Calgary, Alberta (February 5, 2018) – PRIZE MINING CORPORATION (“Prize” or the “Company”) (TSXV:PRZ) (OTCQB:PRZFF) (MQSP:GR:FRANKFURT) is pleased to announce that as of February 1, 2018 Michael McPhie, a Director of the Company, has stepped into the President and CEO position while Feisal Somji has taken on the Executive Chairman role. The Company issued to Michael 600,000 stock options with an exercise price of $0.50 in consideration of his expanded role with the Company.
“We are extremely pleased that Michael has agreed to come on board as management of the Company and to help drive our focus on the Manto Negro Copper Project in Mexico and continue to advance our projects in southeastern British Columbia” stated Feisal Somji, Executive Chairman of the Company. “Michael joined our board in July, 2017 (see press release dated July 6th, 2017) and brings to the team more than twenty years of experience in successful mine project development and operations. His recent executive level experience with companies including Curis Resources with the Florence Copper Project which was sold to Taseko Mines, Exeter Resources, IDM Mining and JDS Energy and Mining will benefit Prize over the next few years. I am pleased to work beside Michael to grow Prize to the next level.”
“I am excited to work with the Prize Mining team and investors to create shareholder value” said Michael McPhie. “Our move into the copper space is both strategic and deliberate as we believe the market for this fundamental commodity will be very strong for many years to come. The Manto Negro Project has the potential to be a significant asset for Prize and I am looking forward to advancing this in the months ahead.”
Prize is pleased to also announce that Tom Pierce has been appointed as the Chief Financial Officer of the Company effective February 1, 2018. Tom has over twenty-five years of experience in the mining industry, most recently as a senior executive with a private mineral trading and investment company based in Singapore. Prior to that, he was Senior Vice President and Chief Commercial Officer at Grande Cache Coal LP. From 2009 to 2012, he was Vice President, Business Development with Grande Cache Coal Corporation. He also acted as Vice President, Finance and Chief Financial Officer with Grande Cache Coal and Controller with Fording Coal Limited. Tom has vast experience in financial accounting, corporate planning, mergers and acquisitions, IPO’s and marketing and holds the CPA designation. The Company issued to Tom 400,000 stock options with an exercise price of $0.50.
“Tom brings to us a wealth of public company and international accounting experience and we look forward to working with him to establish strong financial structure and controls as we increase our operations in both BC and Mexico” stated Feisal Somji, Executive Chairman.
The Company would like to thank Anthony Jackson who has stepped down as CFO effective January 31, 2018.
The Company issued to Raul Ramirez Morton, who joined the Board of Directors on January 11, 2018, 400,000 stock options with an exercise price of $0.50.
The Company also announces that the exercise price of the 1,150,000 common share purchase warrants (the “Warrants”) originally issued on December 13, 2017 has been reduced from $0.65 to $0.50 per share. The application for the reduction of the exercise price of the Warrants has been accepted by the TSX Venture Exchange.
About Prize Mining Corporation
Prize is a Calgary-based junior mining issuer with offices in Calgary, Alta., and is listed on the TSX Venture Exchange. Prize is engaged in the acquisition, exploration and development of mining properties. For further information: www.prizemining.com or please contact Walter Spagnuolo, Investor Relations by telephone at 403.236.2222 or email at firstname.lastname@example.org
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.