News Release Highlights:
- Timo Jauristo, former Goldcorp Executive Vice President of Corporate Development appointed to Integra’s Board of Directors
- George Salamis, President and CEO, appointed to Board of Directors
- Integra announces DTC eligibility of its OTCQB-listed common shares
VANCOUVER, British Columbia, March 01, 2018 (GLOBE NEWSWIRE) -- Integra Resources Corp. (TSX-V:ITR) (OTCQB:IRRZF) (the “Company” or “Integra”) is pleased to announce the appointment of Mr. Timo Jauristo as a non-executive, independent director of the Company. Concurrently, Mr. George Salamis, Integra’s President and CEO, was named to the Company’s Board of Directors, and former director Ms. Lisa McCormack has stepped down.
“As Integra enters a formative stage of its growth, we are extremely pleased to welcome to our Board a director with Mr. Jauristo’s reputation, qualification, and experience in the sector. His addition will complement our current board, bringing exceptional industry understanding and strategic insight to the table,” said Integra’s Chairman, Stephen de Jong. “We would also like to extend to Ms. Lisa McCormack the Board’s sincere thank you for her dedicated work. Ms. McCormack was a critical Board member during the Company’s transition from Mag Copper to Integra Resources.”
Timo Jauristo currently serves as a Senior Advisor to the Investment Banking division of Canaccord Genuity’s Metals and Mining Group. Before his time at Canaccord, Mr. Jauristo acted as Goldcorp’s Executive Vice President of Corporate Development, after having spent 15 years with Placer Dome before it was acquired by Barrick in 2006. Throughout his 35 year career in the mining and exploration industry, Mr. Jauristo has held a number of operating and corporate roles and has been involved with or lead numerous transactions in many of the world’s gold producing regions.
Integra is also pleased to announce that the Company’s common shares traded on the OTC Markets Group Inc.’s OTCQB Venture Market in the United States, under the stock symbol “IRRZF,” are now Depository Trust Company (“DTC”) eligible.
DTC is a subsidiary of the Depository Trust & Clearing Corp. of New York, NY, and manages the electronic clearing and settlement of share transactions for publicly traded companies. DTC eligibility allows Integra shares to be more easily and economically transferred between brokerage accounts electronically in the United States.
Stock Option Grant
The Company also announces that it has granted incentive stock options in conjunction with the changes to the Board of Directors, exercisable to purchase in aggregate up to 250,000 common shares in the capital of the Company until February 28, 2023 at an exercise price of $1.18 per share. The options were granted in accordance with Integra’s Stock Option Plan and are subject to vesting provisions.
About Integra Resources
Integra Resources Corp. is a development-stage company engaged in the acquisition, exploration and development of mineral properties in the Americas. The primary focus of the Company is advancement of its DeLamar Project, consisting of the neighbouring DeLamar and Florida Mountain Gold and Silver Deposits in the heart of the historic Owyhee County mining district in south western Idaho. The first exploration program in over 25 years is currently underway on the DeLamar Project with more than 20,000 meters planned for 2018. The management team comprises the former executive team from Integra Gold Corp. The 43-101 technical report on DeLamar is available here:
ON BEHALF OF THE BOARD OF DIRECTORS
President, CEO, and Director
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: statements about the estimation of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; future exploration prospects; the completion and timing of mineral resource estimates; the length of the current market cycle and requirements for an issuer to survive in the current market cycle; future growth potential of Integra; and future development plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of Integra at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Integra to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; actual results of reclamation activities; conclusions of future economic evaluations; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Although the forward-looking statements contained in this news release are based upon what management of Integra believes, or believed at the time, to be reasonable assumptions, Integra cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Integra assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Source: Integra Resources Corp.