NEW YORK, March 10, 2014 /PRNewswire/ -- MFC Industrial Ltd. ("MFC" or the "Company") (NYSE: MIL) is saddened to announce the passing of its director, Robert Ian Rigg, on March 8, 2014. The Company expresses its sincerest sympathies to his family.

Michael Smith, chairman said "We would like to share our heartfelt condolences at this time to his Family. Ian was a valuable member of the board and he provided indispensable guidance to the Company in financial reporting and corporate governance. He will be truly missed."

Mr. Rigg had been a director of our company since 2010 and was the chair of the audit committee and member of the corporate governance committee. Mr. Rigg was a retired accountant and holds a commerce degree in economics and accounting from the University of Melbourne and was a member of the Institute of Chartered Accountants in Canada. He had experience as both a director and chief financial officer of several public companies.

The Company is currently evaluating candidates for consideration for the replacement of the directorship held by Mr. Rigg.

About MFC Industrial Ltd.

MFC is a global commodity supply chain company and is active in a broad spectrum of activities related to the integrated combination of commodities and resources interests. We also provide logistics, financial and risk management services to producers and consumers of commodities. To obtain further information on the Company, please visit our website at: http://www.mfcindustrial.com.

SOURCE MFC Industrial Ltd.