Reliance assigns Clark to enhance North American presence

By Ruli Setiawan

TSX-listed Reliance Resources Ltd. announced that Nicholas Clark has been appointed to the role of President of the company focusing in strengthening its engagement with investors in North America as part of the company's ongoing investor relations program.

Clark, who is currently Reliance's Chief Financial Officer and Head of Corporate Affairs, will officially relocate to North America in late March.

Clark is a qualified lawyer with significant experience operating in Indonesia as well as North America, gained from working and living in both the countries, specifically within the investment banking fields particularly in mergers and acquisitions.

Clark also possesses extensive experience in financial and capital markets across North America and other jurisdictions.

It said that Clark will continue to be supported by the Company's Indonesian technical team, and will be integral in re-enforcing Reliance's planned operational milestones amongst key players in the North American capital markets.

The Board of Reliance also confirms that Gary Lewis will step down as Chief Executive Officer of the Company and remain in the role of Non-Executive Chairman.

"This is a great opportunity to lead Reliance and unlock the value in the Company's Indonesian assets through supporting the Company's corporate growth strategy," Clark said.

"We also want to capitalise on our status as a Main Board TSX-listed company, which presents us with a number of opportunities. Our Tanoyan Project in particular is delivering encouraging exploration results, and we are focused on continuing to develop this asset."

Editing by Adianto P. Simamora