ELKO, NV, Nov. 22 /CNW/ - Galway Resources Ltd. (GWY: TSX-V) (or the
"Company") is pleased to announce the addition of Mr. Pablo Orsolani as the
Chief Financial Officer and he will also join the Board of Directors. Mr.
Orsolani has 28 years experience in international business, spanning the
United States, Japan, Europe and Latin America. Mr. Orsolani started his
career as a management consultant with Arthur D. Little, Inc. U.S.A., later
taking positions in marketing, planning, finance and general management in
several industries, including commodities (aluminum, nickel and oil) and
specialty chemicals (industrial gases, paint).
"We are delighted to have Pablo join the team and he compliments our team
quite nicely. I enjoyed working with Pablo years ago in Venezuela, where Pablo
played a crucial role in the successful commercialization of a nickel project.
He has abundant talent, an extensive network, and a strong track record in
building companies. His expertise in securing long-term energy contracts and
off-take agreements for several different projects and commodities will
certainly be of use as we continue to advance our projects," states Robert
Hinchcliffe, CEO of Galway Resources.
Mr. Orsolani was the Chief Financial Officer of a nickel project owned by
Jordex Resources, a Toronto Stock Exchange listed company, which was sold to
Anglo American for $65 million. The project is now a producing nickel mine in
Venezuela. Mr. Orsolani was also the President of an industrial gas company
that had over 400 employees and had an investment program in the hundreds of
millions of dollars.
Mr. Orsolani has also served as a member of the board of directors of
several industrial companies, including a United States based aluminum
extrusion company with sales of $250 million and a primary aluminum company
with sales of $400 million. He was also a board member of an electric utility
with 13,000 MW of installed capacity.
Mr. Orsolani holds a Mechanical Engineering degree from Universidad Simon
Bolivar, Caracas, Venezuela; he also holds two masters' degrees from
Massachusetts Institute of Technology (MIT), an MBA from the Sloan School and
also a Master of Science in Mechanical Engineering. Mr. Orsolani is fluent in
English and Spanish.
The Company would like to thank Chris Park who has been the acting Chief
Financial Officer for the past two years.
About the Company
The Company is well capitalized with over $11 million in the treasury.
Management is focused on developing three U.S. based exploration projects that
are favorably located and have over 300,000 feet of historical drilling. We
have established a solid technical team that is compiling all the historical
data and are now advancing these projects in an aggressive but cost effective
manner. Management believes that its strategic portfolio of properties offers
investors an interesting exposure to a unique blend of commodities.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Forward Looking Statements:
Some statements in this news release contain forward-looking information.
These statements include, but are not limited to, statements with respect to
the completion of transactions, the timing and amount of payments and share
issuances, the completion of financings, the use of proceeds, future
exploration, development and production activities and future expenditures.
These statements address future events and conditions and, as such, involve
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially different from
any future results, performance or achievements expressed or implied by the
statements. Such factors include, among others, the ability to complete
contemplated transactions, payments, share issuances and financings, the use
of proceeds, the time and success of future exploration, development and
production activities and the timing and amount of expenditures.
For further information:
For further information: Galway Resources Ltd., Robert Hinchcliffe,
President and Director, 1-800-475-2412