Business
Pure Energy Minerals Announces Management Restructuring
DENVER, Oct. 30, 2018 (GLOBE NEWSWIRE) -- Pure Energy Minerals Limited (TSX VENTURE:PE) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) announces a management re
About this update from Pure Energy Minerals Ltd.
[{"type":"text","content":" DENVER, Oct. 30, 2018 (GLOBE NEWSWIRE) -- Pure Energy Minerals Limited (TSX VENTURE:PE) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) announces a management restructuring under which the board of directors is assuming day-to-day leadership of the Company for a period of time. Mr. Patrick Highsmith and Mr. Paul Zink have tendered their resignations from the Company as CEO and CFO, respectively, effective 31 October 2018. Mr. Highsmith joined the Company as a member of the board of directors in November 2015 and later accepted the role as CEO in March of 2016. The board of directors wishes to thank him for his strong technical and market leadership and dedicated service to the Company. Mr. Highsmith will be pursuing other opportunities, but will remain a member of the Pure Energy board of directors. Mr. Zink joined the Company in June of 2017 as CFO. He has had a long career in the mining industry, spanning roles as analyst on Wall Street through to senior management positions in small to medium sized mining companies. The Pure Energy team wishes Mr. Zink good fortune as he pursues other opportunities. He will continue to be engaged with the Company on a consulting basis as needed. Mr. Frank Wells, an independent director and chairman of the audit committee, has assumed the role of interim CFO for Pure Energy Minerals. Mr. Wells is a seasoned mining industry financial analyst and corporate officer. Independent director, Ms. Mary Little, commented about the new path for Pure Energy, “We are engaged in discussions with potential new strategic investors and partners in regard to securing financing that would allow us to ramp the Clayton Valley Project back up and progress towards building the pilot plant. The board of directors is also engaged in an active search for a new CEO. Upon successful closure of a financing, we expect to see project activity increase markedly as the technical team remains engaged.” Ms. Little also commented about the departures from the management team, “I have worked with Patrick for almost three years now in Pure Energy. He has helped us deliver excellent technical work on the Clayton Valley Project, including the Preliminary Economic Assessment and the basic design for the pilot plant, which is the next major milestone for the project. We look forward to realizing some of the goals in 2019 that we...