TSX-V:JAG
TORONTO, May 12, 2014 /CNW/ - Jaguar Mining Inc.
("Jaguar" or the "Company") today announced the
appointment of Jared Hardner to its
Board of Directors (the "Board") effective May 12, 2014. The term of his appointment is
until the next Annual General Meeting of the Company at which time
he will stand for election by the shareholders of the Company. Mr.
Hardner has worked in the environmental field for 21 years.
Over the past decade, his work has focused increasingly on the
mining industry and he includes among his clients Rio Tinto,
Barrick Gold, Teck, First Quantum,
and Newmont Mining. His geographic experience includes the
U.S., Canada, Africa, Asia,
Australia, and numerous countries
in Latin America including
Brazil. He holds a Bachelor
of Arts in Economics and Certificate in Latin American Studies from
Princeton University, and a Masters of
Forest Science from Yale
University.
The Company also announces that Mr. R. David Russell has tendered his resignation as
a director of the Company, effective immediately. "We wish to
express our thanks to David in helping to implement the
recapitalization and restructuring of Jaguar's balance sheet, that
took place on April 22, 2014.
Now, with a clean balance sheet and minimal net debt, Jaguar is
well positioned to continue its operational restructuring and to
capitalize on its extensive near mine exploration activities and
development projects," stated Mr. Dick
Falconer.
Share-Based Compensation
The Company also announced that it has granted
incentive stock options pursuant to its stock option plan to
officers and directors of the Company for the purchase up to an
aggregate of 1,994,735 common shares of the Company. The options
are exercisable at a price of $1.35
per common share and will expire on May 12,
2022. The stock options will vest in equal tranches over the
next 24 months.
The Company also announced that it has granted
an aggregate of 1,500,566 deferred share units
("DSU's") pursuant to its DSU plan to officers and directors
of the Company.
Forward-Looking Statements
Certain statements in this press release
constitute "Forward-Looking Statements" within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation. Forward-Looking
Statements can be identified by the use of words such as "are
expected", "is forecast", "is targeted", "approximately" or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might", or
"will" be taken, occur or be achieved. Forward-Looking Statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results or performance to be materially
different from any future results or performance expressed or
implied by the Forward-Looking Statements.
These Forward-Looking Statements represent the
Company's views as of the date of this press release. The Company
anticipates that subsequent events and developments may cause the
Company's views to change. Factors which could cause results or
events to differ from current expectations include, among other
things, actions taken against the Company by governmental agencies
and securities and other regulators and other factors not currently
viewed as material that could cause actual results to differ
materially from those described in the Forward-Looking
Statements. The Company does not undertake to update any
Forward-Looking Statements, either written or oral, that may be
made from time to time by or on behalf of the Company subsequent to
the date of this discussion except as required by law.
About Jaguar Mining Inc.
Jaguar is a junior gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais and owns the Gurupi
Project in Northeastern Brazil in
the state of Maranhão. The Company also owns additional mineral
resources at its approximate 210,000-hectare land base in
Brazil. Additional information is
available on the Company's website at www.jaguarmining.com.
SOURCE Jaguar Mining Inc.