New Island names Loveys acting CFO

2009-06-26 13:11 ET - News Release

Mr. Harold Wareham reports

New Island Resources Inc., of St. John's, Nfld., has appointed David Loveys as acting chief financial officer, effective June 15, 2009.

Mr. Loveys has over 25 years experience, primarily with Canadian publicly traded companies operating in the domestic and international markets. He held a senior financial position with CHC Helicopter Corp. and prior to that with the NewTel Group of Companies. He is also currently chief financial officer of Cornerstone Capital Resources Inc., a mineral exploration company operating in Canada and Ecuador. He has a bachelor of commerce degree from Memorial University of Newfoundland and qualified as a chartered accountant in 1981. He successfully completed the Investment Dealers Association of Canada, Canadian Securities Course in 1987.

Mr. Loveys's primary role will be to take senior leadership roles in overseeing the transition to international financial reporting standards and New Island's finance department.

"We are delighted to welcome David to the New Island team," said president and chief executive officer, Harold Wareham. "New Island will greatly benefit from David's financial expertise and public company work experience and we look forward to working with him as we move New Island forward."

Lisa Hodge, the former acting chief financial officer, will remain with New Island in the capacity of treasurer and assistant corporate secretary and will continue working in accounting and finance in association with Mr. Loveys.

We seek Safe Harbor.