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Gold/Mining/Energy : IBI CORP IBIC (CDN)
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To: robert b who wrote (148)10/6/1998 10:59:00 AM
From: Elizabeth A Rice  Read Replies (1) of 422
 
IBIC Press Release OCT 6

President and CEO appointed                                               
                                                                          
Mr. Olav Svela reports
Thomas Smeenk has been appointed as president,  CEO  and  director  of  the company.

Mr. Smeenk has held senior executive positions in the junior mining  sector as  president,  CEO and director of Tyranex Gold Inc., and as president and director of Kirkland Wright Gold Ltd. Mr. Smeenk  has  also  been  a  board member of the United Way.
The company has recruited a particularly strong Ugandan operations team. It includes  Hans  Hansen, on-site general operations manager who was formerly mine manager of a  large  and  successful  African  vermiculite  mine,  and Professor  Peter van Straaten of the University of Guelph. He is one of the world's foremost phosphate agrogeologists. With Garth Jensen recently appointed CFO and now with the addition  of  Mr. Smeenk  to  the  company's senior management it gives the company the bench strength to focus on bringing the phosphate deposit into production. In his new role as president and CEO of IBI Corporation,  Mr.  Smeenk  will
further  develop, plan, and implement the company's business strategy while focusing on the structure and  arrangement  of  financing  for  the  Uganda phosphate/vermiculite   projects.   The  phosphate  deposit  has  a  proven phosphate reserve and a ready market for the finished product in Uganda and
in neighbouring Kenya.
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