Endomines’ CEO changes

Press release (PDF)
Endomines AB, Stock Exchange Release 7 December 2020 at 08:45 CET

Endomines announces the resignation of Greg Smith as CEO effective immediately. Greg has been instrumental in the acquisition of mining assets in the US and the Board wants to thank him for growing the company’s mine asset portfolio in Idaho/Montana.

As the company will now focus on ramp-up and mine development of its mining assets, Rauno Pitkänen, a long-time board member and Chairman of the Technical Committee, with extensive mining experience with both large and small companies, has been appointed interim CEO. Rauno possesses the experience that the company in this development phase needs and his mandate in the short-term is to plan and oversee the execution of mining projects including hiring of key personnel.

The company will continue the ramp up of production at the Friday mine and mill in Idaho, accelerate the potential re-start of the Pampalo mine in Ilomantsi, Finland, as well as initiating the development of the US Grant and Kearsarge mining properties in Montana. As announced previously, based on the current mine projects, plans are to produce 40,000 oz gold annually within 3-4 years and establish a path to reach 100, 000 oz. 

For further information, please contact:

Ingmar Haga, Chairman of the Board, ingmar.haga@endomines.com, +358 40 700 3518

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 7 December 2020.

About Endomines

Endomines is a mining and exploration company with its primary focus on gold. The Company explores for gold along the Karelian Gold Line in Eastern Finland and develops mining operations in Idaho, USA. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.

The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).