Crowflight Announces Changes to Board of Directors
18 Janvier 2008 - 10:30PM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: CML) today announces the
resignation of Mr. Thomas Atkins from the Board of Directors. Mr
Atkins' resignation follows his departure from the Company as
President and CEO (refer to the press release dated September 10,
2007).
The Company would like to acknowledge the contributions Mr.
Atkins made towards the growth of the Company as it advanced from a
base metal exploration company with a market capitalization of
approximately $20 million on his arrival to a future nickel
producer with a market capitalization of as much as $350 million in
2007. During his two and a half year tenure, Mr. Atkins was
responsible for guiding the Company's development of the Bucko Lake
Nickel Deposit and the Thompson Nickel Belt exploration properties,
including: raising over $50 million in equity capital, the
completion of a bankable feasibility study regarding the
development of the Bucko Deposit, negotiated two sweeping
amendments to the original earn-in agreements on the Bucko Deposit
and Thompson Nickel Belt properties, initially with Falconbridge
and later with Xstrata Nickel, including a life-of-mine offtake
agreement with Xstrata Nickel to treat the nickel concentrate
produced form the Bucko Lake Nickel mine.
In his place, Mike Hoffman, Crowflight's current President and
CEO, has been appointed to the Board of Directors.
Crowflight Minerals - Canada's Next Nickel Producer
Crowflight Minerals Inc. (TSX VENTURE: CML) is a Canadian junior
mining exploration and development company focused on nickel,
copper and Platinum Group Mineral ("PGM") projects in the Thompson
Nickel Belt and Sudbury Basin. The Company currently owns and/or
has under option approximately 800 square kilometres of exploration
and development properties in Manitoba and Ontario.
Crowflight's priority is to bring the Bucko Nickel deposit
located near Wabowden, Manitoba into production by mid-2008.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes",
"may", "will" and include without limitation, statements regarding
the Company's plan of business operations. There can be no
assurance that such statements will prove to be accurate; actual
results and future events could differ materially from such
statements. Factors that could cause actual results to differ
materially include, among others, metal prices, competition, risks
inherent in the mining industry, and regulatory risks. Most of
these factors are outside the control of the Company. Investors are
cautioned not to put undue reliance on forward-looking information.
Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or
obligation to update publicly forward-looking information, whether
as a result of new information, future events or otherwise.
Further information is available on the Company's website at
www.crowflight.com.
Total Shares Outstanding: 249.7MM
Fully Diluted: 286.5MM
52-Week Trading Range: C$0.35 - $1.35
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Crowflight Minerals Mike Hoffman President and CEO
(416) 861-2964 Crowflight Minerals Heather Colpitts Manager,
Investor and Public Relations (416) 861-5803 Email:
info@crowflight.com Website: www.crowflight.com
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