Maritime Announces Management Changes
Vancouver, British Columbia--(Newsfile Corp. - February 7, 2019) - Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") announced that the following management changes have occurred:
Ms. Niina Makela has resigned as Maritime's Chief Financial Officer;
Ms. Germaine M. Coombs CPA, CMA has been appointed as Maritime's Chief Financial Officer;
Ms. Jacqueline Collins has resigned Maritime's Corporate Secretary; and
Ms. Lorna D. MacGillivray LLB has been appointed as Maritime's Corporate Secretary.
Maritime's President and Chief Executive Officer, Mr. Garett Macdonald, stated, "I would like to thank Niina and Jackie, on behalf of Maritime and its Board, for their contributions to the Company as Maritime's Chief Financial Officer and Corporate Secretary, respectively and for their assistance with the transition to a new management team. I am also pleased to welcome Germaine and Lorna to Maritime and look forward to working with them as we advance the Hammerdown gold project in Newfoundland & Labrador."
Ms. Coombs also serves as Vice President and Chief Financial Officer of Aurelius Minerals Inc. and previously was the Vice President and Chief Financial Officer for Stonegate Agricom Ltd. from August 2010 until July 2017. Prior to this, she was Corporate Controller for FNX Mining Company Inc. from August 2004 to May 2010. From 1998 to 2004, she held progressively senior accounting roles at the Iron Ore Company of Canada, a Rio Tinto company. Ms. Coombs brings over 20 years of extensive financial and commercial experience predominantly in the mining and resource industry, successfully leading finance teams through different stages of project financing, construction and operations.
Ms. MacGillivray also serves as Corporate Secretary of Aurelius Minerals Inc. and previously was the Vice President, Secretary and General Counsel for Stonegate Agricom Ltd. from August 2008 until July 2017. Prior to that, she was Assistant Secretary of Thompson Creek Metals Company Inc. from May 2007 to May 2011. Previously, she was Corporate Secretary and General Counsel of Glencairn Gold Corporation from November 2003 to January 2008. Ms. MacGillivray has 30 years of in-house legal and corporate secretarial experience for mining companies, including Campbell Resources Inc., Zemex Corporation and Northgate Exploration Limited.
About Maritime Resources Corp.:
Maritime Resources holds a 100% interest in the Green Bay Property, including the former Hammerdown gold mine, located near Springdale, Newfoundland and Labrador, Canada.
Maritime Resources Corp.
Garett Macdonald, President & CEO
Caution Regarding Forward Looking Statements:
Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable security law.
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