Jemi Fibre Appoints Michael Ainsworth President/CEO and Announces Financing
Vancouver, British Columbia--(Newsfile Corp. - September 11, 2013) - Jemi Fibre Corp. (TSXV: JFI) (the "Company" or "Jemi Fibre") is pleased to announce that Michael Ainsworth has been appointed CEO and President of the Company. Mr. Ainsworth replaces Mike Jenks who will continue as Chairman and with the same extensive operational role with the Company. Mr. Ainsworth has also been appointed to the board of directors of the Company.
Mr. Ainsworth has more than 25 years of operational, management and executive level experience within the forest products industry, having played an extensive senior executive management role at Ainsworth Lumber with responsibilities over managing large green field construction projects, timberlands, marketing, transportation, business development, finance and human resources. Mr. Ainsworth was instrumental in building the team that successfully transitioned Ainsworth Lumber from a privately owned enterprise to a publicly traded company, which raised hundreds of millions of dollars in capital and had revenues in excess of $1.2 billion.
Jemi Chairman Mike Jenks commented, "I am pleased to welcome Michael to his new position of CEO and President of Jemi. Michael brings not only tremendous personal experience in the British Columbia and North American-wide forestry business, but also a rich and long family tradition in this industry. Michael provides Jemi with the operational and mill management experience to successfully execute its growth strategy."
The Company is also pleased to announce that it has engaged Salman Partners as agent to undertake a brokered private placement to raise up to $6,500,000 in capital.
ON BEHALF OF THE BOARD OF DIRECTORS
JEMI FIBRE CORP.
For further information, please contact:
Brent Lokash, EVP
Tel: 1 604 428-1075
About Jemi Fibre Corp.
Jemi Fibre Corp. is engaged in commercial forestry, including logging operations and timber supply. The Company's expansion plans focus on private timber land ownership and acquisition of under-utilized forestry manufacturing assets.
Special Note Regarding Forward-Looking Statements
Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding future results and the development and operation of Jemi Fibre's business. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management team of Jemi Fibre, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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 news release.