IBIC Press Release. #1 of 3 to come
IBI Corporation Thursday, September 24, 1998
register to receive future releases by email from ISDNIBI
Appoints New Directors
IBI CORP ("IBIC-Z;IBIPF-L")- register to receive future releases by email from ISDNIBI- Appoints New Directors
IBI Corporation announced the appointment of Dr. Mark Doidge, M.D.,and Professor Peter van Straaten, Ph.D., to the
Board of Directors. Dr.Doidge and Professor van Straaten are founders of International MiningDevelopment (IMD), a
company that holds the exploration rights to a Ugandanphosphate/vermiculite property in which IBI has a 70%
interest,contingent on IBI's securing development financing.
Edward Lai, Chairman and Chief Executive Officer of IBI said,"the appointments of Professor van Straaten and Dr.
Doidge to theIBI Board of Directors will enrich the Board's knowledge andunderstanding of the phosphate and
vermiculite operations."
In addition, it demonstrates the commitment of the vendors of theUgandan property to both IBI and the development
of the project, he said.
Professor van Straaten is Professor of Agrogeology at the Universityof Guelph. He has done extensive work with the
UnitedNations Economic Commission for Africa, as well as consultingwork with UNDP and UNESCO in Burundi, Lesotho,
Tanzania, Zimbabweand for the Embassy of The Netherlands in Tanzania. Professor vanStraaten is a leading authority
on fertilizers with a specialinterest in phosphates. In Uganda he will direct the developmentand operation of the
phosphate and vermiculite deposits. Hisexpertise in the areas of agrogeology and phosphate fertilizerswill also
greatly assist the Board in future IBI projects.
Dr. Mark Doidge is the founder of Canadian Physicians for Aid andRelief (CPAR). He has 13 years experience in
community development work inAfrica, including organizing and coordinating various forestry, refugee andfood
assistance programs. Dr. Doidge will assist IBI in establishing andoperating the phosphate and vermiculite
projects.
Both Dr. Doidge and Professor van Straaten are excited about thepossibility of bringing the Busumbu/Namekara
operations intoproduction. They have been working diligently on the project formany years and have advanced it to
its present state.
IBI Corporation is a resource-based company with aphosphate/vermiculite mining project in Uganda. It has a
provenreserve of 8.5 million tonnes grading between 11%-15% phosphate,as well as adequate reserves of vermiculite
with which to beginproduction.
IBI Corporation has 177,552,731 shares outstanding.TEL: (416) 868-1079
Olav Svela or Jon W. Kieran, Investor Relations
Hume, Kieran Inc. |
