MONTREAL, July 19, 2012 /CNW/ - Maudore Minerals Ltd. (the "Company") (MAO: TSX Venture; MAOMF: US OTC; M6L: Frankfurt Exchange) announced
today that the Company and the Concerned Shareholders have settled
their outstanding issues resulting in the election of a new Board of
Directors comprising five nominees from the Concerned Shareholders and
two members from the management slate.
The new Board of Directors is comprised of: Kevin Tomlinson (Chairman),
Dr. Howard Carr, George Fowlie, Keith Harris, Daniel Harbour, Robert
Pevenstein and Raynald Vezina.
The new Board of Directors has appointed Howard Carr as the Company's
new Chief Executive Officer.
Ronald Shorr has resigned from the Company but will continue as a
consultant to the Company to ensure an orderly transition of
Kevin Tomlinson, the Company's new Chairman, commented: "We believe this
result is in the best interests of Maudore and its shareholders. The
new Board, and Howard Carr, our new CEO, are anxious to move Maudore
forward with a view to enhancing value for our shareholders."
The TSX Venture Exchange has not reviewed this release. 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.
SOURCE Maudore Minerals Ltd.
For further information:
Kevin Tomlinson, Chairman of the Board