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TSX-Venture: Tier 2
VANCOUVER, June 2 /CNW/ - Amato Exploration Ltd. (the "Company" or "Amato") (TSX-V:AMT), (http://www.amatoexploration.com), regrets to announce that Jack Fugman, director since October 2009, has resigned for personal reasons. Amato's Board of Directors extends thanks to Mr. Fugman for his contribution to the Company. Amato welcomes as newly appointed directors, Messrs. Joseph Fodor and Dan Kostiuk to the board.
Mr. Fodor is a corporate lawyer with extensive experience in legal and corporate finance specializing in structuring domestic and international infrastructure projects. Since 2006, Mr. Fodor has been a partner with Watershed Capital Partners, a Vancouver based private investment banking firm and recently served as Executive Vice President for Adriana Resources Inc., a Canadian company focused on developing and expanding its domestic and international iron ore resources.
Mr. Kostiuk is a corporate lawyer who has provided legal advice, strategic planning, corporate governance and M&A advice to both public and private companies. He has advised in the setting up of onshore and offshore corporate structures and the implementation of resource transactions in various countries. Mr. Kostiuk has been a director and member of audit committees of four companies listed on the TSX Venture Exchange.
The Company also announces that it has granted an aggregate of 100,000 incentive stock options pursuant to its option plan to directors and consultants. The options are exercisable at a price of $0.30 per share until June 2, 2015.
NOMINEES FOR ELECTION OF DIRECTORS
The Company is pleased to announce that the number of directors to be elected at the upcoming Annual General Meeting ("AGM") will be set at five. The following nominees proposed for election as directors are existing directors: Martin Carsky, Joseph Fodor, Dan Kostiuk, Melvin Reeves and Ioannis (Yannis) Tsitos.
About Amato Exploration Ltd.
Amato Exploration Ltd. is a North American mineral exploration company based in Vancouver, B.C., Canada. We are currently focused on exploring the Colossio silver deposit in Mexico and seeking significant iron ore mineral properties globally.
This news release contains forward-looking statements which reflect management's current expectations regarding the Company's objectives, plans, goals, strategies, future growth, results of operations, performance and business prospects and opportunities. These forward-looking statements are not guarantees, but only predictions. Although the Company believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a number of factors that could cause actual results to vary significantly from current expectations. These factors and other risks and uncertainties are discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to time, as identified in the Company's disclosure record on www.sedar.com. The forward-looking statements included in this news release are made only as of the date of this news release and the Company does not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise, except as required by law.
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 news release.
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OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED
STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER
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SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR
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SOURCE AMATO EXPLORATION LTD.
For further information: For further information: Mr. Melvin R. Reeves, Chief Executive Officer, Amato Exploration Ltd., Tel: (604) 315-2559; Investor relations contact: Mr. John Bevilacqua, Acqua Capital Group., Tel: (604) 721-3000; For further information, please send enquires to firstname.lastname@example.org