VANCOUVER, Nov. 29, 2019
/CNW/ - Boreal Metals Corp. ("Boreal" or the
"Company") (TSXV:BMX) announces that Karl Richard Antonius'
position as President of the Company has been terminated for cause.
Mr. Antonius failed to make timely and adequate disclosure to the
Company's Board of Directors of his role in court proceedings in
British Columbia that have been
the subject of media reporting this week. Mr. Antonius is no longer
an officer or employee of the Company.
Prior to media reports this week the Company's Board of
Directors had not been made aware of the nature of charges made
against Mr. Antonius or his defence to them.
The Company has requested Mr. Antonius' immediate resignation as
a director of the Company failing which the Company intends to take
steps to remove Mr. Antonius as a director.
Boreal will make no further comment on this matter as it is
currently before the courts.
About Boreal Metals Corp.
Boreal is a mineral exploration company focused on the discovery
of silver, zinc, copper, and gold deposits in exceptional,
historical mining project areas spanning Sweden and Norway. The Company aims to discover new
economic mineral deposits in known mining districts that have seen
little or no modern exploration. The Company is led by an
experienced management team and technical team, with successful
track records in mineral discovery, mining development and
financing.
On behalf of Boreal Metals Corp.
Patricio Varas, Chief Executive
Officer
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed
"forward‐looking statements". Forward‐looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. Although Boreal Metals Corp.
believes the expectations expressed in such forward‐looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, are subject to risks and
uncertainties, and actual results or realities may differ
materially from those in the forward‐looking statements. Such
material risks and uncertainties include, but are not limited to,
Boreal Metals Corp.'s ability to raise sufficient capital to
maintain its mineral tenures and concessions in good standing, to
explore and develop its projects, to repay its debt and for general
working capital purposes; changes in economic conditions or
financial markets; the ability of Boreal Metals Corp. to obtain the
necessary permits and consents required to explore, drill and
develop the projects and if obtained, to obtain such permits and
consents in a timely fashion relative to Boreal Metals Corp.'s
plans and business objectives for the projects; the general ability
of Boreal Metals Corp. to drill test its projects and find mineral
resources; if any mineral resources are discovered or acquired, the
Company's ability to monetize any such mineral resources; and
changes in environmental and other laws or regulations that could
have an impact on the Company's operations. Forward‐looking
statements are based on the reasonable beliefs, estimates and
opinions of Boreal Metals Corp.'s management on the date the
statements are made. Except as required by law, Boreal Metals Corp.
undertakes no obligation to update these forward‐looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
SOURCE Boreal Metals