Vancouver, British Columbia--(Newsfile Corp. - September 18, 2018) - M2 Cobalt Corp. (TSXV: MC) (the "Company") is pleased to announce that it has appointed Mahendra Naik to the Board of Directors of the Company with immediate effect.
Mr. Naik is a Chartered Professional Accountant and is one of the founding directors and key executives who started IAMGOLD Corporation ("IAMGOLD"), a TSX and NYSE listed gold mining company. As Chief Financial Officer of IMAGOLD from 1990 to 1999, he was involved in the negotiation of a number of mine joint ventures with Anglo American and was instrumental in arranging over $550m in debt and equity financings for IAMGOLD including its IPO. Since 2000, Mahendra has been a Director and member of the Audit and Compensation committees for IAMGOLD. Today IAMGOLD has a market capitalization of approx. CDN $2.5 Billion.
Mr. Naik is also the Chairman of the Board, Audit and Compensation Committees of Fortune Minerals Limited, a TSX listed company focused on the NICO cobalt-gold-bismuth-copper Project in the North West Territories. As Chairman of Fortune, Mr. Naik has been actively involved in helping to raise in excess of $100 million for Fortune and in the negotiation of several joint ventures. Mr. Naik is also a Director of Goldmoney Inc, a TSX listed precious metals financial services company and is involved in number of non-profit organizations including the Indus Entrepreneurs and Trillium Hospital Foundation.
Simon Clarke, Chief Executive Officer of the Company commented, "We are delighted that Mahendra has agreed to join our Board and assume the role of audit chair. He is well-respected and well-connected in the Capital Markets Globally and brings a wealth of expertise in helping to grow junior resource companies into world players. Mahendra is very well-versed in the cobalt markets and related metals and he has first-hand experience of developing a number of mining projects across Africa. His background and experience is a great fit for our Company, and we believe he will bring a lot of value to M2 Cobalt."
The Company also announces that Brian Morrison has been appointed Corporate Secretary to the Company with immediate effect.
About M2 Cobalt
M2 Cobalt Corp. is focused on discovering and developing world-class cobalt assets (and related minerals) to help address the growing deficit in the supply of cobalt. The Company has a large, highly prospective land package in the Republic of Uganda, East Africa bordering historic production and on the same mineral trends as some of the major mines in the neighbouring DRC where over 60% of world cobalt supply originates. Uganda is a stable country with a growing economy looking to re-energize its historic mining industry. The Company has a highly experienced management team and board of directors, which has been involved in funding and advancing resource projects globally. The Company also owns licenses over 2,800 hectares of land in the Cobalt Camp in Ontario, Canada. Further information on the Company and its projects can be found at www.m2cobalt.com.
On behalf of the Board,
M2 COBALT CORP.
Simon Clarke, Chief Executive Officer
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This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.