Advanced Explorations Inc. Announces Eric Guo as CEO
20 Marzo 2014 - 1:30PM
Marketwired
Advanced Explorations Inc. Announces Eric Guo as CEO
TORONTO, ONTARIO--(Marketwired - Mar 20, 2014) - Advanced
Explorations Inc. (the "Company" or "AEI")
(TSX-VENTURE:AXI)(FRANKFURT:AE6) announced today that Mr. Eric Guo
will be taking over the role of Chief Executive Officer for the
Company while Mr. Gingerich will continue in his current roles as
President and Board Chairman. Mr. Guo, who has served as a Board
member since November 2009, has been actively involved in the day
to day operations of the Company over the past year and is directly
responsible for securing the recent partnership with Hebei Han-Xing
Institute of Mining & Metallurgy Design Co., Ltd. ("Han-Xing")
as press released February 27th, 2014. Mr. Guo has been a
significant contributor in assisting the expansion of AEI's China
network. China being the world's largest consumer of iron ore (>
800 mt seaborne trade annually) has clear objectives and mandates
to enhance their interest in the off-shore supply side (mines).
During the last three years, as director of AEI, Mr. Guo has
established solid relationships with steel companies, iron ore
trading companies, as well natural resources investment funds from
China. As CEO, the Company anticipates Mr. Guo can more effectively
consolidate on a number of new opportunities available to AEI.
John Gingerich, President stated;
"While I will remain in my role as Chairman and president,
this change presents a valuable opportunity for Eric to capitalize
on his strengths. He has been an important contributor to Advanced
Explorations Inc., and his new position reflects our faith in his
ability to secure partnerships and financings from China that will
allow the Roche Bay project to move forward to development. His
industry passion and unique insights will serve him well in his new
role. In addition, I would like to extend my gratitude to Eric in
stepping up and taking on a more active role during the previous
year. His commitment to AEI has made a difference."
About Mr. Guo:
Eric Guo joined Advanced Explorations' Board of Directors in
November 2009. He and his associates have over 10 years of
international experience providing financial services and
facilitating a broad range of M&A activities including the
direct investment of millions of dollars into resource and
technology markets, both from China to Western Markets and Western
Markets into China. This experience has led to a clear
understanding as to the investment needs and expectations of
Western and Asian investors.
ON BEHALF OF THE BOARD
John Gingerich, President & Chairman
ABOUT Advanced Explorations Inc.
Advanced Explorations Inc., based in Toronto, Ontario, is a
resource development company focused on developing its Roche Bay
and Tuktu Iron Ore Projects in one of the world's largest
developing iron ore districts, the Melville Peninsula in Nunavut.
The Ocean-based Roche Bay Project boasts an NI 43-101 compliant
resource estimate of over 500 million tonnes outlined within a
small portion of the potential 140 km of banded iron formation. A
positive feasibility study for the project's C Zone revealed a net
present value of $642M on a base case 5.5 Mtpa start-up concentrate
operation and substantial upside potential including becoming a low
quartile cost producer. To date, the Company has delineated over 1
billion tonnes of iron under NI 43-101 among its Roche Bay and
Tuktu deposits and continues to explore other targeted deposits in
areas to the north, south and west of Roche Bay. The management
team has extensive technical, exploration and Canadian Arctic
mining expertise to effectively develop the high quality iron ore
opportunities on the Melville Peninsula.
This news release also includes forward-looking statements
that involve a number of risks and uncertainties. The information
reflects numerous assumptions as to industry performance, general
business and economic conditions, regulatory and legal
requirements, taxes and other matters, many of which are beyond the
control of the company. Similarly, this information assumes certain
future business decisions that are subject to change. There can be
no assurance that the results predicted here will be realized.
Actual results may vary from those represented, and those
variations may be material.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
NEITHER THE TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED WITHIN THE POLICIES OF THE
TSX-VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Advanced Explorations Inc.Brendan Purdy416-203-0057 x320Advanced
Explorations Inc.(416) 203-0057 x226
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