TSX VENTURE: RRX
CALGARY, Aug. 25 /CNW/ - Gordon Turner, President & CEO of Ruby Red
Resources Inc. ("Ruby Red" or the "Company") is pleased to announce the
appointment of Richard W. Grayston as Vice President Finance and Chief
Financial Officer ("CFO").
Subject to TSX Venture Exchange approval, Richard W. Grayston will be
replacing James Scott, C.A. as CFO effective immediately. On behalf of the
Company, Mr. Turner would like to thank Mr. Scott for his financial leadership
over the past three years. Mr. Scott will remain a director of the Company and
continue as chairman of the audit committee.
Mr. Grayston has a Ph.D. in Finance and Economics (University of Chicago,
1971), an MBA (University of Chicago, 1969), and a Bachelor of Commerce
(University of British Columbia, 1966) and became a Certified General
Accountant in 1977. Since 1985, Mr. Grayston has been a self-employed business
consultant in financial and economic consulting and public company management.
His consulting activities have included preparation of valuations, feasibility
studies, capital budgeting, financial reorganizations, profit improvement
studies and business plans. Mr. Grayston has provided his consulting services
to mineral exploration, oil and gas, technology, manufacturing, retail and
wholesale consumer businesses.
Mr. Grayston has been an officer or director of a number of TSX Venture
and NASDAQ listed companies. Currently, Mr. Grayston is the Chairman of the
Board and Director of Xtra-Gold Resources Corp. ("XTGR"-OTCBB) and a director
of Ranger Canyon Energy Inc. (a reporting issuer in Alberta and Ontario).
Ruby Red was formed to participate in the acquisition, exploration and
development of mineral claims in the Fort Steele Mining Division of British
Columbia for the purpose of exploring for precious and base metals. Ruby Red
holds 100% working interests in 144 mineral claims (approximately 44,000
hectares), all located within 80 kilometres of Cranbrook, B.C. in the Purcell
and Rocky Mountains.
Except for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of applicable
securities law. Forward-looking information is frequently characterized by
words such as "plan", "expect", "project", "intend", "believe", "anticipate",
"estimate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
anticipated in the forward-looking statements, which include but are not
limited to risks inherent in the mining industry, regulatory and economic
risks, and risks associated with the Company's ability to implement its
business plan. The Company undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions should
change except as required by law. The reader is cautioned not to place undue
reliance on forward-looking statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED, AND DOES NOT ACCEPT
RESPONSIBILITY FOR, THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: Randall Tronsgard, Vice-President, Corporate
Development of Ruby Red, at (403) 770-1346, 1-866-257-4337, or e-mail: