VANCOUVER, Aug. 16, 2017 /CNW/ - Euromax Resources Ltd.,
(TSX: EOX; OTCQX: EOXFF): ("Euromax" or the
"Company"), is pleased to announce a management
restructuring to facilitate the timely and efficient development of
its Ilovica-Shtuka Copper-Gold Project in Macedonia (the "Project").
Martyn Konig, currently Chairman,
will become Executive Chairman and assume management responsibility
for the overall day-to-day activities of the Company. This
will allow the Management team to concentrate on the permitting,
construction preparation and financing activities. In
particular, Steve Sharpe, President
and CEO, having made positive progress in liaising with the newly
formed government of the Republic of Macedonia, will be primarily focused on
securing the last remaining permits for the construction of the
Project. Since coming to power in early June this year, the
new government has provided a stable political environment and been
supportive of the Project in recognition of the important
contribution it can make to the national and local economies.
Patrick Forward, Chief Operating
Officer, will continue to manage the engineering, design and
construction of the Project through the anticipated EPC contract
with Ausenco, as announced in February of this year and Varshan
Gokool, Chief Financial Officer, will be focused on the funding of
the business and the construction finance plan.
Commenting on the announcement, Martyn
Konig, Executive Chairman, stated:
"I am pleased to be even more involved with the management of
Euromax and to ensure the team is absolutely focused on securing
the final construction permits and finalising finance plans for the
Ilovica-Shtuka Project. By adding to and capitalising on the
varied skills within the Management team we can ensure the timely
completion of these activities to deliver a robust Ilovica-Shutka
Project as quickly as possible."
About Euromax Resources Ltd.
Euromax is a Canadian
development company, focused on building and operating the
Ilovica-Shtuka copper and gold project in Macedonia.
Forward-Looking Information
This news release contains forward-looking information.
Forward-looking statements include, but are not limited to, use of
proceeds from the Offering, the completion of the Offering, the
continued advancement of the company's general business
development, research development and the company's development of
mineral exploration projects. When used in this press release, the
words "will", "shall", "anticipate", "believe", "estimate",
"expect", "intent", "may", "project", "plan", "should" and similar
expressions may identify forward-looking statements. Although
Euromax believes that their expectations reflected in these forward
looking statements are reasonable, such statements involve risks
and uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statement. Important
factors that could cause actual results to differ from these
forward-looking statements include the potential that fluctuations
in the marketplace for the sale of minerals, the inability to
implement corporate strategies, the ability to obtain financing and
other risks disclosed in our filings made with Canadian securities
regulators available on SEDAR at www.sedar.com.
Forward-looking statements contained herein are made as of the date
of this news release and Euromax disclaims any obligation to update
any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
SOURCE EurOmax Resources Ltd.