TORONTO, April 24, 2012 /CNW/ - Transition Metals Corp. (XTM - TSX.V) is pleased to announce the appointment of George McTaggart as a consultant to provide investor relations and strategic marketing services to Transition Metals.
Mr. McTaggart has held senior marketing and investor relations roles in the junior mining and technology sectors with a number of private and public companies. He has over 20 years of expertise in developing and executing marketing strategies and plans that deliver quick, cost-effective results, and add shareholder value. Most recently, he was Vice President Corporate Development at Orezone Gold Corp., where he focused on investor relations and marketing for the company as they developed their West African gold and uranium projects. McTaggart has an MBA from the Richard Ivey School of Business, a BSc in Geology from Queen's University, and began his career as an exploration geologist with Falconbridge Ltd. in Timmins, Sudbury and British Columbia.
"We're very pleased to have George on board to help take the company to the next level," said Scott McLean, CEO of Transition Metals. "He brings a unique skillset and excellent experience in marketing, communications, investor relations and business management, and will help tremendously as we further increase the awareness, reputation and value of the company within the investment community. He'll also help further strengthen our relationships with other key stakeholders, including the communities in which we operate."
Under the terms of the agreement, Transition Metals will pay McTaggart up to $80,000 over the course of the initial twelve-month term (with a right of termination by either party at any time) and has granted 100,000 stock options at an exercise price of $0.40 per share. The options will have a term of five years following the date of grant and will vest quarterly over a period of one year. Other than stock options, Mr. McTaggart does not own any securities of the Company. Kindly note that the Agreement and related stock option issuance to McTaggart remain subject to the approval of the TSX Venture Exchange.
Transition Metals Shares Issued and Outstanding: 22,206,315
About Transition Metals Corp
Transition Metals Corp (XTM -TSX.V) is a Canadian-based, gold-focused project generator that specializes in converting new exploration ideas into Canadian discoveries. The team has over 60 years of collective exploration experience in the established, emerging and historic mining camps of northern Ontario, and actively develops and tests new ideas for discovering gold mineralization in places that others have not looked, which often allows the company to acquire properties inexpensively. The team is rigorous in its fieldwork, and combines traditional techniques with newer ones to help unearth compelling prospects and drill targets. Transition's business model is to acquire and advance multiple grassroots exploration projects simultaneously, thereby maximizing shareholder exposure to discovery and capital gain. Joint venture partners fund a significant portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder dilution. The company, which was founded in 2011, has an expanding portfolio that currently includes six early stage gold projects, and two additional ones that are being explored by partners.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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.
Further information is available on the Company's website at: http://www.transitionmetalscorp.com or contact:
President and CEO
Transition Metals Corp.
Tel: (705) 669-0590