Toronto, Ontario - October 8, 2013 - Brilliant Resources Inc. (TSX-V: BLT) announced today that it has agreed to a reconstitution of its Board of Directors, which is designed to place the Company in the best position to create long-term value for all its shareholders.
The reconstitution of the Board is the result of discussions between Brilliant and Salida Capital International Limited, Brilliant's largest shareholder. As a result of these discussions, Messrs. Dean Besserer, Sean Mager and Peter Kleespies resigned as directors and three new directors were appointed with the result that Brilliant's new Board of Directors consists of John Williamson, Allan Bezanson, John Hawkrigg and Courtenay Wolfe. Mr. John Williamson will continue as the Chairman and Chief Executive Officer of Brilliant, while Mr. Sean Mager will continue as the Chief Financial Officer, but has elected to step down as a director and as Brilliant's President and Chief Operating Officer.
The new Board will be tasked to conduct a thorough review of Brilliant's overall corporate strategy and the strategic and other alternatives available to it, with a view to implementing that corporate strategy and direction which maximizes long-term shareholder value for the benefit of Brilliant's shareholders.
Biographies of proposed new directors:
-- Allan Bezanson - Since February 2010, Mr. Bezanson has been the Managing Partner of Cornerstone Capital Partners L.P., a Toronto-based investment bank specializing in structuring and facilitating investments in energy, resources and early stage technology sectors. Previously, he was President and Partner at Oballan Capital and Osprey Capital, Chairman of Bluewave Energy, President and Partner at Phoenix Research and Trading, and President of Protec Trading Inc. Mr. Bezanson has also served in senior roles with Nowsco Well Service with significant experience in the Middle and Far East, Europe and North Africa. Mr. Bezanson is also currently a director of Range Energy Resources Inc. (a CNSX listed oil and gas exploration company) and iLOOKABOUT Corp. (a TSXV listed company engaged in the visual and data intelligence business).
-- John Hawkrigg - Mr. John Hawkrigg is the Vice Chairman of HUB International HKMB, the Canadian division of HUB International Limited, a leading global insurance brokerage that provides a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services. John graduated from McMaster University with a Bachelor of Arts degree. John began his career at CIBC, and used that experience to begin his career in insurance as an underwriter, the Territory Director at Wellington Insurance (formerly Fireman's Fund Insurance Company) in Toronto. In 1987, he and business partner Greg Belton purchased Muntz & Beatty Inc., one of Canada's oldest commercial insurance brokerages. In 1994, Muntz & Beatty merged with Guthrie Keilty Bickerstaff and, in 1998, merged with Hunter Rowell Limited becoming Hunter Keilty Muntz & Beatty (HKMB). HKMB grew to become one of Canada's largest privately owned commercial insurance brokerages. The firm joined the HUB International family in January of 2008. John also serves on the board of directors of Currently, John serves on the board of directors of Ferrox Holdings Ltd. (a private holding company of South African companies focused on the development of mineral resources), NexgenRx Inc. (a TSXV listed health benefits management company) and Ebony Resources Inc. (a private company dedicated to bringing a brand-new progressive methodology to the natural resource exploration industry).
-- Courtenay Wolfe - Ms. Wolfe is the former President and CEO of Salida Capital LP where she ran the firm for almost 6 years from early 2008 through until September 2013. During that time, Salida was one of Canada's largest private investment management firms focused on natural resources, with over a billion dollars of assets under administration. During her tenure, Salida's funds won numerous prestigious global performance awards in Canada, Europe and the United States. Prior to Salida Capital, Courtenay was a Partner and Senior Vice President at Tricycle Asset Management, a Canadian alternative investment company. Courtenay joined the firm in 2002 and was instrumental in building Tricycle's assets from under $100 million to over a $1 billion in under 3 years. Courtenay spent the early years of her career in technology before moving into financial services. In 1996, Courtenay founded Dell Canada's online business division. By 1998, she had grown it into a $500 million business and Canada's largest e-commerce business. At Dell, Courtenay was granted the Chairman's award for excellence, for her significant contribution to the development of e-commerce in Canada. Courtenay is currently active in the area of private equity and sits or has sat on various for profit and not-for profit boards. She is currently the Chairman of the Board of Vital Alert Communications. In 2009, Courtenay founded the Salida Capital Foundation, a philanthropic initiative focused on the areas of Food Security and Agricultural Innovation, Women's Rights and Empowerment, and Children's Causes. In 2010 Courtenay established a partnership with the William J. Clinton Foundation for sustainable agriculture and development in Africa. Courtenay recently visited numerous countries in Africa in August 2013 with former President Bill Clinton and Chelsea Clinton including touring the successful work they have done with smallholder farmers in Malawi. Courtenay also sits on the board of ONEXONE, an international charity focused on children's causes. In 2011, Courtenay was recognized as one of the 50 Leading Woman in Hedge Funds in Ernst & Young's global survey. Courtenay is a member of the Young Presidents' Organization (YPO).
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information contact:
Chief Executive Officer
Brilliant Resources Inc.
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