Magna Resources Ltd. Strengthens Board
March 31 2014 - 8:00AM
Marketwired
Magna Resources Ltd. Strengthens Board
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 31, 2014) -
Magna Resources Ltd. (CSE:MNA)(OTCQX:MGRZF) (the "Company" or
"Magna") is pleased to announce that Mr. John Proust has been
appointed to the Company's Board of Directors effective March 31,
2014.
"Mr. Proust's extensive experience and respect in the mining and
financial communities will provide significant assistance in
advancing our Company's sizable potash project in the Paradox
Basin, Utah," states Rudy De Jonge, CEO of Magna. "I am very
excited we have attracted an individual of John's calibre and
confident Mr. Proust will be a valuable contribution to the Company
as we move forward."
John Proust has successfully managed, directed and advised
public and private companies regarding debt and equity financing,
mergers and acquisitions and corporate restructuring since 1986.
Highly regarded in the industry for his entrepreneurial and
management skills, he has held and is holding senior operating
positions and has served on the boards of numerous private and TSX
Venture Exchange listed companies including as current CEO and
director of New Zealand Energy Corp. that has raised over $100
million under his stewardship since 2011.
Mr. Proust is currently Chairman and a director of Canada Energy
Partners; Chairman, CEO and a director of Southern Arc Minerals;
Chairman, Interim CEO and a director of Eagle Hill Exploration,
President, CEO and a director of Charlotte Resources, and a
director of Outrider Energy. During the past five years, Mr. Proust
formerly held the following positions with TSX-V listed companies:
Director of Western Uranium (now known as Kaizen Discovery) and
Executive Chairman of Superior Mining International. Mr. Proust
received the designation of Chartered Director (CDir) from McMaster
University, Directors College, Michael G. DeGroote School of
Business.
"I am very pleased to join Magna's board of directors at this
opportune time in the Company's development cycle," states John
Proust, Director of Magna. "I look forward to being part of the
team to advance Magna's exceptional potash project."
In conjunction with his appointment, the Company has granted Mr.
Proust a stock option to purchase 500,000 common shares of the
Company for a period of five years at an exercise price of $0.15
per share, subject to regulatory approval.
About the Company
Magna Resources Ltd. is dedicated to the acquisition and
development of potash mineral deposits in the USA and elsewhere.
The Company, through a wholly owned subsidiary, American Potash
LLC, a Nevada limited liability corporation, holds 11 State potash
leases, 2 Federal Potash Prospecting Permits and an option to
acquire 100% interest in 12 Federal potash Prospecting Permits and
11 federal Potash Prospecting Permit applications in the State of
Utah comprising 20,620 hectares (50,950 acres) that constitute the
Green River Potash Project, host to a significant potash
Exploration Target.
Neither the OTCQX nor the Canadian Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Canadian National Stock Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Statements in this press release other than purely
historical information should not be relied upon, including
statements relating to the Company's future plans and objectives or
expected results, are "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act
of 1934, as amended and Canadian securities laws. Forward-Looking
Statements are based on numerous assumptions and are subject to all
of the risks and uncertainties inherent in the Company's business,
including risks inherent in resource exploration and development.
As a result, actual results may vary materially from those
described in the Forward-Looking Statements.
Magna Resources Ltd.Brook
Bellian604-558-4955604-484-7143bbellian@magnaresourcesltd.comwww.magnaresourcesltd.com
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