June 26, 2009
MetalCorp Announces New CFO Appointment and Shareholder Meeting Results
Toronto, Canada (June 26, 2009) - MetalCorp Limited (TSX-V: MTC) is pleased to announce the appointment of a new, highly-qualified member to its management team. Beginning immediately, Michael C. Thompson, FCCA will assume the role of Vice President Finance and Chief Financial Officer. The appointment is subject to TSX Venture Exchange acceptance.
Mr. Thompson has over 30 years of Senior Financial and Operations management experience and has worked in the mining industry for the past 9 years, most recently as Senior Controller and Manager of Administration for North American Palladium Ltd (including V.P. Administration for their Lac des Isles mine). Mr. Thompson is a Fellow of The Association of Chartered Certified Accountants, UK.
As part of his compensation, Mr. Thompson was granted options to purchase 60,000 common shares of MetalCorp at an exercise price of $0.15 per share, one-half of which vest immediately and the remaining half will vest after 6 months; the options have a maximum term of 5 years, subject to earlier termination 30 days after ceasing to be an officer of MetalCorp.
"The Board of Directors of MetalCorp is both pleased and honoured to have Mr. Thompson join the management team of MetalCorp and bring with him such vast experience in the resource sector", commented Donald Sheldon, President and CEO.
"MetalCorp's Board of Directors and management are also pleased to report on the turn-out and support for the Board and management at the recent shareholder meeting," continued Mr. Sheldon. "Shareholders holding 23,165,421 shares representing more than 47% of MetalCorp's outstanding shares, attended in person or by proxy to re-elect the directors and re¬appoint auditors. Although a relatively small percentage of votes were withheld on the voting, no votes were cast against either decision. We would like to thank our shareholders for this overwhelming show of support and endorsement of the decisions that the Board of Directors has been implementing."
MetalCorp is a mineral exploration company based in Thunder Bay, Ontario with base metal and gold projects in the Canadian Shield of Northern Ontario, Canada, one of the most prolific mineral districts in the world. The projects, with an area of more than 65,000 acres, include the Big Lake copper-zinc-silver-gold property, the North Rock copper-nickel-platinum property, the new Python nickel-copper-zinc property and the new Fearless zinc-copper-gold property, all of which are under active exploration. MetalCorp's four gold projects, with a claim area of more than 20,000 acres, include the Dorset Joint Venture, Pickle Lake, Black Bear and Keezhik Lake properties.
MetalCorp has 49,106,636 common shares outstanding and approximately $1,700,000 in cash and no long-term debt. To find out more about MetalCorp visit its website at www.metalcorp.ca.
For further information, please contact:
Donald A. Sheldon, President and CEO
T: 416 595-0147
© 2017 MetalCorp Inc.