Admiral Bay Announces Results of Annual General and Special Meeting of Shareholders
09 September 2010 - 2:47AM
Marketwired
Admiral Bay Resources Inc. (TSX VENTURE: ADB) ("Admiral Bay" or the
"Company") is pleased to announce that all items on the previously
announced agenda for the Company's Annual General and Special
Meeting were approved by the shareholders. The meeting was held on
September 3, 2010 at the Company's corporate office in Denver,
Colorado.
Directors elected for the ensuing year are Steve Tedesco, Steven
Quoy and Peter Tunkey. Steve Tedesco will become Chairman of the
Board and remain President and Chief Executive Officer. Mr. Tedesco
will be acting CFO until the Company reviews its strategic
alternatives. Mr. Carington will not be continuing on as an officer
of the Company.
Peter R. Tunkey is the owner and President of Buffalo Materials
Handling Corporation. From 1981 to 1998, Peter Tunkey was the owner
and operator of the National Car Rental franchise, representing
four locations in Buffalo and Niagara Falls, NY. Peter more than
doubled the rental business through innovative marketing programs
and strategic pricing. He also developed and successfully launched
several other business ventures that were centered on the
"National" brand, including National Leasing Company, National Car
Sales, National Airport Parking and National Car Care. After
selling the company back to the National corporate office in 1998,
Peter took the role as Vice President of Operations of Employer
Services Corp., a start-up company that rapidly became an INC 500
company. Peter guided the business to profitable, exponential
growth, leading technical and operational initiatives that drove
sales up from less than $1 million to $90+ million. Additionally,
he was individually credited with saving $2+ million in labor
expenses through cost saving initiatives and process improvements.
In 2009, Peter began exploring acquisition opportunities for a
business with strong profit and growth potential. In June of 2010,
Peter purchased Buffalo Materials Handling Corporation, a fork
lift, warehousing and material handling business that has been in
business for over 50 years.
Admiral Bay Resources Inc. (www.admiralbay.com) is an
unconventional gas production company focused on the development of
projects in the Cherokee Basin in southeast Kansas and the
Appalachian Basin in Pennsylvania. Admiral Bay is listed on the TSX
Venture Exchange under the symbol ADB.
Statements in this release that are not historical facts are
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. Readers are cautioned
that any such statements are not guarantees of future performance
and that actual developments or results may vary materially from
those in these "forward-looking statements".
Neither the 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.
Contacts: Admiral Bay Resources Inc. Steven Tedesco President
& C.E.O. (303) 350-1255 (303) 617-8956 (FAX)
stedesco@admiralbay.com
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