CALGARY, Alberta, July 04, 2019 (GLOBE NEWSWIRE) -- Voyageur Minerals Ltd. (TSX.V:VM) (the “Company” or “Voyageur”) is pleased to announce the appointment of a new director and implementation of its succession plan for Voyageur’s CEO role.
Effective July 1st, 2019, after four years of dedicated service, Mr. John Rucci has resigned his CEO and director positions. Mr. Rucci was instrumental in advancing projects in the Voyageur portfolio and Voyageur thanks him for his efforts with moving the Company forward.
In keeping with the Company’s defined succession plan, the Board of Directors has appointed Mr. Brent Willis as the new CEO of Voyageur. Brent Willis is a founder and has been with the Company since its inception. He has a proven track record bringing projects from discovery of minerals to cash flow. Brent has a proven leadership style that focuses on ethics, collaboration, team work and profitability with the goal of ensuring shareholders’ interests form the foundation for all business decisions in creating the maximum return on investment value possible.
Voyageur appoints a new director to the board.
Voyageur is pleased to announce that Trent Abraham has been appointed as a director of Voyageur. Trent is a proven leader, senior executive, entrepreneur, consultant, and owner with over 31 years of success in energy services, oil & gas, mining, agriculture, blending and manufacturing, chemicals, global procurement and distribution, logistics and freight. Trent is currently the COO and President of Midwestern Mud and SOS Environmental. He also has an advisory role with Emprada Minerals LLC., a global mineral company. Trent has held senior executive positions at Emprada Minerals, Brichem Corporation / Brichem Supply Ltd., Sodium Solutions, Millennium Technologies, Ltd., Sun Coast Materials and Spirit Mountain Environmental.
In addition to a second near term closing of the equity unit financing announced on April 26, 2019, the Company has agreed to issue up to $250,000 of flow through shares, where one flow through share issued at $0.08, together with one half ( ½) of a common share purchase warrant, exercisable at $0.20, for two years from closing, will make up a unit. The warrants in this offering contain an acceleration clause such that the warrants expiry date may be accelerated upon 30 days’ notice, at the Company's discretion upon its shares trading at or above $0.25 per share for a period of ten consecutive trading days.
Voyageur Minerals Ltd. is Canadian public company listed on the TSX Venture Exchange under the trading symbol VM. Voyageur is focused on the development of barite and iodine API minerals for the pharmaceutical market.
Near-term cash flow will be achieved through its recently signed joint venture with a world-class pharmaceutical manufacturer, Chief Medical Supply Ltd., for turn key manufacturing, bottling and distribution of barium and iodine radiopharmaceuticals for MRI, X-ray and CT scan applications.
Voyageur owns 100% interest in three Barium Sulfate ("Barite") deposits including two properties suitable in grade for the industrial barite market place, including interests in a high-grade iodine, lithium & bromine brine project in Utah, USA.
For further information, please contact:
|Steven R. Livingston, VP Finance |
Cell-Text: (403) 471-1659
Office: + (587)-779-6166 Dial#1
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Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements relating to the Qualifying Transaction, including statements regarding the acquisition of future assets, the discovery and commercialization of commercial quantities of industrial minerals, the successful commercialization of the Company’s assets, expected operational activities, other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the risk that the assets do not provide commercial quantities or grades of marketable minerals, that even if they do contain commercial quantities of marketable minerals that the Company will not be able to economically produce such discoveries, the existence of commercial grades of commercial minerals, timing of obtaining required approvals, state of the economy in general and capital markets in particular, investor interest in the business and future prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.