AVX) Mr. Robert J. Naso, President & CEO, is pleased to provide this corporate update following a
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Vancouver, British Columbia – May 2, 2016: Altair Gold Inc. (“Altair” or the “Company”) (TSX-V: AVX) Mr. Robert J. Naso, President & CEO, is pleased to provide this corporate update following a meeting of the Board of Directors.
Mr. John Huguet, FCPA, FCMA, an independent director has been appointed Chairman of the Board effective May 1st, 2016. To assist the Company in its corporate filings the Board has also appointed Mr. Nick DeMare as Corporate Secretary.
Mr. Zahir Dhanani has effective immediately resigned from the Board of Directors. Mr. Dhanani will continue to assist the Company by serving on the recently constituted Advisory Board. The Board wishes to acknowledge Mr. Dhanani’s contribution to Altair and particularly the acquisition of the Cerpulje license in Kosovo. Additionally, Mr. Dhanani has agreed to provide a further bridge loan for up to $300,000 Canadian to complete the first option payments on the Cerpulje license, to fund the phase 1 work program and for working capital.
The Board also made additional changes to strengthen its corporate governance matters including:
a) New banking resolution
b) New audit committee
c) new compensation committee
d) new operations committee
e) hiring of Chase Management to assist with administrative needs
f) Retained Axiom Law Corporation as corporate counsel
g) Authorized search for additional Independent Directors (2) and a new Chief Financial Officer.
The board also authorized the operating committee to follow up on additional acquisition opportunities currently being evaluated.
ON BEHALF OF THE BOARD,
“Robert J. Naso”
Robert J. Naso President and CEO
Neither 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.