Toronto, Ontario–On September 25, 2024, Maritime Resources Corp. announced the appointment of Allen Palmiere as Chairman of the Board. This decision comes as the company prepares for the development phase with the upcoming cash flow from the Hammerdown Gold Project in Newfoundland and Labrador. John Hayes, the previous Chairman, will remain on the Board.
In light of the recent $8 million rights offering supported by Dundee Corporation, Maritime’s largest shareholder, who increased their ownership to approximately 43%, Allen Palmiere’s 35 years of experience in the mining industry is expected to be a valuable asset at this pivotal stage. Garett Macdonald, President and CEO, thanked John Hayes for his leadership over the past five years in navigating challenging capital markets.
Jonathan Goodman, CEO of Dundee Corporation, expressed confidence in Maritime’s potential for success, highlighting the fully permitted mine at Hammerdown and operational mill at Pine Cove as key assets for generating cash flow. He emphasized Dundee’s commitment to supporting Maritime and unlocking value for investors.
Maritime Resources Corp. is a gold exploration and development company focused on advancing the Hammerdown Gold Project in Newfoundland and Labrador. The company holds interests in various projects and mineral processing assets in the Baie Verte mining district and the Lac Pelletier gold project in Québec.
For further information, contact Garett Macdonald, President and CEO, at (416) 365-5321 or info@maritimegold.com.
Caution Regarding Forward Looking Statements:
The statements made herein contain forward-looking information and are subject to risks and uncertainties. Actual results may differ from management’s expectations, and readers should exercise caution. The company disclaims any obligation to update or revise forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the accuracy of this release.
SOURCE: Maritime Resources Corp.
