Nautilus Announces Changes to its Board of Directors
October 19 2017 - 06:15AM
Nautilus Minerals Inc. (TSX:NUS) (OTC:NUSMF)
(the "
Company" or "
Nautilus")
announces changes to its board of directors with the appointment of
John McCoach following the resignation of Mark Horn.
Russell Debney, Nautilus Minerals' Chairman
said, “I would like to thank Mark for his valuable contribution to
the Company over the past four years and we look forward to our
continued working relationship with Mark as leader of Deep Sea
Mining Finance Ltd. I would also like to welcome John to the Board
and look forward to his input in helping the Company achieve its
objective of developing the world's first commercial seafloor
copper-gold project in Papua New Guinea. John’s strong background
in the capital markets and in the area of regulatory compliance
will help ensure continued strong governance as well as improved
board independence, especially as we seek to implement the ongoing
funding and development initiatives."
Following the resignation of Mr Horn and the
appointment of Mr McCoach, the members of the Company's Board of
Directors are as follows:
- Russell Debney (Chairman and Non-Executive Director)
- Dr. Mohamed Al Barwani (Non-Executive Director)
- Tariq Al Barwani (Non-Executive Director)
- John McCoach (Non-Executive Director)
Mr McCoach has also been appointed Chair of the Company's Audit
Committee, with the members of that Committee now being comprised
as follows:
- John McCoach (Chair)
- Russell Debney
- Tariq Al Barwani
Mr John McCoach
John McCoach recently retired as president of
the TSX Venture Exchange, a position he held since 2009. He is
currently on the board of directors of the Capital Markets
Authority Implementation Organization; the entity tasked by five
participating provinces, one territory and the Government of Canada
to create a pan-Canadian securities commission. John is a financial
industry executive with experience in various strategic, management
and operational roles. He has a track record of success in building
strategies and programs to meet customer needs, maximize revenue
growth, operational efficiency, and shareholder value. John is also
adept at leading and coaching teams through large, complex
organizational and cultural transformations and regulatory changes.
He is highly effective in establishing trust and credibility, both
domestically and internationally, with multiple
constituents.
John McCoach has over 35 years experience in the
investment industry. John has witnessed, and participated in, many
changes in the Canadian capital markets. He was a senior vice
president, corporate finance for an independent Canadian investment
dealer prior to joining TMX Group.
Links
*Resignation of Mark Horn
http://www.nautilusminerals.com/irm/PDF/1925_0/NautilusMineralsResignationofMarkPMHornasaDirector
http://www.nautilusminerals.com/irm/PDF/1929_0/Nautilussignsfundingmandatewithmajorshareholders
For more information please refer to
www.nautilusminerals.com or contact:
Investor Relations Nautilus Minerals Inc.
(Toronto) Email: investor@nautilusminerals.com Tel: +1 416 551
1100
The TSX does not accept responsibility
for the adequacy or accuracy of this press release.
Certain of the statements made in this news
release may contain forward-looking information within the meaning
of applicable securities laws, including statements with respect to
the plans to develop the seafloor copper-gold project in Papua New
Guinea. We have made numerous assumptions about such statements,
including assumptions relating to project funding requirements and
commitments and the operation of the Company's seafloor production
system. Even though our management believes the assumptions made
and the expectations represented by such statements are reasonable,
there can be no assurance that they will prove to be accurate.
Forward-looking information by its nature involves known and
unknown risks, uncertainties and other factors which may cause the
actual results to be materially different from any future results
expressed or implied by such forward-looking information. Please
refer to our most recently filed Annual Information Form in respect
of material assumptions and risks related to the prospects of
extracting minerals from the seafloor and other risks relating to
the Company's business and plans for development of the Company's
Solwara 1 Project. Risks related to continuing the Company's
operations and advancing the development of the Solwara 1 Project
include the risk that the Company will be unable to obtain at all
or on acceptable terms, and within the timeframes required, the
remaining financings necessary to continue operations and fund the
completion of the build, testing and deployment of the Company's
seafloor production system. As the Company has not completed an
economic study in respect of the Solwara 1 Project, there can be no
assurance that the Company's production plans will, if fully funded
and implemented, successfully demonstrate that seafloor resource
production is commercially viable. Except as required by law, we do
not expect to update forward-looking statements and information as
conditions change and you are referred to the full discussion of
the Company's business contained in the Company's reports filed
with the securities regulatory authorities in Canada.
About Nautilus Minerals
Inc.
Nautilus is the first company to explore the
ocean floor for polymetallic seafloor massive sulphide deposits.
Nautilus was granted the first mining lease for such deposits at
the prospect known as Solwara 1, in the territorial waters of Papua
New Guinea, where it is aiming to produce copper, gold and silver.
The Company has also been granted its environmental permit for this
site. Nautilus also holds highly prospective exploration acreage in
the western Pacific (granted and under application), as well as in
international waters in the Central Pacific. A Canadian registered
company, Nautilus is listed on the TSX:NUS stock exchange and is
also a member of the Nasdaq International Designation program. Its
corporate office is in Brisbane, Australia. Its major shareholders
include MB Holding Company LLC, an Oman based group with interests
in mining, oil & gas, which holds a 29.3% interest and
Metalloinvest, the largest iron ore producer in Europe and the CIS,
which has a 18.5% holding (each on a non-diluted basis, excluding
loan shares outstanding under the Company’s share loan
plan).