Mosaic Minerals Corp Appoints New Chief Executive Officer and Directors
31 August 2021 - 9:00PM
The management of Mosaic Minerals Corp. (“Mosaic” or the “Company”)
(CSE: MOC) is pleased to announce the nomination of Mr. Jonathan
Hamel as President and Chief Executive Officer effective
immediately.
Mr Hamel is President and CEO at Bullion Gold
Resources Corporation (TSX-V : BGD), Secretary of the Board of
Vanstar Mining Resources Inc (TSX-V : VSR) since 2020. He acted as
Interim President and CEO during management transition in 2020. He
was also a Director at Vanstar from 2018 to 2021. In addition to
his 20 years of management experience, Mr. Hamel sits on the Board
of Directors of the Montreal Economic Institute, a globally
recognized independent public policy think tank focused on
proposing reforms based on market principles and entrepreneurship
as well as Guest Lecturer at École des dirigeants – HEC Montréal.
Mr Hamel served on the Financial Technology Innovation Committee of
L’Autorité des Marchés Financiers (Québec) from 2017 to 2020. Mr.
Hamel will also join the Board of Directors of The Company
replacing Mr. Guy Morissette who will continues to advise the
Company as an external consultant.
The management is also pleased to announce the
nomination of Mr. Jean Rainville as Director of The Company. Mr.
Rainville has over 40 years of experience in the mining industry
and financial markets. From 2008, his principal occupation was
President and CEO of Blackrock Metals Inc. In 2018, Mr. Rainville
ceased to serve as CEO, while retaining his position as President
until late 2019, at which time he became a consultant. Previously,
Mr. Rainville worked as an engineer, a fund manager and a director
of corporate finance and has also served as a director or advisor
for several public companies including Bonterra Resources Inc
(TSX-V : BTR) and Fokus Mining Inc. (TSX-V: FKM). He holds
bachelor’s degrees in Mining Engineering and Commerce, both from
McGill University.
Grant of Stock OptionsThe Company also announces
that incentive stock options have been granted to directors,
officers, and consultants to purchase up to 1,100,000 common shares
at a price of $0.095 per share for five years, pursuant to its
Stock Option Plan. The Company currently has 42,678,500 shares
issued and outstanding, along with 4,050,000 options (including the
options described above) and 9,924,500 warrants outstanding.
Related-Party Transaction
An Insider of the Corporation subscribed for an
aggregate of 100,000 Units for gross proceeds of $7,000.00 under
the Private Placement (the 'Insider Subscriptions') disclosed on
August 26, 2021. The Insider Subscriptions constitute 'related
party transactions' within the meaning of Multilateral Instrument
61-101 - Protection of Minority Securityholders in Special
Transactions ('MI 61-101'). The Corporation has relied on the
exemptions from the formal valuation and minority shareholder
approval requirements of MI 61-101 contained in Sections 5.5(a) and
5.7(1)(a), respectively, of MI 61-101 in respect of the Insider
Subscriptions.
About Mosaic Minerals CorporationMosaic Minerals
Corp. is a Canadian mineral exploration company listed on the
Canadian Security Exchange (CSE: MOC) now focusing on the
exploration for future strategic Copper-Nickel-Zinc deposits in
priority on the Quebec Province territory which have a long and
successful history of base metal production principally in the
Rouyn-Noranda, Matagami, Vald’Or and Chibougamau mining
camps.Exploring for base metal was put on hold a few decades ago to
the profit of exploring for gold but thepotential for discovering
large Cu, Zn, Ni deposits is still very present.
On Behalf of the BoardM. Jonathan HamelPresident
& CEOjhamel@mosaicminerals.ca
This release contains certain “forward-looking
information” under applicable Canadian securities laws concerning
the Arrangement. Forward-looking information reflects the Company’s
current internal expectations or beliefs and is based on
information currently available to the Company. In some cases,
forward-looking information can be identified by terminology such
as “may”, “will”, “should”, “expect”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “projects”, “potential”,
“scheduled”, “forecast”, “budget” or the negative of those terms or
other comparable terminology. Assumptions upon which such
forward-looking information is based includes, among others, that
the conditions to closing of the Arrangement will be satisfied and
that the Arrangement will be completed on the terms set out in the
definitive agreement. Many of these assumptions are based on
factors and events that are not within the control of the Company,
and there is no assurance they will prove to be correct or
accurate. Risk factors that could cause actual results to differ
materially from those predicted herein include, without limitation:
that the remaining conditions to the Arrangement will not be
satisfied; that the business prospects and opportunities of the
Company will not proceed as anticipated; changes in the global
prices for gold or certain other commodities (such as diesel,
aluminum and electricity); changes in U.S. dollar and other
currency exchange rates, interest rates or gold lease rates; risks
arising from holding derivative instruments; the level of liquidity
and capital resources; access to capital markets, financing and
interest rates; mining tax regimes; ability to successfully
integrate acquired assets; legislative, political or economic
developments in the jurisdictions in which the Company carries on
business; operating or technical difficulties in connection with
mining or development activities; laws and regulations governing
the protection of the environment; employee relations; availability
and increasing costs associated with mining inputs and labour; the
speculative nature of exploration and development; contests over
title to properties, particularly title to undeveloped properties;
and the risks involved in the exploration, development and mining
business. Risks and unknowns inherent in all projects include the
inaccuracy of estimated reserves and resources, metallurgical
recoveries, capital and operating costs of such projects, and the
future prices for the relevant minerals. The Canadian Securities
Exchange does not accept responsibility for the adequacy or
accuracy of this release.
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