VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 14, 2014) - Formation Metals Inc. (FCO.TO) ("Formation" or "the Company") announced today that it has added Mr. Scott Hean to its current Board of Directors (the "Board"). Mr. Hean, M.B.A., ICD.D., brings to the Board a wealth of financial and business experience.
Mr. Hean is currently the Chief Financial Officer of Quaterra Resources Inc., a TSX-V and OTCQX listed junior mining exploration company, and is a member of the Audit and Chair of the Compensation Committee of Sabina Gold & Silver Corp, a TSX-V listed company. Mr. Hean has held senior management and executive positions with J.P. Morgan of New York, primarily financing junior oil and gas companies. He also served as Senior Vice President and Managing Director with the Bank of Montreal, responsible for natural resources sector financing in North America. He has served on numerous not-for-profit Boards including Outward Bound Canada, BC Children's Hospital, and is currently Chair of the Bill Reid Trust. Mr. Hean graduated from Simon Fraser University in 1973 and from the Ivey School of Business in London, Ontario in 1975. He also graduated in 2006 from the Institute of Corporate Directors, Directors Education Program.
"We are very pleased to welcome Mr. Hean to our Board," commented Robert Quinn, Chairman of the Board of Formation Metals Inc. He continued, "His extensive experience adds significant value to the current Board and we look forward to working with Scott for the benefit of the Company and all of its shareholders."
The Board of Directors of Formation Metals Inc. now consists of six members, namely, Mr. Robert J. Quinn, Chairman, Mr. David Stone, Mr. Robert Metka, Mr. James Engdahl, Mr. Greg Hahn, and Mr. Scott Hean. Governor Cecil D. Andrus remains Director Emeritus.
Formation Metals Inc. is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. Formation trades on the Toronto Stock Exchange under the symbol FCO.
Formation Metals Inc.
J. Paul Farquharson, Interim President & CEO
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws. Further information on the Company is available at www.sedar.com.
The statements contained in this news release in regard to Formation Metals Inc. that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Formation Metals Inc.'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes.