|By Marketwired .||
|December 18, 2013 02:47 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/18/13 -- Full Metal Zinc Ltd. (the "Company") (TSX VENTURE: FZ) is pleased to report that at its Annual General Meeting, held on December 12th, 2013 in Vancouver, British Columbia, Adrian Fleming, Michael Williams, Al Paterson and Cale Moodie were re-elected to the Board of Directors. In addition, Doug Ramshaw and Sergio Covarrubias were elected to the Board.
Aaron Keay and Rob McLeod did not stand for re-election to make way for the new appointments. The Board would like to extend its thanks to both Mr. McLeod and Mr. Keay for their service to the Company over the past two years.
As part of the Company's reorganization of management, Doug Ramshaw was appointed as President and Chief Executive Officer while Michael Williams, who had been acting in the capacity of interim President and Chief Executive Officer will serve as Executive Chairman. Mr. Ramshaw, a former mining analyst, is a mining geologist who graduated in 1992 from the Royal School of Mines, London and has been involved in raising over $100 million in equity financings for the mining industry during his 20-year career.
In addition, shareholders approved both the appointment of KPMG LLP as auditors for the coming year as well as the Company's stock option plan.
The Company is in the process of concluding a name change to more accurately reflect its new direction as it proceeds with its planned acquisition of the San Andres silver project in Mexico (see Press Release #2 dated August 29th, 2013).
The Company has also sought and received exchange approval for the terms of the financing announced on August 29th to be amended. The financing has been increased to a maximum of $1.15 million (previously $1 million) and the unit has been changed to include a full common share purchase warrant instead of the half-warrant, as previously announced. The unit price and warrant exercise price remain unchanged. The San Andres acquisition and associated financing are both anticipated to close in January 2014.
ON BEHALF OF THE BOARD OF DIRECTORS
Doug Ramshaw, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
Full Metal Zinc Ltd.
President & CEO