Meryllion Resources Corp. Announces Changes to Its Board of Directors and Management
Toronto, August 4, 2020 - Meryllion Resources Corp. (CSE: MYR), ("Meryllion" or the "Corporation") is pleased to announce a number of changes to it Board of Directors and the composition of its management.
Mr. Ben Gelfand has resigned as a director and as Chief Executive Officer of the Corporation, and Mr. Frank Kordy has resigned as a director and as Interim Chief Financial Officer and Corporate Secretary of the Corporation.
Mr. Jeremy Edelman and Mr. David Steinepreis have been appointed as replacement directors of the Corporation, and Mr. Guy Charette has been appointed as an additional director of the Corporation. Mr. Edelman has been appointed the Chief Executive Officer of the Corporation. Mr. Steinepreis has been appointed as the Chief Financial Officer of the Corporation. Mr. Michael Kozub has been named the Corporate Secretary of the Corporation.
Mr. Edelman is an admitted solicitor to the Supreme Courts of Western Australia and New South Wales. He worked for some for the world's leading investment banks, including Bankers Trust and UBS Warburg, in debt and acquisition finance. He has held consulting and director positions in stock exchange listed companies in the UK and Australia with a focus on resource exploration and development including investment companies established with the specific objective of investing in oil and gas projects. Mr. Edelman also has experience in corporate finance, having been responsible for co-coordinating a number of companies in making acquisitions in a variety of resource sectors. He worked in various regions of the world including the Republic of Kazakhstan, Russia, South Africa and Australia. Mr. Edelman holds Bachelor degrees in Commerce and Law together with a Master's degree in Applied Finance.
Mr. Steinepreis is a chartered accountant and a Fellow of the Institute of Chartered Accountants of England and Wales and a member of the Institute of Chartered Accountants of Australia and New Zealand. He is a finance executive in the United Kingdom and a venture capitalist for mining, oil and gas and technology companies in many regions of the world.
Mr. Charette is a corporate finance lawyer with over thirty years of experience in the areas of securities, corporate finance as well as mergers and acquisitions in Toronto and Montreal. Although primarily involved in the resource sector, he has also been involved in other areas such as medical technologies, industrial companies as well as having acted for many underwriters on various types of securities offerings. His corporate finance activities have included projects in many parts of the world including Africa, Europe and South America. Mr. Charette has a particular expertise in developing innovative financial structures designed to match the needs of both issuers and investors. In addition, he has also served on many boards of directors over the years as well as having presented lectures on corporate and project finance to law students. Mr. Charette completed his Bachelor of Laws from the University of Ottawa in 1981 and was admitted to the Quebec Bar in 1982.
Mr. Kozub is a lawyer at Dunton Rainville LLP. Mr. Michael Kozub's principal areas of practice are securities, corporate finance, mergers and acquisitions and corporate/commercial law. Prior to returning to private practice, Mr. Kozub served, for a number of years, as General Counsel to a mineral exploration company listed on the Toronto Stock Exchange. He now advises clients across a range of industry sectors, including mining, resource exploration, cannabis and financial services. Mr. Kozub is a member of both the Barreau du Québec and the Law Society of Ontario.
The Corporation also announces that it proposes to settle outstanding directors' fees by way of issuance of 1,000,000 common shares in the capital stock of the Corporation at a deemed issue price of $0.01 per share to each of its two long-term independent directors, the whole subject to approval of the Canadian Securities Exchange. Such settlement constitutes a related party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Corporation will rely upon exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 contained in sections 5.5(a) and 5.7(1)(a), respectively, with respect to the settlement.
For further information please contact:
Mr. Jeremy Edelman
Director and Chief Executive Officer
Meryllion Resources Corp.
T: +61 455 553 363
E: jeremy@edelman.cc
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
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