TSX-V: PCT
VANCOUVER, Sept. 13, 2011 /CNW/ - Prima Colombia Hardwood Inc. (TSXV: PCT) ("Prima" or the "Company") is pleased to announce two appointments to its executive team. Canon Fung has been named Chief Financial Officer and Juan Pablo Cabal has been named President of Prima's Colombian subsidiary, REM International C.I.S.A. ("REM").
Mr. Fung brings over 20 years of finance and management experience to the Company. Prior to joining the Company, Mr. Fung held senior financial positions with MacDonald, Dettwiler and Associates Ltd., and was a Principal Consultant with PricewaterhouseCoopers in Vancouver, British Columbia and Hong Kong. Mr. Fung holds a Bachelor of Commerce degree from the University of British Columbia and is a Chartered Accountant.
Mr. Cabal is a seasoned executive with extensive governmental experience including in respect of permitting and exports. Prior to joining REM, Mr. Cabal was President of CIAMSA, an organization owned by the Colombian sugar producers responsible for the marketing and logistics of sugar exports for the owners. Mr. Cabal was formerly the Deputy Minister in the Colombian Ministry of Defence. Mr. Cabal holds a Bachelor of Economics from the University of the Andes and a Masters of Economics in International Trade and Finance from the American University in Washington D.C.
"We are very pleased to have attracted such talented executives to our team." commented Prima CEO, Donald Hayes. "We are confident that the appointment of Mr. Cabal as President of REM with his Colombian experience, knowledge and expertise in government and regulatory matters will assist Prima in securing the necessary permits in a timely fashion."
Prima also announces that pursuant to the Company's Stock Option Plan, a total of 3,110,000 incentive stock options have been granted to the new executives, existing employees and consultants of the Company. The options are exercisable at a price of $0.10 per share for a period of 10 years expiring on September 13, 2021.
About Prima Colombia
Prima Colombia Hardwood Inc. is a TSX Venture Exchange-listed Canadian based forest products company focused on international tropical hardwood timber development, production and marketing. Prima Colombia's initial operations are located near Bahia Solano, Department of Choco on the west coast of the Republic of Colombia. All Prima forestry concessions are intended to be operated following the highest standards of sustainable forestry and environmental management. Prima brings over 30 years of forestry experience and dedication to best environmental operating practices and working with local communities and governmental agencies.
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