Montreal, Quebec / TNW-ACCESSWIRE / May 25th, 2015 - St-Georges Platinum and Base Metals Ltd. (US OTC: SXOOF) (CSE: SX) (FSE: 85G1) would like to provide a corporate update to its shareholders.
Changes to Management and Board of Directors
On May 21st 2015, director Guy Simard tended his resignation due to time constraints. Mr. William (Bill) Fleming has accepted the position of independent director on the board of St-Georges.
William (Bill) Fleming has founded and served as CEO for a number of entrepreneurial companies and has served with senior executive teams dealing with equity and debt financings. Mr. Fleming has developed corporate strategies for a wide range of companies, from family-owned businesses to multi-national companies. Mr. Fleming is the CEO and Director of Abattis Bioceuticals Corp and serves as a Director of NWest Energy Corp. Mr. Fleming has experience in raising equity for junior mining projects and has experience in mineral exploration programs.
Mr. Vivian Doyle-Kelly ceased to act as the CFO of the Company on May 22th 2015 and was replaced by Mr. Rick Barnett.
Mr. Barnett has extensive corporate experience as a CFO, Controller, and Secretary with over 20 years of accounting experience serving both public and private corporations. Rick's experience covers a wide range of companies producing oil & gas, resource & explorations, engineering, and research & development industries. Rick is a member of the Certified General Accountants of British Columbia.
Share for debt
The acquisition agreement for the Villebon project between St-Georges and Sheridan Platinum Group included an annual advance royalty payment starting at the end of year 3 (December 2012). $60,000 was accrued on St-Georges balance sheet in favor of Sheridan and one million shares will be issued as a Share for debt transaction. The amended agreement eliminates the advance royalty in favor of Sheridan in exchange for a 5% interest in the project and the engagement by St-Georges to deliver a NI 43-101 report no later than December 2017.
ON BEHALF OF THE BOARD OF DIRECTORS
Francois (Frank) Dumas
Frank Dumas, President & CEO
St-Georges is a Platinum-Palladium & Nickel explorer with projects in the Province of Quebec, Canada. Headquartered in Montreal, the Company's stock is listed on the CSE under the symbol SX and its shares trades in the United States under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. Its Flagship project is the Julie Nickel Project on Quebec's North Shore near the deep-seaport town of Baie-Comeau. For additional information, please visit our website at www.stgeorgesplatinum.com
This document contains certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the corporation's control which may cause actual results, performance or achievements of the corporation to be materially different from the results, performance or expectation implied by these forward-looking statements.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.