Northland Appoints Two New Directors
Monday, March 16th, 2009
Northland Resources Inc. is pleased to announce the appointment of Mr. Frode Teigen and Mr. Riulf Rustad to the Board of Northland. Mr. Teigen is a private investor holding 5.9% of the shares of Northland; Mr. Rustad is the Chairman of Zoncolan ASA, which holds 5% of the shares of Northland. The Board of Northland welcomes their contribution, based on their experience, respectively, with international bulk shipping, and finance.
Anders Hvide, Executive Chairman of Northland commented: “I am very pleased that Mr. Teigen and Mr. Rustad have agreed to join our Board. The professional experience that they bring, in the transportation of bulk commodities, as well as finance and portfolio management, is of great value to Northland, at this point in the Company’s development.”
About the new Directors
Mr. Riulf Rustad (46) holds a Bachelor degree in Business Administration from the Norwegian School of Management. He is the Chairman of Zoncolan ASA, a publicly-listed company that trades on the Oslo Axess market. He is an investor and board member of several Norwegian and international companies. His previous positions include CEO of investment management for the Norwegian insurance company Storebrand ASA, and Managing Director of Kistefos. He resides in Oslo, Norway.
Mr. Frode Teigen (47) holds a Bachelor degree in Business Administration from Arizona State University, and an MBA from the University of Denver. He is presently a Director of Naka Racha Ltd in Bangkok, Thailand. He previously held various management positions in the international shipping company Thoresen Thai, until the company was sold in 2005. He resides in Bangkok, Thailand.
For further information visit: www.northlandresourcesinc.com