of BT Europe Biofuels GmbH, a German
investment fund. Mr. Kusumoto has over a decade of experience
with public and private company financings in Canada and Europe. Formerly, Mr. Kusumoto was a
research analyst with Haywood Securities Inc. Mr. Kusumoto
has a Bachelor of Commerce degree in Finance and a Bachelor of Arts
degree in Economics from the University of
Calgary.
Andrew
Mah
Mr. Mah has over 20 years of experience in
financial management and operations, mergers and acquisitions, debt
financings and corporate restructuring. Mr. Mah also has
considerable experience in the capital markets, having served as
director and executive-level manager for several TSX Venture
Exchange listed companies. He is currently a director of
Cavan Ventures Inc., a junior exploration company listed on the TSX
Venture Exchange.
Kenneth
MacLeod
Mr. MacLeod is the CEO of Pan Pacific Power
Corp., a private renewable energy company with hydro-electric power
and geothermal energy projects under development in Asia. Mr. MacLeod has over three decades of
experience in developing resource assets in the United States, Canada, the
Philippines and the Democratic
Republic of Congo, mostly as a senior executive with
Canadian-listed public companies. From 2001 to 2009, Mr.
MacLeod was President and CEO of Western GeoPower Corp, a TSX
listed renewable energy company with geothermal assets in
California and Canada. Western GeoPower Corp. was
acquired by Ram Power Corp. in 2009.
Michael
Kuiack
Mr. Kuiack is the co-founder of BK Capital and
has over 15 years of mergers and acquisitions, investment banking,
management consulting and business development experience
worldwide. Mr. Kuiack holds a Certified Mergers & Acquisition
Advisor (CM&AA) designation and has a Master's Degree in
International Management.
About Global Railway Industries:
Global Railway Industries Ltd. is a public company whose shares are
listed for trading on the NEX Board of the TSX Venture Exchange
under the symbol "GBI.H".
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Global Railway Industries Ltd.