Arcan Resources Ltd. has appointed Mr. Lorie Waisberg and Mr. Henry Cohen to the Board of Directors of the Company, and has appointed Mr. Waisberg as Chairman of the Board of Directors. The anticipated appointment of Messrs. Waisberg and Cohen to the Board was announced previously in connection with the recent transaction pursuant to which all of Arcan's outstanding convertible debentures were exchanged for common shares. Their appointments coincided with the resignations of Michael Laffin and Robert Dales as directors.
Mr. Waisberg holds law degrees from the University of Toronto and Harvard University and had a distinguished 30 year career as a business law partner of Goodmans LLP in Toronto. This was followed by direct business experience as Executive Vice President, Finance and Administration of steel producer Co-Steel Inc. prior to retirement. Mr. Waisberg has served on the boards of directors of numerous Canadian public companies. He currently serves as a trustee and chair of Chemtrade Logistics Income Fund and a director of Tembec Inc. and Scorpio Mining Corporation.