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Maritime Resources Corp. (TSXV:MAE) announced the appointment of Mr. Andrew Pooler to the Board of Directors, as well as the engagement of Mr. Doug Hurst as an Advisor. The Company also announced a loan arrangement for a term of one year whereby the Company will borrow up to $400,000.
As quoted in the press release:
Mr. Pooler holds a Bachelor of Science degree in Mining Engineering from the University of Idaho and has more than 30 years of experience as a mining engineer and operations executive. His most recent role was as Chief Operating Officer of Esperanza Resources Corp., prior to which he served as the Chief Executive Officer of PanTerra Gold Limited. Mr. Pooler spent 5 years with Abacus Mining and Exploration Corp. as Chief Operating Officer, where he had a key role in the advancement of the Ajax deposit. He also spent 5 years as Senior Vice President, Mine Operations, for Pan American Silver Corporation where he was responsible for the production performance of six operating mines located in Mexico, Peru, Argentina and Bolivia.
Mr. Hurst has over 25 years of experience in the mining/resource industries having acted as geologist, consultant, mining analyst, and senior executive. Mr. Hurst holds a Bachelor of Science in geology from McMaster University (1986). He was a mining analyst with McDermid St. Lawrence and Sprott Securities and a contract analyst to Pacific International Securities and Octagon Capital up until 1995. From 1995 to 2003 Mr. Hurst operated D.S. Hurst Inc. a company offering corporate, evaluation and financial consulting services to the mining industry. He was a founding executive of International Royalty Corporation from 2003 to 2006 and a director of the company until 2010 when the company was purchased by Royal Gold for $700 million.
The Board of Directors has authorized management to proceed with a loan arrangement for a term of one year whereby the Company will borrow up to $400,000. Under the terms of the loan agreement, lenders will be paid 10% interest and will receive a 20% bonus, payable in shares of the Company at a deemed price of $0.15 per share. The proceeds will be used to continue exploration work on the Company’s Green Bay property, Newfoundland and for general working capital.
Click here to read the Maritime Resources Corp. (TSXV:MAE) press release
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