VANCOUVER, May 27, 2014 /CNW/ - The Board of Directors of Callinex Mines Inc. (the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it has unanimously appointed Max Porterfield as Chief Executive Officer and President effective June 1, 2014 and as a director of the Board effective immediately. Mike Muzylowski will step down as interim CEO and President and remain Chairman of the Board of Directors.
Mr. Muzylowski stated, "Thanks to the dedication of the Callinex team and long-term support from the Company's shareholders, we have continued to advance our projects despite weakness in the natural resources sector. Max is the right leader to tackle the challenges ahead, with his diverse and unique experience in natural resources and his access to global capital markets. I will continue to provide leadership and technical expertise to Max as he aggressively grows the Company."
Mr. Porterfield stated, "Given Callinex's exceptional technical team, supportive shareholder base and tight capital structure, the Company possesses unique strengths to stand out amongst its peers. I firmly believe in Callinex's future and I'm committed to creating value. We must efficiently allocate our capital and focus our team on projects with the highest potential to deliver returns for our shareholders."
Mr. Porterfield added: "I wish to extend my personal appreciation to Mr. Muzylowski for all he has accomplished and look forward to working closely with him on the next chapter of his Hall of Fame career."
Mr. Porterfield, located in Vancouver, is an executive with over eight years of experience within natural resources and financial markets. Previously, Mr. Porterfield managed investor relations for two well respected resource companies, Brazil Resources Inc. (TSX-V: BRI) and Uranium Energy Corp (NYSE-MKT: UEC). In addition, Mr. Porterfield was previously Vice-President of Institutional Services at U.S. Global Investors, a boutique investment management firm with a longstanding history of expertise in precious metals and natural resources. He is a graduate of Texas Tech University, with a bachelor's degree in business administration.
The Company today further announced that Gordon Slade, an independent director, has resigned effective immediately. Mr. Muzylowski and all Board members express their deep gratitude to Mr. Slade for his dedication to the Company since inception.
About Callinex Mines Inc.
Callinex Mines Inc. is a mineral exploration company currently focused on the exploration and development of its wholly owned Neuron graphite property in Northern Manitoba near Thompson. The company owns a portfolio of Canadian exploration assets in various stages of development. The portfolio consists of gold, silver, copper, molybdenum, lead, zinc, and nickel projects. The company was incorporated in 2011 and is based in Vancouver, Canada.
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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Callinan does not assume the obligation to update any forward-looking statement.
SOURCE: Callinex Mines Inc.
For further information: Callinex Mines Inc., Mike Muzylowski, Chief Executive Officer, Phone: (604) 605-0885, E-mail: [email protected]