Trading Symbol: RRO - TSX-V
Shares Outstanding: 112,127,490
HALIFAX, May 28 /CNW/ - Royal Roads Corp. (RRO-TSX-V) ("Royal Roads" or "Corporation") is pleased to announce the appointment of Ms. Teri Anderson, MBA, CA, as its Chief Financial Officer ("CFO").
Ms. Anderson holds an MBA from Dalhousie University, a Chartered Accountant designation, and a B.Sc. (Biology) from Acadia University. Ms. Anderson has been providing financial consulting services to private and public companies since 1999, after five years as a senior financial manager at Nova Scotia Power, a TSX-listed energy company, and five years in public accounting practice with Ernst & Young.
Effective immediately, Ms. Anderson will assume the role of CFO, replacing Ms. Stacey Stone, who resigned as CFO of the Corporation effective April 30, 2010. Ms. Anderson was granted 250,000 incentive stock options, exercisable until May 28, 2015 at $0.10 per share, 25,000 of which vested immediately and the balance to vest in equal monthly installments over 12 months.
Mr. Warren MacLeod, President of Royal Roads states that, "I would like to extend a hearty welcome to Teri on behalf of the Board and the rest of the Royal Roads team and look forward to working together to develop an active and thriving company."
Royal Roads also announced that the exercise price of the 5,100,000 options granted to 10 officers, directors and employees of the Corporation on May 10, 2010 was $0.10 per share, not $0.07 per share as indicated in its news release issued May 11, 2010.
About Royal Roads
Royal Roads is a resource company based in Atlantic Canada and is primarily focused on exploring and developing mineral properties in the famous historic Buchans mining camp in central Newfoundland, Canada.
Neither 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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE ROYAL ROADS CORP.
For further information: For further information: Royal Roads Corp.: Warren MacLeod, President & CEO, Windsor, Nova Scotia, (902) 472-3520; Paul Moore, VP Exploration, St. Johns, Newfoundland, (709) 738-7384; www.royalroadscorp.ca