Change to Management
and Board of Directors
Inc. ("Philippine Metals" or the
"Company") (TSXV: PHI, Frankfurt: PM7) announces that Mr. Feisal Somji has resigned from his positions of Chief Executive
Officer and member on the Board of Directors of the Company, effective
Mr. Marshall Farris,
President of Philippine Metals Inc. stated: "On behalf of the company's
management and board of directors, we wish to thank Mr. Somji
for his significant contributions to the company since its inception and wish
him all the best in his future endeavours."
The Company further
announces the appointment of Mr. Craig Lindsay to the position of Chief
Executive Officer. Mr. Lindsay, a member of the Board of Directors of the
Company, has in excess of 20 years experience in
corporate finance, investment banking and business development in both North
America and Asia and is currently the President and CEO of Otis Gold Corp. and
Managing Director of Arbutus Grove Capital Corp., a private company offering
corporate finance and merchant banking services. Mr. Lindsay is a former
resident of Hong Kong where he was a senior executive at The Pacific Rim Group,
which provided financial advisory, venture capital and related services to
Asian and North American clients. He was a co-founder and CFO of OneAsia.com,
an innovative B2C internet retailer of Asian language entertainment products,
which was acquired by tom.com Limited, a company associated with Hutchinson
Whampoa Ltd. Mr. Lindsay has extensive experience in
the natural resource sector at the Director and Officer level, and currently
sits on the board of Tarsis Resources Ltd.
About Philippine Metals Inc.
Philippine Metals Inc. is focused on
the exploration, discovery and development of highly prospective copper and
copper-gold deposits in the Philippines. Based on the region's geological
environment, the company's management team recognizes the country's potential
for hosting large, world-class deposits of copper and copper-gold.
The Company's initial projects,
Taurus, Malitao and Dilong,
are examples of management's ability to source quality, highly prospective
targets. The management team combines strong financial capabilities with
world-class experience in mineral exploration, discovery and mine development.
ON BEHALF OF THE BOARD OF
PHILIPPINE METALS INC.
Marshall L. Farris
President and Director