Altair Resources names Huguet chairman, DeMare secretary

Altair Resources

Altair Resources Inc (2) (C:AVX)
Shares Issued 16,896,379
Last Close 4/29/2016 $0.54
Monday May 2 2016 – News Release

Mr. Robert Naso reports

Altair Resources Inc. is providing this corporate update following a meeting of the board of directors.

John Huguet, FCPA, FCMA, an independent director has been appointed chairman of the board effective May 1, 2016. To assist the company in its corporate filings, the board has also appointed Nick DeMare as corporate secretary.

Zahir Dhanani has effective immediately resigned from the board of directors. Mr. Dhanani will continue to assist the company by serving on the recently constituted advisory board. The board wishes to acknowledge Mr. Dhanani’s contribution to Altair and particularly the acquisition of the Crepulje licence in Kosovo. Additionally, Mr. Dhanani has agreed to provide a further bridge loan for up to $300,000 to complete the first option payments on the Crepulje licence, to finance the phase 1 work program and for working capital.

The board also made additional changes to strengthen its corporate governance matters including:

  1. New banking resolution;
  2. New audit committee;
  3. New compensation committee;
  4. New operations committee;
  5. Hiring of Chase Management to assist with administrative needs;
  6. Retained Axiom Law Corp. as corporate counsel;
  7. Authorized search for additional independent directors and a new chief financial officer.

The board also authorized the operating committee to follow up on additional acquisition opportunities currently being evaluated.

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