|Mon Jul 16, 2012|
APM Announces Appointment of Charles G. Pitcher to its Board of Directors
|Halifax, Nova Scotia - July 16, 2012 - Advanced Primary Minerals Corporation (the "Corporation" or "APM") (TSXV: APD) is pleased to announce that the Corporation's board of directors ("Board") has approved the appointment of Charles G. Pitcher as an independent member of the Board. The Board has also appointed Mr. Pitcher to the independent committee of the Board that was authorized to negotiate with Erdene Resource Development Corp. ("Erdene") for the purchase of the Donkin coal project.|
"We are very pleased to have Charles Pitcher join the APM Board. As a mining engineer with extensive underground coal mining experience, Charles will bring valuable experience to the Corporation and the Donkin project," said Ken MacDonald, President and CEO of APM.
In 2012, Charles Pitcher became President and COO of Wilson Creek Coal, LLP, a wholly owned subsidiary of Corsa Coal of which he is currently a Director. Charles has held senior management and board positions with some major coal and precious metal mining companies. Between 2002 and 2008 Charles was CEO and Director of Western Coal Ltd. and in 2009 was a Director of PBS Coal Ltd. During 2010 and 2011 he was CEO and Director of United Silver Corp.
Erdene currently owns approximately 60% of the issued and outstanding shares of the Corporation. By way of a statutory plan of arrangement, Erdene intends to deliver to Erdene shareholders all of its existing APM shares and those APM shares to be issued to Erdene on the transfer of its North American property assets to APM, such that the Corporation would then be substantially owned by Erdene's shareholders. Upon completion of the Erdene transaction, the Corporation will be a Nova Scotia based, coal-focussed development company with the Donkin Coal Project as its principal asset.
The Erdene transaction is subject to signing a definitive agreement, receipt of approvals from the TSX, the TSX-V, the Nova Scotia Supreme Court, the shareholders of Erdene and the minority shareholders of APM, as well as compliance with all other requirements governing related party transactions, including obtaining independent valuations. The appointment of Charles Pitcher to the Board is also subject to approval from the TSX Venture Exchange.
APM has 26,342,963 shares issued and outstanding and a fully diluted share position of 28,887,629 shares.
For more information, please contact:
Ken W. MacDonald, President and CEO, Advanced Primary Minerals Corporation
Phone: (902) 466-7255
Philip S. Martin, Chairman of the Board of Advanced Primary Minerals Corporation
Phone: (416) 788-6030
For additional information visit APM's website at www.advminerals.com or contact the company via email at firstname.lastname@example.org
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.
You can view the Next News Releases item: Wed Aug 8, 2012, APM Finalizes Terms to Acquire the Donkin Coal and Other North American Assets
You can view the Previous News Releases item: Tue Jul 3, 2012, APM Completes Sale of Dearing Operating Assets
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