Daniel Spine Appointed CEO of Keymark Resources and Alabama Graphite Company
08/21/2012 [ACCESSWIRE]August 21, 2012 - VANCOUVER, Canada - Keymark Resources Inc. ("Keymark" or the "Company") (CNSX:KKR) announces that further to its news release of August 1, 2012 announcing the acquisition of the graphite exploration property in Alabama, the Company and its wholly-owned subsidiary, Alabama Graphite Company Inc., have appointed Daniel Spine as President and Chief Executive Officer. Mr. Spine brings more than 25 years of experience in the financial industry and has served as managing partner and Chief Investment Officer of Diversified Equity Investments, LLC and the Diversified Equity Investments Fund, L.P., in Atlanta, Georgia since October, 1999. DEI Fund has exclusively focused on investments in both private and publicly-traded equity in precious and base metals companies since 2003.
Mr. Spine commented "I am very excited about the opportunity to lead the development of the Company. We are on a focused track to production and it is our goal to be the first graphite production facility in the United States in more than a generation. Alabama has been a significant historical producer of graphite and we look forward to revitalizing the graphite industry in the great state of Alabama. The state welcomes our investment and it is committed to working with us to achieve our goal"
The Company has also appointed Dr. Doug Oliver as VP of Exploration. Dr. Oliver has over 30 years experience in mineral exploration. Dr. Oliver has a BS in Geology from Rutgers University, an MBA from the University of Texas at Austin and a PhD in Tectonics from Southern Methodist University.
The Company has also appointed Robert Mullins as Corporate Secretary and accepted the resignation of Tom Kennedy as CEO and director effective immediately, and the resignation of John Morita as President and Corporate Secretary. Mr. Morita remains CFO and a director of the Company.
The Company will issue a total of 250,000 restricted common shares to the incoming management, subject to CNSX approval, which are only saleable with the authority of the Board.
The Company will issue a total of 1,000,000 common shares to Goal Capital Inc. of California as a finder's fee for finding a satisfactory mineral property in Alabama and CEO.
The Company will issue a total of 250,000 broker warrants to Dahlman Rose & Co. of New York at an exercise price of $0.25 per share for a period of two years as compensation for assisting in the Alabama Coosa Graphite mineral property.
The Company proposes to change its name to Keymark Graphite Inc. to better reflect the direction and business it is now focusing on.
The Company has granted stock options to purchase a total of 1,250,000 common shares at an exercise price of $0.25 per share for a period of five years to officers, employees and consultants of the Company, in accordance with the provisions of the Company's stock option plan. The Company has also granted stock options to purchase a total of 350,000 common shares to an officer of the Company at an exercise price of $0.35 per share for a period of five years.
About Keymark:
Keymark Resources Inc., through its wholly-owned subsidiary, Alabama Graphite Company Inc., is a graphite exploration and development company whose flagship project "The Coosa Graphite Project" in Coosa County, Alabama is located in an area with significant historical production of crystalline flake graphite. For further details go to www.alagraphco.com.
Closing of the above transactions is to occur once the Company has completed the requisite filings under CNSX policies.
KEYMARK RESOURCES INC.
Daniel Spine, President & CEO: (404) 661-6254
Bobby Mullins: (647) 341-7645 or (416) 317-4538
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