Prominex Announces Changes to Board of Directors and Management
Toronto, Ontario--(Newsfile Corp. - April 11, 2019) - Prominex Resource Corp. (TSXV: PXR) ("Prominex" or the "Company") announces that Gordon Barron, Gordon MacNiel, David Stirling, and Liliana Hartwig have each resigned as directors of the Company, and Gordon Barron and Gordon MacNiel have also resigned as, respectively, Chief Executive Officer, and Chief Financial Officer. The Company has appointed Michael Lerner, Balu Gopalakrishnan, and Binyomin Posen to the board of directors in order to fill the vacancies created by the foregoing resignations. In addition, Michael Lerner and Balu Gopalakrishnan have been appointed as, respectively, Chief Executive Officer and Chief Financial Officer.
Mr. Lerner brings with him more than 20 years of experience in the natural resources market, starting as an institutional trader at CIBC and Wellington West, and then as a professional trader and financier focused on junior mining stocks at Dominick and Dominick. Since 2012, Mr. Lerner has become more involved in the operations of junior mining companies as an officer or director of public companies including Happy Creek Minerals, Jiminex Inc., Fairmont Resources Inc. and Navasota Resources Inc., etc., where he has helped to rehabilitate these companies.
Mr. Gopalakrishnan is a Chartered Accountant with significant public company experience, including more than six years with XCEED Mortgage Corporation, where he gained significant experience preparing the company's annual and quarterly consolidated financial statements, Management Discussion and Analysis (MD&A) of for quarterly and annual regulatory filings in accordance with International Financial Reporting Standards.
Mr. Binyomin Posen is a Senior Analyst at Plaza Capital, where he focuses on corporate finance, capital markets and helping companies go public. He returned to Toronto to complete his baccalaureate degree after three and a half years of studies overseas. Mr. Posen is now employed as an analyst at a Toronto boutique investment bank where his role consists of raising funds for IPOs and RTOs, business development for portfolio companies and client relations.
Prominex is a TSX-Venture Exchange listed exploration and development company trading under the symbol "PXR." During the past several years, Prominex has been exploring primarily for zinc-lead-copper-silver-gold mineral deposits. Currently, Prominex is evaluating two projects within a base metal rich area of central Newfoundland, home to formerly producing world-class base metal deposits at Buchans and the currently producing Duck Pond zinc-copper mine owned and operated by Teck. The Company's two major assets are the historic Tulks Hill and the Reid Lot 50 projects, both situated in central Newfoundland.
On behalf of the Board of Directors,
President, CEO and Director
This press release may include certain statements that may be deemed "forward-looking statements". Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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