Cascadero Announces Management Changes and Update on Upcoming Shareholders Meeting
October 14, 2020 (CCD: TSX-V)
CASCADERO ANNOUNCES MANAGEMENT CHANGES AND UPDATE ON UPCOMING SHAREHOLDERS MEETING
North Vancouver, BC, CANADA, October 14, 2020 – CASCADERO COPPER CORPORATION (the “Company”) is pleased to announce that the Board of Directors of Company has appointed Lorne Harder as Chairman of the Board and Natasha Tsai as Corporate Secretary. Mr. Harder replaces Dr. George Gale as Chairman and Dr. Gale remains a director and the interim Chief Executive Officer of the Company. Ms. Tsai replaces Mr. Harder as Corporate Secretary and remains Chief Financial Officer of the Company. The Board is also continuing its search for a new Chief Executive Officer. These management changes are some of the positive steps that the Company has taken towards improving the Company’s outlook.
As announced on September 15, 2020, the Company received from Mr. Nelson Borch a notice of requisition for a shareholder meeting. Mr. Borch is the principal of NB Projects Asia Pte. Ltd., which, through its ownership of 30% of Cascadero Minerals Corporation, is the minority joint venture party in the Company’s mineral exploration projects in Argentina. A Special Committee, consisting of Dr. Gale, Mr. Harder and Mr. Greg Andrews, was appointed in response to the requisition notice.
On the recommendation of the Special Committee, the requisition notice was rejected by the board due to certain deficiencies. Following the rejection of requisition notice, Mr. Borch notified the Company that he intended to nominate four persons for election as directors pursuant to the Company’s advance notice policy. After amicable discussions between Mr. Borch and the Company’s management, Mr. Borch has withdrawn his advance notice.
For more information, contact:
Dr. George Gale Interim CEO Phone: (604) 985-3327
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