MONTREAL, May 22, 2014 /CNW Telbec/ - Maudore Minerals Ltd. (MAO: TSX Venture Exchange; MAOMF: US OTC; M6L: Frankfurt Exchange) ("Maudore" or the "Corporation") is pleased to report that all resolutions presented for approval at its annual and special meeting of shareholders held on May 22, 2014 (the "Meeting") have been approved.
George Fowlie, Daniel Harbour, Keith Harris, Robert Pevenstein, Gregory Struble and Raynald Vézina have been elected as directors of the Corporation and Raymond Chabot Grant Thornton LLP have been re-appointed as auditors of the Corporation for the year ending December 31, 2014.
Finally, the shareholders of the Corporation eligible to vote on the matter have approved the previously announced financing and debt restructuring transactions entered into by the Corporation with FBC Holdings S.à r.l., marking an important step towards the financial rehabilitation of the Corporation.
Following the conclusion of the Meeting, the Board of Directors of the Corporation named George Fowlie as the Chairman of the Board, and confirmed the appointments of Greg Struble as President and Chief Executive Officer and Claudine Bellehumeur as Chief Financial Officer.
Commenting on these latest developments, Greg Struble stated that he would like to "personally thank all our shareholders and employees for their continued support through this time of transition for Maudore. It has taken an incredible amount of teamwork and perseverance on all fronts to get us to this point in our strategic path. Now, with the strong support from our financier, we will continue to work toward transitioning Maudore into a long-term profitable Québec junior gold producer."
About Maudore Minerals Ltd.
Maudore is a Québec-based junior gold company in production, with mining and milling operations as well as more than 22 exploration projects. Five of these projects are at an advanced stage of development with reported current and historical resources and mining. Currently, gold production is ramping up at the Sleeping Giant mine. The Corporation's projects span some 120 km, east-west, of the underexplored Northern Volcanic Zone of the Abitibi Greenstone Belt and cover a total area of 1,285 km² with the Sleeping Giant Processing Facility within trucking distance of key development projects.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Maudore Minerals Ltd.
For further information:
President and Chief Executive Officer
+1 647 927 0239
Chairman of the Board
+1 416 587 9801
Chief Financial Officer
+1 819 825 4343