News Press release from Marketwire
Peat Resources Limited: Appointment of Dr. Samuel Peralta to the Board of Directors
Wednesday, March 16, 2016
Peat Resources Limited: Appointment of Dr. Samuel Peralta to the Board of Directors
07:30 EDT Wednesday, March 16, 2016
TORONTO, ONTARIO--(Marketwired - March 16, 2016) - Peat Resources Limited (the "Company") (TSX VENTURE:PET) is pleased to announce the appointment of Samuel Peralta, PhD., to the Board of Directors.
Dr. Peralta currently serves on the Board of Directors of the Organization of Canadian Nuclear Industries; and of Windrift Bay, a developer of new media properties. Previously, he served on the Board of POET Technologies, where he was a founding director; OPEL Solar, the photovoltaic subsidiary of POET; Axiom NDT, a nuclear inspection services firm; Envergence, which provided due diligence in the high technology sector; and Qvadis, a software developer in the handheld mobile devices space.
Patricia Mannard, Chairman and CEO of the Company: "We look forward to Dr. Peralta's input based on his extensive experience as a director during pivot situations in the energy and high-tech industries."
Subject to regulatory approval, Dr. Peralta will be granted 600,000 options with an exercise price of $0.05 over a period of five years as per the Company's approved Stock Option Plan.
Concurrently, the Company announces the resignation of Robert Wright from the Board. Mr. Wright avidly served on the Board in a number of capacities over the past nine years.
"We will certainly miss the enthusiasm that Mr. Wright brought to the Board as he shepherded the Company through what has been a challenging period for the junior resource sector."
Peat Resources Limited was formed to commercialize peat fuel and bio-carbon derivatives as a sustainable resource. As a consequence of the competitive energy environment, the Company is currently re-examining its business focus with intent to deliver recommendations to shareholders as appropriate, and an overview at its upcoming Annual General Meeting.