Morien Announces Appointment of CFO
July 4, 2016 – Halifax, Nova Scotia – Morien Resources Corp. (“Morien” or the “Company“) (TSXV:MOX), is pleased to announce the appointment of Mike O’Keefe as Chief Financial Officer (“CFO”) of the Company effective July 1, 2016. Mr. O’Keefe, CPA, CMA replaces Ken MacDonald, CPA, CA who has resigned as CFO. Mr. MacDonald became CFO of Erdene Resource Development Corp. (“Erdene”) in 2003 and continued in the position of CFO for both Erdene and Morien after the corporate restructuring in 2012. With significant advances in both companies over the past 12 months the decision has been made to have separate CFO professionals for each company, with Mr. O’Keefe assuming the role of CFO in Morien and Mr. Macdonald remaining in the position of Vice President and CFO of Erdene.
Prior to being appointed CFO of Morien, Mr. O’Keefe was Director of Finance for the Company. Mr. O’Keefe is also Director of Finance for Erdene Resource Development Corp. (TSX:ERD), independent Director of Nova Leap Health Corp. (TSXV:NLH.P) and has worked in varied senior finance positions with both public and private companies over more than 20 years.
The Board of Directors of the Company granted 150,000 options pursuant to the Company’s stock option plan to certain officers and employees of the Company. The options are exercisable until June 30, 2021 at $0.31 per share.
Morien is a Canadian mining exploration and development company, focused on unique mineral industry opportunities in North America with a portfolio of long-life royalty assets and a strong cash position. Morien has 53,857,114 issued and outstanding common shares and a fully diluted position of 59,401,342. Further information is available at www.MorienRes.com.
Some of the statements in this news release may constitute “forward-looking information” as defined under applicable securities laws. These statements reflect Morien’s current expectations of future revenues and business prospects and opportunities and are based on information currently available to Morien. Morien cautions that actual performance will be affected by a number of factors, many of which are beyond its control, and that future events and results may vary substantially from what Morien currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include risks and uncertainties described in Morien’s annual information form filed with the Canadian Securities regulators on SEDAR (www.sedar.com). Morien cautions that its royalty revenue will be based on production by third party property owners and operators who will be responsible for determining the manner and timing for the properties forming part of Morien’s royalty portfolio. These third party owners and operators are also subject to risk factors that could cause actual results to differ materially from those predicted herein including: volatility in financial markets or general economic conditions; capital requirements and the need for additional financing; fluctuations in the rates of exchange for the currencies of Canada and the United States; prices for commodities including gold, coal and aggregate; unanticipated changes in production, mineral reserves and mineral resources, metallurgical recoveries and/or exploration results; changes in regulations and unpredictable political or economic developments; loss of key personnel; labour disputes; and ineffective title to mineral claims or property. There are other business risks and hazards associated with mineral exploration, development and mining. Although Morien believes that the forward-looking information contained herein is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Morien expressly disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
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.
For more information, please contact:
John P.A. Budreski, President and CEO
Phone: (416) 930-0914
Dawson Brisco, P.Geo, Vice President of Corporate Development
Phone: (902) 466-7255