TORONTO, Nov. 10 /
CNW Telbec/ -
Romarco Minerals Inc. (TSX-V: R) (the “Company“) is pleased to announce the appointment of Mr. Stan Rideout as Sr. Vice President, Chief Financial Officer of the Company, effective November 15, 2010.
Mr. Rideout has over 30 years of senior financial leadership experience in the mining and transportation industries. Mr. Rideout brings extensive senior management expertise in the fields of project financing, corporate restructuring, strategic planning and acquisitions. Mr. Rideout was most recently Executive Vice President and CFO of Swift Corp., one of the largest truckload carriers in North America. Prior to that Mr. Rideout held various positions (Treasurer, Vice President, Division Vice President, and Chief Financial Officer) over 25 years with Phelps Dodge Corporation and Phelps Dodge International, a publicly traded company that was acquired by Freeport McMoRan in 2007. During his tenure with Phelps Dodge, he led a US$22 billion financing commitment for a major acquisition, negotiated US$450 million project financing for an international project and a US$1.1 billion five-year revolving credit facility extension, and integrated the financial and accounting reporting requirements for a US$4 billion mining acquisition.
Diane Garrett, President and CEO of Romarco Minerals Inc. commented: “Mr. Rideout's expertise in project financings, financial leadership and management experience working with a diverse international company will be very valuable to Romarco as we approach the financing and development stage of the Haile Gold Mine as well as begin to strategically grow the Company. We are delighted to have someone of Mr. Rideout's caliber become part of our growing team.“
Mr. Rideout is a registered CPA in Illinois, holds an MBA from the University of Evansville and completed global executive management programs at Thunderbird International School of Management and the University of South Carolina.
Mr. Rideout will be granted 200,000 options in capital of the Company, priced at the closing market price on November 15, 2010, subject to regulatory restrictions. The options have an expiry date on November 15, 2015.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company focused on production primarily in the US. The Company has completed a positive Feasibility study and is continuing exploration drilling and permitting for its flagship project, the Haile Gold Mine in South Carolina.
Please note: This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com.
For further information:
Romarco Minerals Inc.
Diane Garrett, President and CEO
Phone: 210-621-4200
E-mail: dgarrett@romarco.com
Dan Symons, Manager, Investor Relations
Phone: 416-367-5500
E-mail: dsymons@romarco.com
www.romarco.com
Renmark Financial Communications Inc.
Maurice Dagenais
514-939-3989 or via e-mail at mdagenais@renmarkfinancial.com
