Northern Vertex Announces Management Change
Northern Vertex Mining Corp. (TSXV: NEE, OTC: NHVCF) announced the resignation of Kenneth Berry as President and CEO, effective February 25, 2021. Douglas J. Hurst, the Chairman, will temporarily assume the CEO role, with Michael G. Allen appointed as President. The company has also changed its fiscal year-end from June 30 to December 31. Additionally, it issued 1,090,000 shares to Iconic Minerals Ltd. as part of an option agreement. Northern Vertex operates the Moss Mine, Arizona’s largest pure gold and silver mine and is exploring the Hercules gold property in Nevada.
- Douglas J. Hurst will serve as acting CEO, ensuring stability during the transition.
- Michael G. Allen's appointment as President may bring fresh leadership.
- Kenneth Berry's resignation may cause uncertainty about the company's strategic direction.
VANCOUVER, BC, Feb. 26, 2021 /PRNewswire/ - Northern Vertex Mining Corp. (the "Company" or "Northern Vertex") (TSXV: NEE) (OTC-NASDAQ Intl: NHVCF), announces that Kenneth Berry will step down as President and Chief Executive Officer of Northern Vertex Mining Corp., effective February 25, 2021. Mr. Berry will remain a director of the Company.
Mr. Berry's duties will be assumed by the Chairman and Director, Douglas J. Hurst along with Michael G. Allen who will be appointed President of Northern Vertex.
Douglas J. Hurst, Northern Vertex Chairman, stated: "Ken was a founding member of Northern Vertex and responsible for the acquisition, financing, and leadership of the Moss project from resource estimate to construction and on to profitable operation. The Board of Directors appreciates everything he has done and will continue to benefit from his counsel. We wish him every success in his other current and future endeavours."
Fiscal Year-end Change
The Company also announces a change in its fiscal year-end from June 30 to December 31. For details regarding the impact to Northern Vertex's financial statements, reference is made to the Notice of Change in Year-End pursuant to National Instrument 51-102 Continuous Disclosure Obligations, filed under the Company's SEDAR profile.
Option Agreement Payment
The Company has issued 1,090,000 shares to Iconic Minerals Ltd. under the terms of the Option Agreement dated August 9, 2019 between Eclipse Gold Mining Corporation and Iconic Minerals Ltd., and the Amending Agreement dated February 12, 2021 between Northern Vertex and Iconic Minerals Ltd.
About Northern Vertex
Northern Vertex Mining Corp. owns and operates the Moss Mine, currently the largest pure gold and silver mine in Arizona and is exploring the district-scale Hercules gold property within Nevada's Walker Lane trend.
ON BEHALF OF THE BOARD OF DIRECTORS OF NORTHERN VERTEX MINING
Douglas J. Hurst
Chairman and Director
CORPORATE INQUIRIES:
David Splett, CFO at Northern Vertex
Company Website: www.northernvertex.com
+1 (855) 633-8798 Toll Free
+1 (604) 601-3656 Office
Email: david@northernvertex.com
TSXV: NEE | OTC: Nasdaq Intl: NHVCF | Frankfurt: 54N | ISIN: CA6660061012 | WKN: A1JUA0
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.
Cautionary Statement Regarding Forward Looking Information
These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
View original content to download multimedia:http://www.prnewswire.com/news-releases/northern-vertex-announces-management-change-301236260.html
SOURCE Northern Vertex Mining Corp.
FAQ
What led to the resignation of Kenneth Berry from Northern Vertex Mining Corp?
Who will lead Northern Vertex Mining Corp after Kenneth Berry's resignation?
What changes were made to Northern Vertex Mining Corp's fiscal year-end?
How many shares did Northern Vertex Mining Corp issue to Iconic Minerals Ltd.?
What is the significance of the Moss Mine for Northern Vertex Mining Corp?
