Search Announces Board Changes and Appointments and Retains Market-Making Services
Search Announces Board Changes and Appointments and
Retains Market-Making Services
VANCOUVER, British Columbia, June 09, 2017 (GLOBE NEWSWIRE) -- Search Minerals Inc.
(TSXV:SMY) (“Search ” or the “Company”) is pleased to announce the recent changes to its board of
directors, officers and committees, the agreement for market -making services, and expiration of marketing
and consulting agreement.
Board of Director and Officer changes
At the Annual General Meeting, Greg Andrews, President and Chief Executive Officer was newly elected as
a Director, along with the existing directors, Jim Clucas, James Patterson, David Dreisinger, Roberto
Giannetti da Fonseca and Leo Power. Search also appointed the following officers for the ensuing year.
Jim Clucas, Executive Chairman, Greg Andrews, President and Chief Executive Officer, Matthew Anderson,
Chief Financial Officer, Dr. Randy Miller, VP of Exploration, and Dr. David Dreisinger, VP of Metallurgy.
Barry Girling has resigned as Corporate Secretary, due to time constraints, but was appointed to the
Search advisory board.
Committee Appointments
The Audit committee for the ensuring year will consist of the following board members: Leo Power, Jim
Clucas, and James Patterson.
The Compensation and Nominating Committee will consist of the following board members: Leo Power,
James Patterson, and Roberto Giannetti da Fonseca.
Retains Market -Making Services
Search Minerals has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (VLP) to
initiate its market -making service to provide assistance in maintaining an orderly trading market for the
common shares of the company.
The market -making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd.,
in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its
services, the Company has agreed to pay $ 5,000.00 per month for a period of 12 months. The agreement
may be terminated at any time by Search or VLP. The Company and VLP act at arm's length, and VLP has
no present interest, directly or indirectly, in the corporation or its securities. The finances and the shares
required for the market -making service are provided by W.D. Latimer. The fee paid by the Company to VLP
is for services only.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX -V-
listed issuers.
Expiry of Marketing and Consulting Agreement
The marketing and consulting agreement between the Company and NAI Interactive expired on March 31,
2017.
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing
resources within the emerging Port Hope Simpson Critical Rare Earth Element ( “CREE”) District of South
East Labrador (the “District”). The Company controls a belt 70 km long and 8 km wide including its 100%
interest in the FOXTROT Project which is road accessible and at tidewater. Exploration efforts have
advanced “Deep Fox ” and “Fox Meadow” as significant new CREE prospects very similar and in close
proximity to the original FOXTROT discovery. While the Company has identified more than 20 other
prospects in the District, its primary near -term objective remains development of the FOXTROT deposit.
With proprietary processing technology now demonstrated at the pilot plant level and ongoing delineation
of additional prospects, the Company ’s long -term goal is to ensure competitive -low cost production well
beyond the 14 -year mine life contemplated in the preliminary economic assessment of FOXTROT
completed in April 2016. The FOXTROT Project has a low capital cost to bring the initial project into
production ($152 M), a short payback period and is scalable due to Search ’s proprietary processing
technology. The preliminary economic assessment is preliminary in nature and includes inferred mineral
resources that are considered too speculative geologically to have the economic considerations applied to
them that would enable them to be categorized as mineral reserves, and there is no certainty that the
preliminary economic assessment will be realized. The preliminary economic assessment includes the
results of an economic analysis of mineral resources. Mineral resources are not mineral reserves and do
not have demonstrated economic viability.
All material information on the Company may be found on its website at www.searchminerals.ca and on
SEDAR at www.sedar.com
About neo -CREOs (Adamas Intelligence – December 2016)
We consider neodymium, praseodymium, and dysprosium to be neo -CREOs and they are vital to NdFeB
magnets used widely in renewable power generation, electric mobility, and energy -efficient technologies.
We consider terbium to be a neo -CREO because upon experiencing shortages of dysprosium, consumers
in the magnet industry will rapidly consume available terbium supplies in its place for applications involving
renewable power generation, electric mobility and energy efficient technologies. Lanthanum is considered
a neo -CREO because it is widely used in catalytic converters and rechargeable batteries, and will be
increasingly used as a thermal stabilizer by producers of poly -vinyl chloride (PVC) to minimize lead
consumption and improve the energy efficiency of PVC and other processing equipment.
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.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to
comply with this restriction may constitute a violation of U.S. securities laws.
Cautionary Statement Regarding “Forward -Looking” Information.
This news release includes certain "forward -looking information ” and "forward -looking
statements” (collectively "forward -looking statements ”) within the meaning of applicable Canadian and
United States securities legislation including the United States Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical fact, included herein, without limitation, statements
relating to the future operating or financial performance of the Company, are forward -looking statements.
Forward-looking statements are frequently, but not always, identified by words such as “expects”,
“anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements
that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward -looking
statements in this news release relate to, among other things, completion of the Offering. Actual future
results may differ materially. There can be no assurance that such statements will prove to be accurate,
and actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are
made and are based upon a number of assumptions and estimates that, while considered reasonable by
the respective parties, are inherently subject to significant business, economic, competitive, political and
social uncertainties and contingencies. Many factors, both known and unknown, could cause actual
results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward -looking statements and the parties
have made assumptions and estimates based on or related to many of these factors. Such factors include,
without limitation, the risk that the Company is not able to find suitable investors for the Offering or does not
receive the approval of the TSX Venture Exchange. Readers should not place undue reliance on the
forward-looking statements and information contained in this news release concerning these times. Except
as required by law, the Company does not assume any obligation to update the forward -looking statements
of beliefs, opinions, projections, or other factors, should they change.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604-998-3432 Ext 2
E-mail: [email protected]
Paul Snow
Investor Relations
Tel: 709-753-0794
E-mail: [email protected]