Canada: Northern Breweries president to resign effective July 12

Bill Sharpe is no longer to be the president of the troubled Northern Breweries as he announced its resignation. "It is with regret that I am writing you to inform you that I am resigning effective Wednesday July 12, 2006 as President and CEO of Northern Breweries Ltd.,” Sharpe said to SooNews July 12.

“This decision, although difficult, was necessary due to the current status of the company which was reported to the Sault Ste. Marie Mayor and Council on June 12, 2006 and to the Sudbury Mayor and Council June 28, 2006. On those occasions I explained that, to this date, the company has been unable to obtain the financing needed to fulfill the business plan that had been undertaken and which content was outlined, in brief, to both cities in October/November of 2004.

On Friday June 30th the Sault Ste. Marie and Sudbury facilities were closed, temporarily, due to the lack of funds needed to operate the business."

Northern Breweries Ltd. Chairman Leo Schotte confirmed Sharpe's resignation.