SOURCE: Strata Minerals Inc.
VANCOUVER, BC--(Marketwired - Apr 15, 2014) - Strata Minerals Inc. (TSX VENTURE: SMP) ("Strata" or the "Company") announces the following board and management changes and the granting of stock options.
Joining Strata's board is Mr Kal Malhi, a Vancouver-based mining entrepreneur and a principal of Utah Minerals Resources LLC ("UMR"), the company with which Strata recently completed an option agreement to acquire an 80% equity interest in the Diamond Mountain phosphate project located in Utah. Mr. Malhi will serve as an independent director.
Mr. Malhi brings seven years' experience in the junior exploration business and skills in mineral project generation and development. Mr. Malhi has been president of BullRun Investments Inc., a privately held corporation, since 2007. BullRun Investments currently has several properties under option arrangements with TSX Venture Exchange-listed companies, including Cap-Ex Ventures Ltd., Ridgemont Iron Ore, Encanto Potash Corp. and Arrowstar Resources Ltd.
Prior to his involvement with BullRun Investments, Mr. Malhi served as a member of the Royal Canadian Mounted Police based in British Columbia over a period of 10 years.
In connection with Strata's shift in focus to Diamond Mountain and the U.S. phosphate market, the Company announces the resignation of Mr. Peter Ellery from its Board of Directors. Mr. Ellery, a highly regarded Australian mining industry executive, has served the Company with unwavering support and careful guidance since its inception. The Board wishes to acknowledge Mr. Ellery's many contributions to Strata and thank him for his time and efforts.
Strata also announces the resignation of Mr. Brent Lokash from the Company's Board of Directors and from his role as EVP & CFO for the Company. The Board wishes to thank Mr. Lokash for his service and offer it's appreciation to Mr. Lokash for the valuable contribution he has made to the Company over the past two years.
The Company is pleased to announce that Mr Adam Rochacewich has been appointed as CFO and Company Secretary effective immediately.
Mr. Rochacewich is a Chartered Professional Accountant (CPA, CA) with over 12 years experience in the area of financial accounting and reporting within the international resource sector. Subsequent to obtaining his designation at Ernst & Young LLP, Mr. Rochacewich held financial positions with Noranda/Falconbridge/Xstrata Plc and LionOre Mining International and was Chief Financial Officer of Verena Minerals Inc. and Polar Star Mining Corporation.
While CFO of Polar Star Mining, Mr Rochacewich led Polar Star's graduation from TSX Venture board to the TSX main board and played a key role in the financing and management of Polar Star's exploration, development and production assets. He holds a Bachelor of Commerce degree from Queen's University.
Strata announces that it has granted 750,000 stock options to its CEO, Jason Bahnsen, under the terms of his appointment announced March 20, 2014. The options, which are subject to the policies of the TSX Venture Exchange, are exercisable at $0.12 per share, vest in three equal instalments over a period of three years, and have a term of five years.
Mr Rochacewich, has been granted 375,000 stock options under the terms of his employment contract. The options, which are subject to the policies of the TSX Venture Exchange, are exercisable at $0.13 per share, vest in three equal instalments over a period of three years, and have a term of five years.
In addition, the Company announces that in accordance with the Company's annual compensation review governing the granting of options, the board of directors has granted a total of 400,000 incentive stock options to the non-executive directors of the Company, as per the terms of the Company's stock option plan. The options, which are subject to the policies of the TSX Venture Exchange, are exercisable at $0.13 per share, vest in four equal instalments over a period of three years, and have a term of five years.
President and CEO
About Strata Minerals Inc.
Strata Minerals Inc., is an emerging, phosphate focused, agricultural nutrient company exploring for commercial-scale phosphate rock mineralization deposits. Armed with the objectives of becoming a supplier to the US and global fertilizer industry and generating wealth for its shareholders, Strata is currently advancing its phosphate exploration projects in Utah, USA and in Western Australia, Australia. All references to the Company in this release include the Company's wholly owned Australian subsidiary, Strata Minerals Pty Ltd. For further information, please refer to the Company's website at www.strataminerals.com.
Additional disclosure of the Company's financial statements, technical reports, material change reports, news releases and other information can be obtained on SEDAR at www.sedar.com.
Special Note Regarding Forward-Looking Statements
Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding future financings, exploration results and the development and operation of Strata's mineral properties. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management teams of Strata, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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 news release.