Richard Parry joins Bimini Capital board as Class II director

Bimini Capital Management, Inc. (OTCQX: BMNM) announced that Richard Parry has joined its board of directors as a Class II director, with his term expiring in 2029.

Parry is the President and Chief Investment Officer of Tom Johnson Investment Management, LLC (TJIM), an 80%-owned subsidiary of Bimini Capital acquired earlier this year. A trust affiliated with Parry retains an equity interest in TJIM, and Parry entered into an employment agreement with TJIM in connection with that acquisition.

As a company employee, Parry will not receive separate compensation for his board service, though he may be reimbursed for out-of-pocket expenses related to conferences or educational seminars. He is not expected to serve on any board committee at this time.

Robert E. Cauley, Chairman and Chief Executive Officer, said in a statement: "We are very happy that Richard has joined our board. TJIM was a very important acquisition for the Company, and his presence on the board demonstrates our commitment to growing and diversifying our asset management endeavors."

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