Admiral Bay Announces Consolidation of Operations to its Denver, Colorado Office.TORONTO -- Admiral Bay Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ADB (Apple Desktop Bus) A low-speed serial bus for connecting keyboards, mice and other input devices on Apple IIgs and Macintosh computers. Starting with the iMac in 1998, the ADB was superseded by USB. ) announces that it is in the process of consolidating all of its operations to its Denver, Colorado office. The process will be complete by the Annual General Meeting of Shareholders to be held in January 2006, at which time, the Company will have moved the head office to Denver. In addition, Mark Brennan, has resigned as Director, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Chairman of the Board, to pursue other interests. Admiral Bay would like to thank Mr. Brennan for his valuable contribution in the development of the Company to date. During the period when Mr. Brennan was CEO, the Company has grown from a startup venture to a Company with six projects under development, 311 BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter of Proved, Probable and Possible Reserves as cited in Admiral Bay's recent Reserve Report by Questa Engineering of Golden, Colorado and released in a previous news release of October 11, 2005. Steve Tedesco, President of Admiral Bay, has been appointed CEO and Chairman of Board. Mr. Tedesco commented, "We wish Mr. Brennan well in his future endeavors and thank him for helping guide the Company through this first phase of the Company's development". Admiral Bay Resources Inc. (www.admiralbay.com) is an emerging coal bed methane (CBM CBM Commodore Business Machines CBM Coalbed Methane CBM Christoffel Blindenmission CBM Condition Based Maintenance CBM Confidence-Building Measures CBM Curriculum Based Measurement (education) CBM Cubic Meter ) production company focused on the development of projects in the Cherokee Basin in southeast Kansas and the Appalachian Basin, in Pennsylvania. The Company's current gas production is in approximately 1 MMcf/day. Admiral Bay is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol ADB. Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements". The TSX Venture Exchange does not accept responsibility for the ad equacy of this release Admiral Bay Resources Inc. (TSX VENTURE:ADB) |
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