TORONTO, ONTARIO--(Marketwired - July 24, 2015) - Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE:APE) and Scott Paterson, Chairman of Apogee, announce Management Changes and commentary on the Chairman's Shareholdings in the Company.
Fred Leigh Appointed CEO
The Company's Board of Directors has appointed Mr. Fred Leigh as Chief Executive Officer of the Company effective July 23, 2015. Mr Leigh has been involved in the junior resource sector for more than 30 years and has had a significant role as founder, director and/or investor in many public companies. He is also the founder and President of Siwash Holdings Ltd., a privately held company which, for over 23 years has invested in early stage opportunities in the resource sector.
Neil Said Appointed Corporate Secretary
In addition the Company is pleased to announce it has appointed Mr. Neil Said as the Corporate Secretary of the Company effective July 15, 2015.
Mr. Said is a corporate securities lawyer who works as a legal consultant to various TSX and TSX Venture listed companies in the mining, technology and oil and gas industries. Mr. Said obtained a Juris Doctor from the Faculty of Law at the University of Toronto and he received a Bachelor of Business Administration (Honours) with a minor in Economics from Wilfrid Laurier University.
The appointments follow the resignation of Jennifer Wagner, Interim CEO and Corporate Secretary of the Company. Ms. Wagner resigned to pursue other endeavors. The management and Board of the Company would like to thank Ms. Wagner for her service and continued support of the Company.
Apogee Chairman Scott Paterson's Comments on his Shareholdings
Scott Paterson reports that as of July 22, 2015 he owns directly or indirectly 693,000 shares representing 9.9% of the total common shares outstanding. He further reports that following the Company's stock consolidation (65 for 1) that took place on June 12, 2015 subsequent market purchases totalling 37,068 shares between prices of $0.18 and $0.34 were reported correctly and on a timely basis on SEDI however the number of shares outstanding post-consolidation was inadvertently not updated on SEDI resulting in an error in calculating his percentage shareholdings in the Company at that time. With this revised calculation, his holdings for the period from July 3, 2015 until July 20, 2015 would have been up to 10.5% of the outstanding shares with a maximum holding of 730,068 shares. Mr Paterson has subsequently donated 37,036 shares to charity to reduce his holding to 9.9%.
About Apogee Silver Ltd
Apogee Silver Ltd. is a mineral exploration and development stage company listed on the TSX Venture Exchange under the symbol APE. Apogee targets advanced, high grade silver-zinc-lead projects in South America.
Cautionary Note Regarding Forward-Looking Information:
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements, projections and estimates with respect to management changes and the potential effect of the proposed management and corporate changes. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Estimates underlying the results of the feasibility study arise from engineering, geological and costing work of TWP Sudamerica, Mercator Geological Services, P&E Mining Consultants and the Company. See the technical report relating to the feasibility study for a description of all relevant estimates, assumptions and parameters. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.