STOCKHOLM–(BUSINESS WIRE)–The Board of Endomines AB (publ) (STO:ENDO)(HEX:ENDOM) has today decided to terminate the contract with CEO Markus Ekberg. The Board has taken the decision based on the view that the company is in need of a new CEO who can lead the company through future challenges.
The search for a new CEO will start immediately. Until such time a successor has been employed by Endomines, Markus Ekberg will continue to serve as the CEO of the company and its subsidiaries during his term of notice, for a period of up to 12 months.
This information is information that Endomines AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:45 CET on 18 August 2016.
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About Endomines
Endomines conducts exploration and mining business along the 40 kilometer long Karelian Gold Line. Through various regulatory approvals, Endomines controls the exploration rights to this entire area.
The Company’s first mine, Pampalo, started in February 2011. The ore from satellite mines will be processed in the centrally located mill at Pampalo.
The Company’s operations are based on sustainable principles and on minimizing the impact on the environment.
Endomines applies SveMin’s & FinnMin’s respective rules for reporting for public mining & exploration companies. The Company has chosen to report mineral resources and ore reserves according to the JORC-code, which is the internationally accepted Australasian code for reporting ore reserves and mineral resources.
Endomines vision is to participate in the future structural transformation and consolidation of the Nordic mining industry. The Company may therefore be involved in acquisitions of interesting deposits or companies, should such opportunities arise.
The shares of Endomines AB are quoted on Nasdaq Stockholm under ticker ENDO and on Nasdaq Helsinki under ticker ENDOM. The Liquidity Provider in both Stockholm and Helsinki is Erik Penser Bankaktiebolag.
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