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Abstract
(Marketwire - Nov. 1, 2012) - Resinco(R) Capital Partners Inc. ("Resinco") (TSX:RIN)(FRANKFURT:L6V) today announces that it has introduced a number of initiatives to reduce costs and streamline its corporate administration organization and cost structure. The strategic business decision to outsource "back-office" functionality is driven by a need to lower operating costs due to the depressed state of the junior resource market sector in which Resinco operates. Outsourcing company finance and corporate compliance functions will result in an annualized net reduction in costs of approximately $300,000. Commenting on these initiatives Mr. John Icke, President and CEO, stated, "This cost saving program is a sub-set of a much broader range of cost reduction initiatives which commenced earlier in the summer of 2012."
Commenting on the selection of Ms. [Doris Meyer] and Golden Oak Corporate Services Ltd., Mr. Icke stated: "Resinco is fortunate to be able to engage Doris and her team. She and her organization are well versed in the junior resource sector and we look forward to working with them."