Nine Mile Metals Announces Appointment of New CFO, Financial Services Team, and Board Changes
Rhea-AI Summary
Nine Mile Metals (CSE: NINE, OTC: VMSXF) has announced significant changes to its management and board structure. Jimmy Jeon, CPA, has been appointed as Chief Financial Officer, effective February 10th, 2025, while Brett Wallace, LLB, an experienced geoscientist and lawyer, joins the Board of Directors from February 17th, 2025.
The company has also engaged Marrelli Support Services Inc. (MSSI) to provide comprehensive financial services support. This consolidation of financial services aims to enhance operational efficiency by streamlining four advisory relationships into one.
Several departures were announced, including James Bordian (CFO and Director), Charles Malette (President, Director, and Corporate Secretary), and Terry Fields (Director). The restructuring is positioned to support Nine Mile's 2025 drill program and corporate strategy execution.
Positive
- Consolidation of financial services from four providers to one (MSSI) should reduce costs and improve operational efficiency
- Addition of Brett Wallace brings dual expertise in geoscience and mining law, particularly valuable for Bathurst Mining Camp operations
- New CFO Jimmy Jeon brings extensive public company financial management experience
Negative
- Significant leadership turnover with simultaneous departure of three key executives (CFO, President, and Director)
- Potential disruption in business continuity due to multiple management changes
News Market Reaction – VMSXF
In the trading session that priced this news, VMSXF declined 21.35%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2025) - NINE MILE METALS LTD. (CSE: NINE) (OTC Pink: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to announce several key management, board, and financial services appointments:
- Mr. Jimmy Jeon, CPA, has been appointed as Chief Financial Officer (CFO), effective February 10th, 2025.
- Mr. Brett Wallace, LLB, has been appointed to the Board of Directors, effective February 17th, 2025.
- Marrelli Support Services Inc. ("MSSI") has been engaged to provide full corporate financial services support.
- Mr. James Bordian has resigned as CFO and Director, effective February 7th, 2025.
- Mr. Charles Malette has resigned as President, Director, and Corporate Secretary, effective February 14th, 2025.
- Mr. Terry Fields has resigned as Director, effective February 13th, 2025.
Jimmy Jeon, CPA - Chief Financial Officer
Nine Mile Metals is pleased to welcome Mr. Jimmy Jeon, CPA, as its new Chief Financial Officer. Mr. Jeon holds a Bachelor of Business Administration from Wilfrid Laurier University and brings extensive expertise in accounting, regulatory compliance, and financial management. He has provided CFO and advisory services to multiple public companies as part of the MSSI team in Toronto. Over the past month, Mr. Jeon has been actively leading the transition of Nine Mile Metals' financial management to MSSI, ensuring a seamless integration of corporate financial services.
Brett Wallace, LLB - Board of Directors
The Company is also pleased to appoint Mr. Brett Wallace to the Board of Directors. Mr. Wallace is an experienced geoscientist, lawyer, and corporate executive with over 20 years of expertise spanning greenfields exploration to mining operations across various commodities, including copper, gold, nickel, iron ore, and VMS deposits. With a legal specialization in corporate, major projects, and mining law, Mr. Wallace has worked on large-scale mining infrastructure projects in the oil, gas, and mining sectors. His experience includes roles at DLA Piper and as in-house legal counsel for ASX-listed companies, as well as directorships and consulting roles for publicly traded resource companies. He is a member of the Australian Institute of Mining and Metallurgy and an Associate Member of the Australian Institute of Geoscientists.
Mr. Wallace has significant knowledge of the Bathurst Mining Camp, and the Company looks forward to his visit to its projects in the coming months.
Marrelli Support Services Inc. - Corporate Financial Services
Nine Mile Metals is also pleased to engage Marrelli Support Services Inc. ("MSSI"), a leading provider of comprehensive financial support services to publicly traded companies. MSSI specializes in financial reporting, cash management, shareholder communications, warrant and rights management, stock transfer, regulatory compliance, and minute book custodianship. Their extensive experience across TSX, TSXV, and CSE-listed companies will allow Nine Mile Metals to enhance operational efficiency and streamline financial processes.
"We are pleased to welcome Brett Wallace, Jimmy Jeon, and MSSI to the Nine Mile Metals team," commented Patrick J. Cruickshank, MBA, CEO & Director. "This transition strengthens our management structure and streamlines financial operations with MSSI's full-service support in Toronto and Vancouver. By consolidating four advisory financial relationships into one, we are enhancing efficiency, reducing redundancies, and optimizing economies of scale. These changes position Nine Mile for a highly productive 2025 drill program, and we look forward to working closely with Mr. Jeon and Mr. Wallace as we execute our corporate strategy."
Gary Lohman, Director, P. Geo., VP Exploration further shared, "I would like to welcome Brett Wallace to Nine Mile Metals, and I look forward to working with him on advancing our extensive land package in 2025. As an experienced geoscientist with a strong background in the Bathurst Mining Camp, Brett's experience adds additional technical expertise to the team as we plan our technical programs for 2025."
About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company's primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East - West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold.
ON BEHALF OF NINE MILE METALS LTD.
"Patrick J. Cruickshank, MBA"
CEO and Director
T: 506-804-6117
E: investors.ninemilemetals@gmail.com
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that its primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East - West) VMS Project, and the Wedge VMS Project. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241335