White Tiger Gold Appoints New Chief Executive Officer
ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS -- (Marketwire) -- 05/14/12 -- White Tiger Gold Ltd. ("White Tiger") (TSX: WTG) is pleased to announce that, effective July 18, 2012, Mr. James McBurney will join White Tiger as the Company's new Chief Executive officer.
"Jim McBurney brings considerable commercial, financial and executive resource experience to White Tiger. His leadership and board experience will benefit the Company's current and future development, and in combination with our existing team, he will be important in enabling White Tiger to achieve its goal of becoming a mid-tier gold producer," said Maxim Finskiy, Executive Chairman of White Tiger.
Mr. McBurney is presently CEO of HCF International Advisers (formerly Hatch Corporate Finance) and he has over twenty years of experience with various financial advisory and private equity firms focused on the resource sector. Prior to joining HCF, Mr. McBurney had been CEO of JNR (UK) Limited, a Rothschild family-owned merchant bank with a primary focus on natural resources in the former Soviet Union. Previously, he headed the European Natural Resources investment banking group at Bank of America in London, was a managing director of Merrill Lynch's Energy & Power group in New York and was an executive director of the M&A and Energy & Power groups with Goldman Sachs in New York and London.
Prior to his banking career Mr. McBurney served for five years in the U.S. Marine Corps as both an infantry officer and as a reconnaissance officer. Mr. McBurney has an MBA from Harvard Business School and a BA from Yale College and he currently serves as a non-executive director of both Sears Canada Inc. and RusPetro plc.
Concurrent with Mr. McBurney's appointment as CEO, the Company's current CEO, Mr. Daniel Major, will move to the role of Chief Financial Officer, and the Company's current CFO, Mr. Sergey Chalykh, is expected to take another position within the Company's financial department.
Further to the Company's press release of May 11, 2012 entitled "White Tiger Announces Proposed Loan Transactions and Rights Offering" the Company is also pleased to announce that, following the completion of the Company's proposed loan transactions, it is expected that Mr. Sergey Yanchukov will be appointed to the Company's board of directors. Mr. Yanchukov is currently a creditor and a 13% shareholder of the Company.
About White Tiger Gold
White Tiger Gold Ltd. is a TSX-listed mining and exploration company, focused on the development of mineral resources in Canada, the Russian Federation and Peru.
Caution Concerning Forward-Looking Information
This news release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements") relating, but not limited to, White Tiger's expectations, intentions and beliefs (including, without limitation, statements regarding, the Company's plans to affect changes to its board of directors and its management). Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology are used to identify forward-looking statements. Such statements are based on assumptions, estimates, opinions and analysis made by the management of White Tiger in light of their experience, current conditions and their expectations of future developments as well as other factors which they believe to be reasonable and relevant. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties that may cause actual results to vary include but are not limited to: the Company's decision not to proceed with the proposed board and/or management changes and those risks set out in White Tiger's public documents filed on SEDAR. Although White Tiger believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this press release, and no assurance can be given that such events will occur in the disclosed time frames or at all.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable laws, White Tiger disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although White Tiger believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.