Cathay Forest Announces Appointment to the Board of Directors and Appointment of Consultants
07 May 2011 - 5:03AM
Marketwired
Cathay Forest Products Corp. ("Cathay Forest") (TSX VENTURE:
CFZ)today announces the following changes:
-- Appointment of Dr. Thomas Chan to the Board of Directors
-- Consulting Agreements with Brian Shaw and Dr. Thomas Chan
Appointment of Dr. Thomas Chan to the Board of Directors
The Board of Directors of Cathay Forest is pleased to announce
that Dr. Thomas Chan has agreed to join the Board of Directors
effective immediately. Dr. Chan is the Head of the China Business
Centre, an independent unit within the Hong Kong Polytechnic
University in Hong Kong. Dr. Chan serves as advisor to several
government organization within mainland China and abroad. Dr.
Chan's appointment to the Board fills one of the vacant positions
on the Board of Directors.
Consulting Agreements
In addition to the above, the Company announces that it has
entered in consulting agreements with Mr. Brian Shaw and Dr. Thomas
Chan.
Mr. Shaw is an experienced financial industry executive with
particular expertise in capital markets and investing activities.
He was the Chairman and Chief Executive Officer of CIBC World
Markets from 2005- 2008 and prior to that managed the Global
Equities Division for a number of years. Mr. Shaw has been retained
to review the corporate structure and organization of the Company
and to advise the Directors and senior management on corporate
governance matters.
In addition to his appointment to the Board of Directors, Dr.
Thomas Chan has also entered into a consultation agreement with the
Company to act as an advisor to the Company in matters relating to
its operations.
About Cathay Forest Products
Cathay Forest is a forest products company that manages
approximately 1,000,000 hectares of forest properties in Russia and
China. Cathay Forest's customer base includes the domestic Chinese
pulp and paper industry and other wood products customers in the
Chinese and Japanese markets.
Forward-Looking Statements
All statements, other than statements of historical fact, in
this news release are forward-looking statements that involve
various risks and uncertainties, including, without limitation,
statements regarding the future plans and objectives of Cathay
Forest. Actual results and future events could differ materially
from those anticipated in such statements. Except as required under
applicable securities laws, Cathay Forest assumes no obligation to
update forward-looking statements should circumstances or
management's estimates or opinions change.
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.
Contacts: Cathay Forest Products Corp. Luc Perron, CA Chief
Financial Officer (416) 226-7269 luc.perron@cathayforest.com
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