|March 01, 2017|
Geologix Announces Key Management Appointment and Issuance of Stock Options
|Vancouver, BC -- March 1, 2017 -- Geologix Explorations Inc. [TSX-V: GIX] ("Geologix" or "the Company") is pleased to announce the appointment of Ms. Gillian Kearvell as the Company's Vice President of Exploration.|
Ms. Kearvell is an exploration geologist with over 30 years of experience working with junior and senior exploration and mining companies throughout North America and Mexico. She has worked exclusively in Mexico since 1994 during which time she co-discovered Teck Resources' San Nicolas VMS deposit in Zacatecas State, managed the pre-feasibility field program at Goldcorp's Los Filos Mine and led Teck's exploration team that developed the Guerrero Gold Belt ("GGB") exploration model resulting in the El Limon-Guajes and Cerro Media Luna discoveries, currently operated by Torex Gold. She was most recently Vice President of Exploration at Newstrike Capital, where she led the Ana Paula Project discovery team until Newstrike's acquisition by Timmins Gold in 2015. Prior to that, Ms. Kearvell worked as Vice President of Corporate Development for Aurea Mining where she introduced and promoted the GGB to capital markets, among other duties. Ms. Kearvell resides in Guadalajara, Mexico.
Kiran Patankar, Geologix's President and Chief Executive Officer, stated: "Gillian's extensive experience developing exploration programs and managing teams in Mexico that have resulted in several world-class discoveries will be a tremendous asset to the Company as we leverage our first-mover advantage in the highly prospective yet underexplored porphyry belt hosting our Tepal Gold/Copper Project. Her keen passion for making new discoveries fits well with our corporate objectives. We are delighted to welcome Gillian to the management team at Geologix and to add a second leg of growth to the Company through her focused exploration approach."
In connection with Ms. Kearvell's appointment, the Company has agreed to issue Ms. Kearvell, subject to TSX Venture Exchange approval, 400,000 common shares of the Company and grant her a common share purchase option on 500,000 common shares for five years at $0.08 per share. The option will vest, as to 25%, on each of granting, June 1, 2017, September 1, 2017, and March 1, 2018.
The Company also announces that it has granted incentive stock options to its directors and employees, exercisable to purchase up to 3,125,000 common shares until March 1, 2022 at an exercise price of $0.08 per share. The incentive stock options were granted in accordance with the Company's Stock Option Plan.
About Geologix Explorations Inc.
Geologix is a mineral exploration and development company focused on acquiring, exploring, and developing mineral resource opportunities with the potential to host profitable mining operations. The Company's primary focus is the Tepal Gold/Copper Project in Michoacán state, Mexico.
On behalf of the Board of Directors,
President and Chief Executive Officer
For Further Information Please Contact:
President and Chief Executive Officer
This Press Release may contain statements which constitute 'forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.
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