Alrosa plans production cuts and staff reduction for 2025
The miner may cut its labor costs by 10%, which could involve layoffs among its 35,000 staff.
Toronto, Ontario--(Newsfile Corp. - June 24, 2021) - Mainstream Minerals Corporation (the "Company") announces that, pursuant to a termination and release agreement dated June 24, 2021 between the Company and Plutus Super Flow-Through Limited Partnership ("Plutus"), it has terminated the letter of intent with Plutus as previously announced on June 19, 2020 and September 17, 2020, and the transaction contemplated therein will not proceed.
In addition, the Company announces the resignation of Ms. Jessica Whitton as President, Chief Executive Officer, Corporate Secretary and Director of the Company, effective immediately. The Company wishes to thank Ms. Whitton for her contribution to the Company and wishes her all the best in her future endeavors.
The Company is pleased to announce the appointment of Daniel Nauth as President, Chief Executive Officer, Corporate Secretary and Director of the Company. Mr. Nauth practices U.S. securities and corporate law and advises both public and private issuers on U.S.-Canada cross border capital markets, M&A and corporate/securities transactions and regulatory compliance. Mr. Nauth holds a J.D. from Queen's University and a Bachelor of Arts (Hons.) from York University. Mr. Nauth is a licensed Foreign Legal Consultant in the Province of Ontario. Mr. Nauth has extensive advisory experience in a range of industries, including mining and oil/gas, emerging biopharmaceutical and medical devices, medicinal cannabis, cryptocurrencies and blockchain technology. Mr. Nauth currently serves as a director of Bhang Inc., QcX Gold Corp., SBD Capital Corp., Interactive Capital Partners Corporation, Crosswinds Holdings Inc., Pima Zinc Corp. and Veta Resources Inc.
For further information, please contact:
Daniel NauthPresident & Chief Executive OfficerTel: (416) 477-6031Email: [email protected]
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward- looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88603
