| ||October 22, 2013|
MBMI Announces Change of Management and On Board of Directors
| ||Richmond Hill, Ontario October 22, 2013 -- MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX-V: MBR) announces that on October 18, 2013, John Hoi Charm Wong and Sam Yim Chiu Kwan resigned as members of MBMI's Board of Directors and as President and CEO and as Chief Financial Officer, respectively, of the Company. The Board of Directors of MBMI has appointed Joseph Shuen Chuen Chan as interim President and Chief Executive Officer of the Company, and Ming Shun Cheng as interim Chief Financial Officer of the Company.|
Both Mr. Chan and Mr. Cheng are Executive Directors of Harmony Asset Limited ("Harmony"), a Hong Kong based company whose shares are listed on the Hong Kong Stock Exchange. Harmony is also a significant holder of shares and other securities of MBMI through its subsidiary, Gwynneth Gold Limited.
Mr. Chan is currently a member of the Board of Directors of MBMI. He obtained his MBA degree from Heriot-Watt University, Edinburgh Business School, Scotland, UK. Mr. Chan has over 30 years of accounting and management experience in the fields of industrial manufacturing, the service industry, academia and government. Professionally, Mr. Chan is an associate member of The Institute of Chartered Accountants in England and Wales, a Fellow member of the Hong Kong Institute of Certified Public Accountants, a member of the Association of Chartered Certified Accountants and the Chartered Institute of Management Accountants, as well as a member of the Certified General Accountants Association of Canada. In addition to serving on the Board of Directors of Harmony and MBMI, Mr. Chan serves as a director of Medifocus Inc., a TSX Venture Exchange listed company.
Mr. Cheng holds a Bachelor's degree in Business Administration with Honours from The University of Bolton (formerly known as Bolton Institute). Professionally, Mr. Cheng is a fellow member of Institute of Financial Accountants, United Kingdom. He has over 20 years of experience in management accounting, corporate administration and financial management. In addition to serving as an Executive Director of Harmony, he also serves as the Chief Financial Officer of that company. He is also a director of a number of subsidiaries of Harmony.
Management of MBMI confirms that it is working diligently towards the completion and filing of the audited financial statements of MBMI for the year ended January 31, 2013, and the completion and filing of the Company's interim financial statements for the quarters ended April 30, 2013 and July 31, 2013, all in an effort to expedite the termination of the cease trade order currently in force in Canada regarding MBMI.
For further information relating to the Company, please refer to the Company's website at www.mbmiresources.com or contact Joseph Chan, by telephone at +1 (647) 299-9203 or by email at firstname.lastname@example.org
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