Philippine Metals, a Calgary, Alberta-based company focused focused on the discovery and development of copper and copper-gold deposits in the Philippines, has announced that executive Feisal Somji has resigned as CEO and as a board member, effective immediately. No reason is being given. Somji is being replaced as CEO by Craig Lindsay, another of the company’s board members. Lindsay is also currently the president and CEO of Otis Gold Corp., and a managing director of Arbutus Grove Capital Corp.
Philippine Metals Inc. (“Philippine Metals” or the “Company”) (tsx venture:PHI)(frankfurt:PM7) announces that Mr. Feisal Somji has resigned from his positions of Chief Executive Officer and member on the Board of Directors of the Company, effective immediately.
Mr. Marshall Farris, President of Philippine Metals Inc. stated: “On behalf of the company’s management and board of directors, we wish to thank Mr. Somji for his significant contributions to the company since its inception and wish him all the best in his future endeavours.”
The Company further announces the appointment of Mr. Craig Lindsay to the position of Chief Executive Officer. Mr. Lindsay, a member of the Board of Directors of the Company, has in excess of 20 years experience in corporate finance, investment banking and business development in both North America and Asia and is currently the President and CEO of Otis Gold Corp. and Managing Director of Arbutus Grove Capital Corp., a private company offering corporate finance and merchant banking services. Mr. Lindsay is a former resident of Hong Kong where he was a senior executive at The Pacific Rim Group, which provided financial advisory, venture capital and related services to Asian and North American clients. He was a co-founder and CFO of OneAsia.com, an innovative B2C internet retailer of Asian language entertainment products, which was acquired by tom.com Limited, a company associated with Hutchinson Whampoa Ltd. Mr. Lindsay has extensive experience in the natural resource sector at the Director and Officer level, and currently sits on the board of Tarsis Resources Ltd.
About Philippine Metals Inc.
Philippine Metals Inc. is focused on the exploration, discovery and development of highly prospective copper and copper-gold deposits in the Philippines. Based on the region’s geological environment, the Company’s management team recognizes the country’s potential for hosting large, world-class deposits of copper and copper-gold.
The Company’s initial projects, Taurus, Malitao and Dilong, are examples of management’s ability to source quality, highly prospective targets. The management team combines strong financial capabilities with world-class experience in mineral exploration, discovery and mine development.
ON BEHALF OF THE BOARD OF PHILIPPINE METALS INC.
Marshall L. Farris, President and Director
Neither the 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.