Silver Scott Mines, Inc. Announces Resignation of CEO and Disposition of Assets
Rhea-AI Summary
Silver Scott Mines (OTCID:SILS) announced on October 13, 2025 that President and CEO Stuart Fine resigned and entered a separation agreement.
Under that agreement the company transferred rights to certain websites and domains tied to its blockchain and healthtech initiatives to Mr. Fine in exchange for 7,763,993 shares representing his entire ownership interest. The board said it will pursue a different strategic path focused on maximizing remaining assets and evaluating potential acquisitions or business combinations.
Positive
- Board shifting focus to maximize remaining assets and pursue acquisitions
- Separation resolves CEO leadership role without disclosing litigation or allegations
Negative
- President and CEO Stuart Fine resigned effective October 13, 2025
- Company transferred blockchain and healthtech website/domain rights to former CEO
- 7,763,993 shares issued to Mr. Fine as exchange for transferred assets
CHAMPIONS GATE, FL, FL / ACCESS Newswire / October 13, 2025 / Silver Scott Mines, Inc. (OTCID:SILS) announced today the resignation of Stuart Fine, its President and Chief Executive Officer. Pursuant to a separation agreement executed with Mr. Fine, the Company is transferring certain assets to Mr. Fine in exchange for 7,763,993 shares of Silver Scott Mines common stock, which represent Mr. Fine's entire ownership interest in the Company The transferred assets consist primarily of rights to certain websites and domains established in connection with the Company's blockchain and healthtech initiatives.
Wesley Holland, the Company's Chairman, commented "We thank Stuart for his efforts in endeavoring to develop the Silver Scott brand. At this juncture, our Board of Directors has concluded that the long-term interests of the Company's shareholders would be best served by pursuing a different path. As a result, we are shifting our focus to maximizing the value of our remaining assets and evaluating new business opportunities, including potential acquisitions or business combinations with one or more businesses or entities."
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United Stated Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as expects, believes, anticipates, intends, estimates, seeks and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the business of Silver Scott Mines, Inc., are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These factors include, but are not limited to the ability to successfully implement the business plans of Silver Scott Mines, Inc.
Contact information:
Wesley Holland
whollandmd@gmail.com
520 907 0733
SOURCE: Silver Scott Mines Inc
View the original press release on ACCESS Newswire
FAQ
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