MONTREAL,
May 22, 2014 /CNW Telbec/ - Maudore
Minerals Ltd. (MAO: TSX Venture Exchange; MAOMF: US
OTC; M6L: Frankfurt Exchange) ("Maudore" or the
"Corporation") is pleased to report that all resolutions
presented for approval at its annual and special meeting of
shareholders held on May 22, 2014
(the "Meeting") have been approved.
George Fowlie,
Daniel Harbour, Keith Harris, Robert
Pevenstein, Gregory Struble
and Raynald Vézina have been elected as directors of the
Corporation and Raymond Chabot Grant Thornton LLP have been
re-appointed as auditors of the Corporation for the year ending
December 31, 2014.
Finally, the shareholders of the Corporation
eligible to vote on the matter have approved the previously
announced financing and debt restructuring transactions entered
into by the Corporation with FBC Holdings S.à r.l., marking an
important step towards the financial rehabilitation of the
Corporation.
Following the conclusion of the Meeting, the
Board of Directors of the Corporation named George Fowlie as the Chairman of the Board, and
confirmed the appointments of Greg
Struble as President and Chief Executive Officer and
Claudine Bellehumeur as Chief
Financial Officer.
Commenting on these latest developments,
Greg Struble stated that he would
like to "personally thank all our shareholders and employees for
their continued support through this time of transition for
Maudore. It has taken an incredible amount of teamwork and
perseverance on all fronts to get us to this point in our strategic
path. Now, with the strong support from our financier, we will
continue to work toward transitioning Maudore into a long-term
profitable Québec junior gold producer."
About Maudore Minerals Ltd.
Maudore is a Québec-based junior gold company in
production, with mining and milling operations as well as more than
22 exploration projects. Five of these projects are at an advanced
stage of development with reported current and historical resources
and mining. Currently, gold production is ramping up at the
Sleeping Giant mine. The Corporation's projects span some 120 km,
east-west, of the underexplored Northern Volcanic Zone of the
Abitibi Greenstone Belt and cover a total area of 1,285 km² with
the Sleeping Giant Processing Facility within trucking distance of
key development projects.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Maudore Minerals Ltd.