TORONTO, May 12, 2014 /CNW/ - Jaguar Mining Inc. ("Jaguar" or the "Company") today announced the appointment of Jared Hardner to its Board of
Directors (the "Board") effective May 12, 2014. The term of his appointment is until the next
Annual General Meeting of the Company at which time he will stand for
election by the shareholders of the Company. Mr. Hardner has worked in
the environmental field for 21 years. Over the past decade, his work
has focused increasingly on the mining industry and he includes among
his clients Rio Tinto, Barrick Gold, Teck, First Quantum, and Newmont
Mining. His geographic experience includes the U.S., Canada, Africa,
Asia, Australia, and numerous countries in Latin America including
Brazil. He holds a Bachelor of Arts in Economics and Certificate in
Latin American Studies from Princeton University, and a Masters of
Forest Science from Yale University.
The Company also announces that Mr. R. David Russell has tendered his
resignation as a director of the Company, effective immediately. "We
wish to express our thanks to David in helping to implement the
recapitalization and restructuring of Jaguar's balance sheet, that took
place on April 22, 2014. Now, with a clean balance sheet and minimal
net debt, Jaguar is well positioned to continue its operational
restructuring and to capitalize on its extensive near mine exploration
activities and development projects," stated Mr. Dick Falconer.
The Company also announced that it has granted incentive stock options
pursuant to its stock option plan to officers and directors of the
Company for the purchase up to an aggregate of 1,994,735 common shares
of the Company. The options are exercisable at a price of $1.35 per
common share and will expire on May 12, 2022. The stock options will
vest in equal tranches over the next 24 months.
The Company also announced that it has granted an aggregate of 1,500,566
deferred share units ("DSU's") pursuant to its DSU plan to officers and directors of the Company.
Certain statements in this press release constitute "Forward-Looking
Statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities
legislation. Forward-Looking Statements can be identified by the use of
words such as "are expected", "is forecast", "is targeted",
"approximately" or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might", or "will" be taken, occur or be achieved. Forward-Looking
Statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results or performance to be
materially different from any future results or performance expressed
or implied by the Forward-Looking Statements.
These Forward-Looking Statements represent the Company's views as of the
date of this press release. The Company anticipates that subsequent
events and developments may cause the Company's views to change.
Factors which could cause results or events to differ from current
expectations include, among other things, actions taken against the
Company by governmental agencies and securities and other regulators
and other factors not currently viewed as material that could cause
actual results to differ materially from those described in the
Forward-Looking Statements. The Company does not undertake to update
any Forward-Looking Statements, either written or oral, that may be
made from time to time by or on behalf of the Company subsequent to the
date of this discussion except as required by law.
About Jaguar Mining Inc.
Jaguar is a junior gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais and owns the Gurupi
Project in Northeastern Brazil in the state of Maranhão. The Company
also owns additional mineral resources at its approximate
210,000-hectare land base in Brazil. Additional information is
available on the Company's website at www.jaguarmining.com.
SOURCE: Jaguar Mining Inc.
For further information:
Chief Financial Officer