UrbanGold Announces Resignations of Directors and Officers and Appointment of Interim Chief Executive Officer and Director
2019年2月9日 - 7:22AM
UrbanGold Minerals Inc. ("
UrbanGold" or the
"
Company” | TSXV: UGM) announces that Trevor
Richardson has indicated his intention to resign as Chief Executive
Officer and a director of the Company, Laurie Meloche has resigned
as Vice-President, Corporate Development and a director of the
Company, and Peter Cashin has resigned as a director of the
Company. Sabino Di Paola, Chief Financial Officer, Secretary and a
director of the Company, has been appointed as Interim Chief
Executive Officer until such time that a new Chief Executive
Officer is appointed. In addition, Dale Burstall has been appointed
as a director of the Company. The Company wishes to thank Mr.
Richardson, Ms. Meloche and Mr. Cashin for their services, in
particular for their efforts in connection with the Company's
initial public offering, and wishes them success in their future
endeavors.
UrbanGold has recently completed an IPO and
financing. Of funds raised and following payment of all IPO costs,
the Company currently has funds available in the amount of
approximately $328,000 to pay administrative costs. Both
Laurie and Trevor are entitled to severance payments which will
reduce the available funds. The Company has also reserved
$1,400,000 for mineral exploration in Quebec. Exploration is under
the guidance of Mathieu Stephens, VP Exploration.
About UrbanGold
UrbanGold is incorporated under the federal laws
of Canada and has its principal office in Ottawa, Ontario, Canada.
The Company is engaged in the evaluation, acquisition and
exploration of mineral properties in Canada, and its current focus
is Quebec. The Company plans to ultimately develop the properties,
bring them into production, option or lease the properties to third
parties, or sell the properties outright. The Company has not
determined whether these properties contain mineral reserves that
are economically recoverable, and the Company is considered to be
in the exploration stage.
Forward Looking Information
This press release contains "forward-looking information” within
the meaning of applicable securities laws that is intended to be
covered by the safe harbours created by those laws.
“Forward-looking information” includes statements that use
forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “anticipate”, “believe”, “continue”, “potential” or the
negative thereof or other variations thereof or comparable
terminology.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made. Furthermore,
such forward-looking information involves a variety of known and
unknown risks, uncertainties and other factors which may cause the
actual plans, intentions, activities, results, performance or
achievements of the Corporation to be materially different from any
future plans, intentions, activities, results, performance or
achievements expressed or implied by forward-looking information.
See “Risk Factors” in the Corporation’s Final Prospectus dated
December 13, 2018 filed on SEDAR at www.sedar.com for a discussion
of these risks.
The Corporation cautions that there can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, investors should not
place undue reliance on forward-looking information.
Except as required by law, the Corporation does not assume any
obligation to release publicly any revisions to forward-looking
information contained in this press release to reflect events or
circumstances after the date hereof.
For further information
Sabino Di Paola, Interim Chief Executive
Officer, Chief Financial Officer and Secretary
sdipaola@urbangoldminerals.com
Phone (613) 721-2919www.urbangoldminerals.com
Neither the TSX Venture Exchange, nor its
Regulation Service Provider (as that term is defined in the
policies of the TSXV, accepts responsibility for the adequacy or
accuracy of this release.
Urbangold Minerals (TSXV:UGM)
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