Mako Mining Corp. Announces Appointment of New Director
VANCOUVER, June 8, 2020 - Mako Mining Corp. (TSXV: MKO); (OTCQB: MAKOF) ("Mako" or the "Company") announces that its Board of Directors (the "Board") has appointed Mr. Mario Caron as a director of the Company, replacing Mr. Cesar Gonzalez who has stepped down from his role as a director of the Company but shall remain as Vice President, Corporate Development of the Company. Akiba Leisman, CEO of Mako states that "the appointment of Mario to replace Cesar on the board is the first step of many that the Company will be taking over the next few months to update its corporate governance to align with current best practices , including increasing independence on the Board, with a view to ultimately listing on a major exchange when it is prudent to do so. Mario brings a wealth of technical experience and he will also be serving as Chair of Mako's technical committee, joining myself and fellow Mako director Dr. Rael Lipson, former Chief Geologist for Gold Fields Exploration, Inc., a part of Goldfields Ltd. I would like to thank Cesar for serving on the Board, and confirm that his role as VP of Corporate Development will continue unabated."
Mr. Mario Caron is a mining executive with over 40 years of wide-ranging experience in the mining industry in senior executive and board positions. He has international experience in both underground and open pit operations.
Mr. Caron is currently Chairman of Alloycorp Mining Inc., a private company which is advancing a molybdenum deposit in British Columbia; acting CEO and a director of New Millenium Iron Corp.; the lead director of Falco Resources Ltd.; and a director of Quebec Precious Metals Corp..
From November 2011 to July 2013, he served as Chief Executive Officer and a director of Aldridge Minerals Inc., developing a polymetallic Volcanogenic massive sulfide deposit in Turkey. Previously, Mr. Caron served as Chief Executive Officer and a director of Axmin Inc., a company with a gold project in Central African Republic, and Tiberon Minerals Ltd., a developer of a tungsten/fluorspar mine in Vietnam.
Mr. Caron is a member of the Québec Order of Engineers and the Association of Professional Engineers of Ontario.
Concurrent with his appointment, the Company's Board has authorized and approved the grant of 100,000 incentive stock options to Mr. Caron under the Company's incentive stock option plan.
The Board has also authorized and approved the grant of 100,000 incentive stock options to director John Stevens under the Company's incentive stock option plan, related to Mr. Steven's joining the Board in December of 2019.
The stock options granted to each of Mr. Caron and Mr. Stevens have an exercise price of Cdn $0.425 per share, based on the closing price of the Company's common shares on the TSX Venture Exchange on the date prior to grant, and an expiry date of June 5, 2025. These options will vest as to 25% immediately upon grant, and 25% on each anniversary thereof, in accordance with the incentive stock option plan of the Company.
On behalf of the Board,
Akiba Leisman
CEO
About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration firm. The Company is developing its high-grade San Albino gold project in Nueva Segovia, Nicaragua. Mako's primary objective is to bring San Albino into production quickly and efficiently, while continuing exploration of prospective targets in Nicaragua.
Forward-Looking Statements: Statements contained herein, other than of historical fact, may be considered "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is based on certain expectations and assumptions, including that Mako will be updating its corporate governance practices in order to align then with current best practices, including increasing independence on the Board; Mako's goal of listing on a major exchange in the future once it is prudent to do so; and Mako's ability to bring san Albino into production quickly and efficiently while continuing exploration of targets in Nicaragua. Such forward-looking information is subject to risk and uncertainties that could cause actual events to differ materially from those stated in the forward-looking information, including Mako not be successful in its stated goals and objectives. The forward-looking information contained herein represents management's best judgment as of the date hereof, based on information currently available and is included for the purposes of providing investors with the Company's current plans and expectations, and may not be appropriate for other purposes. Mako does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Mako Mining Corp.
Contact
Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 203-862-7059, E-mail: aleisman@makominingcorp.com or visit our website at www.makominingcorp.com and SEDAR www.sedar.com.
