Morien Appoints William Ritchie to its Board of Directors
January 27, 2016 – Halifax, Nova Scotia – Morien Resources Corp. (TSX-V:MOX) (“Morien” or the “Company”), is pleased to announce the appointment of J. William (Bill) Ritchie to the Company’s Board of Directors.
Mr. Ritchie will serve as a non-executive, independent member of the Morien board, effective immediately. Mr. Ritchie’s distinguished career includes having been chair and CEO of Scotia Bond Ltd., as well as being one of the founders of Keltic Savings Corporation Limited. Over the years, Mr. Ritchie has served on boards of companies including Empire Company Ltd., Sobeys Inc., Keltic Inc., DHX Media Ltd., King Insurance and e-Academy Inc. Mr. Ritchie is currently chairman and director of SimplyCast Interactive Marketing Ltd., and a director of Kivuto Solutions Inc., and Watts Wind Inc. His important contributions to the local business community were recognized when he was inducted into the Nova Scotia Business Hall of Fame in June 2010. In connection with Mr. Ritchie’s appointment as a new director, the Board of Directors of the Company granted Mr. Ritchie 125,000 stock options pursuant to the Company’s stock option plan. The options are exercisable until January 26, 2021, at $0.22 per share.
Morien is a Canadian mining exploration and development company, focused on unique mineral industry opportunities in North America with a diversified portfolio of long-life royalty assets and a strong cash position. Morien has 55,099,614 issued and outstanding common shares and a fully diluted position of 60,551,342. 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 forwardlooking 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, Manager Corporate Development
Phone: (902) 466-7255