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| | April 14, 2010
Arco Appoints New Chief Financial Officer
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| | April 14, 2010: Vancouver, B.C.: Arco Resources Corp. (TSX-V: ARR) ("Arco" or the "Company") is pleased to announce that Mr. Simon J. Anderson, C.A., has agreed to be appointed as Arco's Chief Financial Officer, subject to TSX Venture Exchange approval.
Mr. Anderson is a Chartered Accountant with a range of experience as an officer and director of public companies in Canada and abroad, having acted as an officer or director of companies listed on the TSX, TSX Venture Exchange, American Stock Exchange and the OTC market. He articled with Collins Barrow, Chartered Accountants and subsequently moved to BDO Dunwoody where he specialized in business and securities valuations. For the last ten years, Mr. Anderson was a principal of MCSI Consulting Services Inc. where he helped develop the financial strategies and operations of public companies. Mr. Anderson is the Chief Financial Officer of Tsar Emerald Corporation, owner of the world's largest emerald mine and the largest beryllium deposit in the Russian republic.
Jeff Sheremeta, Arco's current Chief Financial Officer, will step down to make way for Mr. Anderson's appointment. Mr. Sheremeta will remain as Arco's Corporate Secretary, and will assume the new title of Vice-President.
Grant of Stock Options
Arco also wishes to announce the grant of incentive stock options to certain directors, officers and consultants of the Company to purchase up to 600,000 common shares in the capital stock of the Company pursuant to an approved share option plan. The options are exercisable at a price of $0.10 per share on or before April 14, 2015, subject to the approval of the TSX Venture Exchange.
About Arco Resources
Arco holds a 100% interest in seven mineral claim blocks, all located in the State of Oaxaca, Mexico. The Company has begun to focus its efforts on its Taviche and Predilecta claim blocks, each of which has had historical production of gold and silver. The Company currently has agreements in principle to option 100% interests in its Lachiguiri, Silacayoapan and Nino Perdido Property (to Silex Ventures Ltd.) and in its Tres Hermanas Property (to Zodiac Capital Ltd.).
For further information on the Company please go to www.arcoresources.com, or contact Ian Tootill, Director of Investor Relations, 604 639 2866 ext 110. or at ian@arcoresources.com. Follow Arco on Facebook.
On behalf of the Board of Directors of Arco Resources Corp.
"Warren McIntyre"
Warren McIntyre
President and Chief Executive Officer
Arco Resources Corp. |
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