Stock Symbol: GBI.H
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
A brief biography of each of the new directors is set out below.
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.
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.
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
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.
For further information:
President & CEO
Tel: 514-634-6224 ext. 136
Vice President & CFO
Tel: 514-634-6224 ext. 136