TORONTO, Jan. 23, 2012 /CNW/ - Armistice Resources Corp. (TSX: AZ) today
announced the appointment of Stephen C. Akerfeldt to its Board of
Directors. Mr. Akerfeldt succeeds James O'Donnell who is retiring from
"With Armistice moving towards becoming Ontario's and Canada's newest
gold producer, we are very pleased to have been able to attract to our
Board an individual with Mr. Akerfeldt's broad business, finance, and
accounting experience," said Todd J. Morgan, President and Chief
Executive Officer. "Mr. Akerfeldt, who is a chartered accountant, has
held senior executive and Board positions in various industries,
including at Magna International Inc., where his responsibilities
included serving as Vice-Chairman and Chief Financial Officer.
"At the same time, we regret losing to retirement Mr. O'Donnell who has
provided us valuable advice as a director of our company for the past
four years as we worked to bring our McGarry gold mine into production
and expand our land position with the strategic acquisition of the
adjacent Kerr-Addison property. We thank Mr. O'Donnell for his valuable
counsel during these past four years to Armistice Resources," Mr.
Since 1999, Mr. Akerfeldt has served as a director and President of Ritz
Plastics, Inc., a privately owned company that produces plastic parts
primarily for the automotive industry. In January 2003, he joined the
Board of Directors of Jura Energy Corporation, a TSX-listed
international energy company engaged in exploration development, and
production of petroleum and natural gas properties. He served as Jura's
Chairman from January 2003 until March 2007 and also acted as its
interim President and Chief Executive Officer from February 2003 until
Since June 2011, Mr. Akerfeldt also has been a director of KOV, an
international oil and gas exploration company. He has provided
consulting services to various companies and was a director and
Chairman of Firstgold Corp from June 2007 until February 2011. Mr.
Akerfeldt holds a B.A. degree from the University of Waterloo and
became a chartered accountant in 1970. After joining Coopers & Lybrand,
he rose to become a partner in the accounting firm.
About Armistice Resources Corp.
Armistice Resources, a Canadian-based exploration and development
company began hoisting and stockpiling operations in December 2011 from
its McGarry gold mine in the Kirkland Lake area of northeastern
Ontario. The McGarry Mine is located in Virginiatown on the prolific
Larder Lake-Cadillac Break that extends 200 km east-west straddling the
Ontario and Quebec border and that has produced 95 million ounces of
gold. The McGarry Mine is adjacent to the former Kerr-Addison Gold Mine
that produced more than 11 million ounces of gold. Armistice has signed
a definitive five-year option agreement for the purchase of up to 100
percent of the mineral rights on the Kerr-Addison property. The McGarry
Mine consists of 33 contiguous patented mining claims, including three
licenses of occupation, totaling 484 hectares. Armistice Resources is
listed on the Toronto Stock Exchange (Symbol: AZ) and currently has
184,960,971 common shares issued and outstanding. To find out more
about Armistice Resources, please visit the company's website at www.armistice.ca.
This news release contains forward-looking statements, including current
expectations on the timing of the commencement of production and the
rate of production, if commenced. These forward-looking statements
entail various risks and uncertainties that could cause actual results
to differ materially from those reflected in these forward-looking
statements. Such statements are based on current expectations, are
subject to a number of uncertainties and risks, and actual results may
differ materially from those contained in such statements. These
uncertainties and risks include, but are not limited to, the strength
of the Canadian economy; the price of gold; operational, funding, and
liquidity risks; the degree to which mineral resource estimates are
reflective of actual mineral resources; and the degree to which factors
which would make a mineral deposit commercially viable are present; the
risks and hazards associated with underground operations. Risks and
uncertainties about Armistice Resources' business are more fully
discussed in the company's disclosure materials, including its annual
information form and MD&A, filed with the securities regulatory
authorities in Canada and available at www.sedar.com and readers are
urged to read these materials. Armistice Resources assumes no
obligation to update any forward-looking statement or to update the
reasons why actual results could differ from such statements unless
required by law.
SOURCE Armistice Resources Corp.
For further information:
President, CEO and Chairman
Todd J. Morgan
Armistice Resources Corp.
Investor and Media Relations
Richard W. Wertheim
Wertheim + Company Inc.
416-594-1600 ext. 223