|By Marketwired .||
|August 30, 2013 03:44 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 08/30/13 -- FIRST BAUXITE CORPORATION ("First Bauxite" or the "Company") (TSX VENTURE:FBX)(FRANKFURT:FBI)(BERLIN:FBI) is pleased to announce that Larry Washow has been appointed Interim Chairman of the Board of Directors of First Bauxite succeeding John Hicks. The Company thanks Mr. Hicks for his contributions and wishes him well in his future endeavors.
Mr. Washow will also continue in his role as a member of the Audit Committee, Corporate Governance and Nominating Committee and Human Resources and Compensation Committee of the Company. He will also continue to hold the role of a Director at Oil-Dri Corporation of America and Eudora Global.
Mr. Washow has over 20 years of proven leadership of diversified global manufacturing and distribution enterprises. He has senior management experience working with both public and private companies in corporate finance, strategic planning, financial reporting and mergers and acquisitions. He has previously held a number of senior management roles, including President and Chief Executive Officer of AMCOL International, a mining company, until 2010.
About First Bauxite
First Bauxite Corporation (TSX VENTURE:FBX) is a Canadian natural resource company engaged in the exploration and development of bauxite deposits in Guyana, South America. The Company has its head office in Toronto and is managed by experienced geoscientists and business development professionals with worldwide experience in the exploration and mining business across a number of mineral commodities. The mission of First Bauxite is to become a near term, medium size producer and supplier of high quality refractory grade sintered (calcined) bauxite. For further information on First Bauxite Corporation, please visit our corporate website at www.firstbauxite.com.
On behalf of The Board of Directors of First Bauxite Corporation
Hilbert N. Shields, President & CEO
Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "developing", "will", "move forward", "next", "obtaining", "constructing" and similar expressions. These statements include, but are not limited to, statements regarding the continued advancement of the Bonasika Bauxite Project. These forward- looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, the effect of capital market conditions and other factors on capital availability; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined and other risks more fully described in the Company's Management Discussion & Analysis of Financial Position and Results of Operations, which is available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
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.
First Bauxite Corporation
Hilbert N. Shields
President & CEO