Merc International Minerals-Management Changes
31 August 2010 - 7:15PM
Marketwired
Merc International Minerals Inc. ("Merc" or the "Company") (TSX
VENTURE: MRK) announced today that Michael Byron, President and
Chief Executive Officer, has resigned his position with Merc in
accordance with the terms of his employment contract. Dr. Byron
will stay on as a Director with Merc to assist the Company in the
further development of the Damoti Lake Gold Project.
David Wiley has been appointed Chief Executive Officer on an
interim basis to ensure operations are transitioned smoothly to a
new Chief Executive Officer. Mr. Wiley is a Founding Partner of
Raven Hill Partners, a Toronto-based merchant banking company. Mr.
Wiley co-founded in 2004 Phoenix Coal (now Elgin Mining Inc.), a
Toronto Stock Exchange listed mining company, and served as a
director and CEO until 2010. Prior to joining Phoenix Coal, Mr.
Wiley was the Managing Director with MHI Energy Partners (an energy
private equity fund) and the Chief Investment Officer of an
investment firm that he co-founded in 1996 to advise a New
York-based hedge fund.
Mr. Wiley was quoted as saying, "We would like to thank Dr.
Michael Byron for his contribution to Merc in advancing the Damoti
Lake Gold Project over the past two years. Our current emphasis
will be to find a permanent replacement for Dr. Byron at the
executive level while expanding on our recently announced
successful drill program. Furthermore, we will continue developing
an attractive regional platform to grow the Company's footprint in
the Northwest Territories by identifying and assessing compelling
local mining assets. We look forward to growing shareholder value
by building upon our asset base, attracting talented employees and
meeting milestones in the short and long term."
This news release may contain forward-looking statements based
on assumptions and judgments of management regarding future events
or results. Such statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements.
Merc disclaims any intention or obligation to revise or update such
statements.
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.
Contacts: Merc International Minerals Inc. David Wiley
647-260-1247 info@mercinternational.ca www.mercinternational.ca
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