VANCOUVER, BC, Aug. 31,
2020 /CNW/ - Euromax Resources Ltd - (TSX: EOX):
("Euromax" or the "Company") announces that that
Varshan Gokool has resigned from the Company's Board of Directors
and as Chief Executive Officer and President, effective
August 31, 2020. As a result of
the foregoing, Mr. Gokool will no longer be included in the
management slate of director nominees being put forward at the
company's upcoming annual meeting of shareholders to be held on
September 18, 2020.
The Company has appointed Tim
Morgan-Wynne, previously Non Executive Chairman and a
director of the Company for 8 years, as Executive Chairman, and
Nicolas Treand as President in addition to his executive role in
charge of Macedonian affairs, both effective August 31, 2020.
Tim Morgan-Wynne, Chairman,
stated: "On behalf of the Company's Board of Directors, we want to
thank Varshan for his commitment and hard work, steering the
Company through some difficult circumstances during his 9 year
tenure as both Chief Executive Officer and Chief Financial Officer
of the Company."
"These changes are the first step in a process of refocusing on
our Macedonian business and we look forward to working with the new
Government in North Macedonia to
resolve the issues relating to the Ilovitsa-Shtuka project."
About Euromax Resources Ltd.
Euromax has a major development project in North Macedonia and is focused on building and
operating the Ilovica-Shtuka copper project.
Forward-Looking Information
This news release
contains statements that are forward-looking, such as those
relating to results of operations and financial condition,
permitting and licensing, capital spending, financing sources,
commodity prices, mineral resources and property evaluation plans
and programmes. Forward-looking statements are frequently
characterised by words such as "plan", "expect", "project",
"intend", "believe", "anticipate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates
of management at the dates the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. The
forward-looking statements contained in this document are as of the
date of this document, and are subject to change after this date.
Readers are cautioned that the assumptions used in the preparation
of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. Euromax
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Euromax Resources