Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE:
APE) is pleased to announce that its shareholders have approved all
of the resolutions presented at its annual and special meeting of
shareholders (the "Meeting") held on March 11, 2011, including the
election of the Company's proposed nominees to the Board of
Directors of Apogee. At the Meeting, 99% of votes cast,
representing 28% of the issued and outstanding shares of the
Company, were voted in favour of the election of the proposed Board
members.
The returning Board members re-elected are Mr. David Gower, the
Chief Executive Officer of the Company, Mr. Stan Bharti and Mr.
Peter Bojtos. In addition, the shareholders approved the election
of Mr. G. Scott Paterson as a director and Chairman of the Board,
Mr. Maurice Colson, Ms. Marilia Bento and Mr. Francois Perron as
directors of the Company.
Mr. Paterson is Vice Chairman of NeuLion Inc. (formerly JumpTV),
having been Chairman from January 2002 until October 2008. NeuLion
is a world leader in IPTV, counting the NFL, NHL, NBA and the NCAA
as key clients and is a board member of several public companies.
He is also Chairman of the Merry Go Round Children's Foundation and
a Governor of Ridley College. From 1998 to December 2001, Mr.
Paterson was Chairman and CEO of Yorkton Securities Inc., which
under his leadership became Canada's leading technology investment
bank, raising over $13 billion in equity for Canadian companies as
managing and co-managing underwriter. Mr. Paterson has served as
the past Chairman of the Canadian Venture Stock Exchange and as a
former Vice Chairman of the TSX. In 2009, Mr. Paterson obtained the
ICD.D designation by graduating from the Rotman Institute of
Corporate Directors at the University of Toronto.
Ms. Bento is currently the Vice President, Corporate Development
of the Corporation. Ms. Bento has over 20 years of experience in
the financial industry and the Canadian capital markets. Previously
Ms. Bento was Managing Director at Macquarie Capital Markets Canada
Ltd. and held the position of the Head of Equity Capital Markets
Canada. Marilia has participated financings for numerous energy,
mining, technology and healthcare companies, representing over 800
financings and over $46 billion in equity. Ms. Bento was also
responsible for building a retail network group that had over $45
billion of assets under administration and comprised over 1,400
retail brokers across Canada. Prior to the acquisition of Orion
Securities by Macquarie Capital Markets Canada Ltd., Ms. Bento was
on the Board of Directors of Orion from June 2000 until November
2007.
Mr. Colson has worked in the investment industry for more than
35 years and was for many years managing director for a major
Canadian investment dealer in the United Kingdom. He is actively
involved in providing strategic counsel and assistance with
financing to emerging private and public companies in Canada and to
Canadian companies operating in China, Africa, and South America.
He sits on the board of directors of several TSX and TSX Venture
listed companies and is the former President and CEO of Lithium One
Resources. He continues to serve as a director and is the
Vice-Chairman of Lithium One Resources. Mr. Colson holds a Masters
of Business Administration degree.
Mr. Perron was recently appointed as the President and Chief
Executive Officer of Alexis Minerals Corporation and was previously
the President and Chief Executive Officer of Golden Goose
Resources. Prior to joining Golden Goose Resources, Mr. Perron was
involved in the financial markets as a portfolio manager. He
recently managed a resource focused portfolio for NBC Alternative
Investments. Prior to joining NBC Alternative Investments in 2007,
he ran various resource funds for the Caisse de depot et placement
du Quebec from 2001 to 2007. In 2006, he was recognized by Brendan
Woods International as a Top Gun Asset Manager in Mining. Prior to
fund management, he was a research analyst covering the forest
product sector at Merrill Lynch. He has a Bachelor of Science,
Computer Science from McMaster University (1986) and an MBA from
the Hautes Etudes Commerciales which he obtained in 1992.
In addition, the Company is pleased to announce that Mr. David
Hunter has been appointed as the Chief Financial Officer of the
Company following the resignation of Mr. Greg Duras. Mr. Hunter was
admitted to the Ontario Institute of Chartered Accountants (CA) in
1996 after training with some of the largest national accounting
firms. He has extensive experience in setting up financial systems
for growing companies to ensure they meet proper financial
governance. Aside from public accounting experience, he has served
in senior financial roles including Chief Financial Officer, Vice
President, Director and Controller in both public and private
companies. He earned an MBA in accounting and finance from the
University of Toronto. The Company would like to thank Mr. Duras
for his committed support and wish him the best with future
endeavors.
In connection with the appointments, the Company shall grant an
aggregate of 600,000 stock options to certain directors and
officers of the Company at an exercise price of $0.28. The options
shall vest immediately and will expire within five years from the
date of grant, in accordance with the terms of Apogee's stock
option plan and shall remain subject to a statutory hold period.
The options shall remain subject to receipt of all necessary
regulatory approvals, including the approval of the TSX Venture
Exchange.
The Company also announces the resignation of Joaquin Merino as
the Vice President, Exploration. Apogee would like to acknowledge
the significant contributions of Mr. Merino, who since September
2006 has guided the Bolivia team and the technical programs
resulting in the delineation of substantial mineral resources on
the Pulacayo-Paca property. The Company wishes him the best with
future endeavors.
David Gower, Chief Executive Officer of the Company commented,
"On behalf of the Company, I would like to extend my appreciation
to shareholders for their vote of confidence and continued support
of Apogee and its corporate strategy. Management and the Board of
Directors will continue to focus on aggressively pursuing Apogee's
exploration and development strategy designed to build current and
long term value for all shareholders."
For detailed project information please refer to Apogee's web
site at www.apogeeminerals.com.
About Apogee Minerals Limited
Apogee Minerals Ltd. is an exploration stage company a listed on
the TSX Venture Exchange under the symbol APE. Apogee targets
advanced silver-zinc-lead projects in South America that
demonstrate potential to be rapidly developed to production.
Currently its projects are located in the historic silver producing
regions of southwest Bolivia and northern Chile.
Its most advanced project is the 100% owned Pulacayo-Paca
project in Bolivia. This project includes the property that covered
the second-largest silver mine in the history of Bolivia with over
600 million ounces of past production.
Cautionary Note Regarding Forward-Looking Information This press
release contains "forward looking information" within the meaning
of applicable Canadian securities legislation. Forward looking
information includes, but is not limited to, statements with
respect to the future financial or operating performance of the
Company, its subsidiaries and its projects, statements regarding
the impact of the election of the directors, the development of the
Pulacayo-Paca project, statements regarding exploration prospects,
and requirements for additional capital. Generally, forward looking
information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to:
financing not being available at desired prices; general business,
economic, competitive, political and social uncertainties; the
actual results of current exploration activities; timing and
availability of external financing on acceptable terms; conclusions
of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of mineral prices; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; and, delays
in obtaining governmental approvals or required financing or in the
completion of activities. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
NEITHER THE 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.
Contacts: Apogee Minerals Ltd. Marilia Bento Vice President
Corporate Development (1) 416 309-2694 info@apogeeminerals.com
www.apogeeminerals.com
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