Azimut Appoints Glenn Mullan as Director Symbol: AZM.TSX Venture
Azimut Appoints Glenn Mullan as Director
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
Feb. 28, 2020
/CNW Telbec/ -
Azimut Exploration Inc.
(
"Azimut"
or the
"Company"
) (
TSXV: AZM
) is very pleased to announce the appointment of Mr.
Glenn Mullan
as a
Director of the Company. Mr. Mullan was elected on
February 27, 2020
, during the last Annual
General Meeting of Shareholders held in
Montreal
.
Glenn Mullan
has been the President, Chief Executive Officer and Chairman of Golden Valley Mines
Ltd. since 2000. He is also a director of Abitibi Royalties Inc. (Executive Chairman) and several other
natural resource issuers trading on the TSX Venture Exchange. As a geologist and prospector,
Glenn Mullan
played an instrumental role from the discovery to feasibility stages of the large
Canadian Royalties Inc. nickel discoveries in Nunavik (
Northern Quebec
).
Mr. Mullan brings with him an in-depth knowledge of the global mining industry, including leading
positions in mining organizations. He was President of the Prospectors and Developers Association
of
Canada
(PDAC) from 2016 to 2019. He graduated from
Concordia University
with a Bachelor of
Science in Geology (1992) and received an ICD.D designation from the Institute of Corporate
Directors in
Montreal
(2007).
Other re-elected Azimut board members are Mr.
Michel Brunet
, Dr.
Jean-Marc Lulin
, Mrs. Angelina
Mehta, Mr.
Jean-Charles Potvin
, Mr. Louis P. Salley and Dr.
Jacques Simoneau
.
Other Corporate and Financial Information
On
February 27, 2020
, a total of 965,000 stock options have been granted to its directors, officers,
employees and consultants. Of this number, 895,000 have been granted to its directors and officers
and 115,000 to its employees and consultants. These options have an exercise price of
$1.44
per
share; they will vest after six (6) months and will thereafter be exercisable at any time until
February
27, 2030
.
Azimut has recently received an amount totalling
$865,702
from the exercise of warrants at a price
of
$0.35
per share
($773,702)
and
$0.46
per share
($92,000)
. Four insiders have exercised stock
options at a price of
$0.66
per share for a total amount of
$184,800
. No fees are related to these
issuances.
The Board of Directors has passed a resolution to amend the stock option plan of the Corporation in
accordance with the provisions of Policy 4.4 of the TSX Venture Exchange. Pursuant to said
amendment, the Corporation has added a clause allowing the extension of the exercise period of any
stock option that expires during a blackout period or within 10 days following the end of such period.
About Azimut Exploration
Azimut is a mineral exploration company whose core business is centred on target generation and
partnership development. The Company uses a pioneering approach to big data analytics (the
proprietary
AZtechMine
TM
expert system) enhanced by extensive exploration know-how. Azimut
maintains rigorous financial discipline and has 63.9 million shares outstanding.
Azimut holds the largest mineral exploration portfolio in
Quebec
. The Company's competitive edge
against exploration risk is founded on systematic regional-scale data analysis and multiple
concurrently active projects. This includes two regional strategic alliances with SOQUEM for six (6)
gold properties.
www.azimut-exploration.com
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.
SOURCE
Azimut Exploration Inc.
View original content:
http://www.newswire.ca/en/releases/archive/February2020/28/c1222.html
%SEDAR: 00003284E
For further information:
Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015, Fax: (450)
646-3045, [email protected]
CO: Azimut Exploration Inc.
CNW 07:00e 28-FEB-20