TORONTO, May 5 /CNW/ - DRM Ventures Inc. ("DRM") (TSX-V:DRM.P) announced today that the planned
transition of Nitin Kaushal from its board of directors has been
completed with his resignation today.
"Mr. Kaushal's plan to retire from the DRM board was previously
disclosed in February. He agreed to continue to serve to facilitate the
orderly transition of the board, which has now been accomplished," said
Amin Khalifa, chairman of DRM. "He has been a great asset to the board
of directors of DRM, and we wish him well," Mr. Khalifa continued.
DRM's board now consists of Mr. Amin Khalifa, Mr. Gordon McCauley, and
Mr. Edward Dooling. The board will continue to exist in its current
configuration with three members.
The TSX Venture Exchange Inc. has in no way passed upon the merits of
the proposed transaction and has neither approved nor disapproved the
contents of this press release. 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.
This news release may contain forward-looking statements that are based
on DRM's expectations, estimates and projections regarding its business
and the economic environment in which it operates. These statements are
not guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. Therefore,
actual outcomes and results may differ materially from those expressed
in these forward-looking statements and readers should not place undue
reliance on such statements. Statements speak only as of the date on
which they are made, and DRM undertakes no obligation to update them
publicly to reflect new information or the occurrence of future events
SOURCE DRM Ventures Inc.
For further information:
Chief Executive Officer
DRM Ventures Inc.