TORONTO, Nov. 26, 2018 /CNW/ - Aethon Minerals Corp. (TSX-V: AET) ("Aethon" or the "Company") announces that the board of directors (the "Board") has accepted the resignation of Robert Davies as President and Chief Executive Officer as well as a director of Aethon. Effective immediately, the Board has appointed John Miniotis, Vice President, Corporate Development as the Company's Interim Chief Executive Officer.
John Miniotis has over 14 years' experience in the mining sector, focused primarily on corporate development, equity capital markets, investor relations and corporate finance roles. Prior to joining Aethon he was Vice President Corporate Development at AuRico Metals until its acquisition by Centerra Gold in January 2018. From 2010 to 2016, John was an integral member of Lundin Mining Corporation's corporate development and investor relations team, including the acquisition of Freeport-McMoRan Inc.'s 80% ownership interest in the Candelaria mining complex in Chile.
Jens Mayer, Chairman of the Board said, "Aethon would like to thank Robert and we wish him well in his next endeavours. Furthermore, the Board and I look forward to working with John as he assumes this new role, and appreciate the contribution from him and other management while we engage in a recruitment process."
The Company also announces that it has modified the terms of the second option payment at the Llanos De Llahuin project from US$100,000 to US$50,000 and extended the payment date from November 15, 2018 to January 15, 2019. Aethon continues to maintain a very strong financial position, with a cash balance of approximately $5.2 million as of last quarter end.
About Aethon Minerals
Aethon Minerals is a mineral exploration company focused on creating value in the base metal space with an emphasis on copper mineral assets in Chile. The Company has consolidated a very large prospective land position consisting of over 130,000 hectares along prolific mining belts located in the Maricunga and Antofagasta regions of northern Chile. Aethon believes it is uniquely positioned for growth and is actively pursuing selective copper-focused growth opportunities. Aethon is based in Toronto, Canada, and is listed on the TSX-V under the stock symbol "AET".
This news release may contain forward-looking information, such as statements regarding future plans and objectives of the Company and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Statements or information in this news release which are not purely historical are forward-looking, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators which filings are available at www.sedar.com.
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.
SOURCE Aethon Minerals
For further information: please visit the Aethon Minerals website at www.aethonminerals.com or contact: John Miniotis, Interim Chief Executive Officer, Aethon Minerals Corp., [email protected], Tel: 416-306-8334