MONCTON, NB, Feb. 3 /CNW/ - Landdrill International Inc. (TSX.V:LDI) is
pleased to announce the appointment of Mr. John Martin and Mr. Frank Smeenk to
its Board of Directors.
John Martin currently of Miramichi, New Brunswick has a B.A.Sc. from the
University of Toronto. He is a registered professional engineer with over 38
years experience in the mining industry, with much of it managing and
operating both open-pit and underground mines and the related processing
facilities. Since 2004, John has been the Chief Operating Officer for Blue
Note Mining Inc., a Montreal Quebec based mining company. He is responsible
for establishing Blue Note as a mine developer and operator and he was
instrumental in the re-opening of both the Caribou and Restigouche mines in
Northern New Brunswick.
John has also served as General Manager for Arvin Special Machinery Ltd.
located in Miramichi, New Brunswick where he contributed to the growing
industrial and contract precision machining business. He worked 29 years with
Noranda Mines Inc., the last 10 years being in a senior management role as the
General Manager of Brunswick Mine in Bathurst New Brunswick and as the General
Manager at Heath Steele Mines in Miramichi New Brunswick. Over the years John
has earned recognition for safety performances, lead the implementation of
margin improvement and quality management programs, ISO 9001-2000 management
systems and has experience with both start-ups and re-engineering.
Frank Smeenk of Kleinburg Ontario is the CEO of Fletcher Nickel Inc. and
is one of its co-founders. He has extensive experience serving on the Board of
Directors of several public companies in the resource sector. Frank completed
the Canadian Securities Course and obtained his B.A from the University of
Western Ontario in 1971. He later obtained his LL.B in 1974 and was called to
the Bar in 1976. Currently he is also the President and CEO of KWG Resources
Inc., and its subsidiary Debuts Diamonds Inc.
Frank has served as the Chairman of MacDonald Mines Exploration Ltd.,
which discovered and developed the Golden Hill gold deposit in Cuba. Prior to
that, he was Executive Director of Deak Resources Corporation after it
acquired from him the Kerr-Addison gold mine. As an Officer of Deak
International he acted in a series of International acquisitions including the
purchase of Johnson Matthey Commodities from the Bank of England. Formerly the
managing partner of a London, Ontario law firm, Frank has been a Director and
Officer of companies such as: Northfield Capital Corporation, Nuinsco
Resources Ltd., NFX Gold Inc., MacDonald Oil Exploration Ltd., Genoil Inc.,
Armistice Resources Ltd., Perrex Resources Inc. and Conquest Resources Ltd.
The Company also reports its acceptance of the resignation of a director,
James Day of Lewiston Maine.
Ron Goguen Sr., the President and CEO of Landdrill said, "The Company is
pleased to welcome John & Frank as independent directors of the Company. Their
experience and knowledge in the both mining industry and with other publicly
traded companies is a great asset to Landdrill and we look forward to working
closely with both of them. Also on behalf of Landdrill I would like to thank
James Day for his contribution to our team."
The Company also announces that the inventory acquired from Forage M.
LaFreniere Inc. ("FML") exceeded the parties expectations and accordingly the
Company has adjusted the purchase price by $720,000, thereby completing the
July 28, 2008 acquisition of FML's drilling business (this amends the
previously disclosed purchase price from $5.4 to $6.1 million). The Company
has provided a non-interest bearing promissory note for the full $720,000,
repayable over a three year period.
Landdrill is a growth oriented international drilling company with a
focus on the metals and minerals industry. The Company continues to explore
opportunities for growth in key markets, either through establishment of new
branch offices or through acquisitions as opportunities arise. The Company has
31 drills with operations in Canada, Mexico, Russia and Mongolia.
For detailed information on Landdrill International Inc., or to request a
bid submission for your project worldwide, please visit our website at
Caution Concerning Forward Looking Statements
This press release includes certain statements that would be deemed
"forward-looking statements". These statements are "forward-looking" because
they are based on current expectations, estimates and assumptions about the
markets the Company operates in, the world economic climate as it relates to
the mining industry, the Canadian economic environment and the Company's
ability to attract and retain customers and to manage its assets and costs.
Actual results could differ materially from expectations if known or
unknown risks affect the business, or if estimates or assumptions turn out to
be inaccurate. The Company does not guarantee any forward-looking statement
will materialize and, therefore, investors are cautioned not to place reliance
on these forward looking statements. The Company disclaims any intention to
update or revise any statement of forward-looking information whether as a
result of new information, future events or otherwise.
On behalf of the Board of Directors,
Ronald Goguen Sr.
President and Chief Executive Officer
Landdrill International Inc.
(506) 388 - 8961
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information:
For further information: Ronald Goguen Sr., President and Chief
Executive Officer, Landdrill International Inc., (506) 388-8961