VANCOUVER, July 13, 2016 /CNW/ - Gold Mountain Mining Corporation (TSX-V:GUM) (the "Company" or "Gold Mountain") announces the appointment of Mr. Mathew Hornor as a Director of the Company.
Mr. Hornor has spent more than 16 years in senior executive positions with development and operating mines. Since August 2009 until May 31, 2016, Mr. Hornor served as an Executive Vice President at Ivanhoe Mines Ltd and served as its Executive Vice President of Business Development and Legal since May 2010. He has provided advisory services to Ivanhoe Mines since August 2005. Mathew has participated in the structuring and execution of complex financial transactions and capital raising activities plus has extensive merger and acquisitions experience in a wide variety of geo-political environments.
Before directly entering the mining business, Mr. Hornor worked as a Senior Associate with the international law firm, Paul, Hastings, Janofsky & Walker, LLP in Tokyo, Japan, representing Japanese clients in various out-bound cross border transactions and top-tier U.S. investment banks primarily in Japan and South East Asia in various corporate finance projects and merger and acquisition transactions totalling several billion dollars in the aggregate.
Mr. Hornor is a graduate of the University of Virginia School of Law (Juris Doctorate- 1999). Mr. Hornor received two Japanese Ministry of Education (Mombusho) fellowships for graduate and post-graduate studies at Tohoku University in Sendai and at Tokyo University in Law and Economics respectively.
"We are extremely pleased to have a person of Mathew's stature join our Gold Mountain team. Mathew has extensive experience in business, management and financings that will expedite the development plans for the existing Elk property and M&A opportunities. In addition, Mathew's background and experience will add significant value to focus our efforts to pursue near term precious metal production assets as we move towards becoming a mid-tier gold producer".
The Company also announces that Michael Varabioff, Duane Poliquin, Leo King, and Morgan Poliquin have resigned as directors of the Company. The Board and the Company would like to thank Mr. Varabioff, Mr. D. Poliquin, Mr. King, and Mr. M. Poliquin for their contributions and faithful service to Gold Mountain Mining Corporation over the years.
With the addition of the new director and the resignations of four directors, the Company now has a total of four directors remaining on the board. The Company has granted 250,000 share purchase options to the remaining directors that are exercisable at a price of $0.22 per share purchase option for a period of five years.
About Gold Mountain Mining
Gold Mountain is a public resource company managed by an experienced team of professionals with a solid track record of exploration, development and operational success. The Company owns 100% of the 16,700 hectare Elk Gold property, which it intends to develop into a precious metal producer, and is also seeking additional near term production assets to further build shareholder value. Additional information is available at www.sedar.com or on the Company's website at www.aumtn.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
ON BEHALF OF THE BOARD
Chris McLeod, P Eng., Chief executive Officer
Forward-Looking Statements: This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the closing of further tranches of the Offering, the use of proceeds from the Offering and the Company's plans with respect to the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE Gold Mountain Mining Corporation
For further information: Chris McLeod, Chief Executive Officer, or Rod Shier, Chief Financial Officer, of Gold Mountain Mining Corporation, at 604 558-4653.