TSX: DIAM
SASKATOON, SK , Nov. 16,
2022 /CNW/ - Star Diamond Corporation ("Star
Diamond" or the "Company") announces today that Ken MacNeill, Star
Diamond's President and Chief Executive Officer, and the
Company's board of directors have mutually agreed that he will
retire as an executive and director of the Company effective
December 31, 2022.
Ewan Mason, Chair of the Board,
stated: "On behalf of all shareholders and our board, I want to
thank and extend our sincere gratitude to Ken for his years of
service and the dedication and perseverance he has shown in
advancing the Fort à la Corne project to the stage it is at.
Ken has been steadfast in his belief that this project is one of
the most promising diamond opportunities in the world.
While much work remains to be done to advance this project, Ken has
always worked tirelessly to further the interests of our Company
and all shareholders."
Ken MacNeill, President and CEO,
stated: "I would like to thank the board of directors, and all our
employees, consultants, and contractors for their many years of
hard work and dedication. I would also like to thank our
shareholders for their continued support, guidance and commitment
to the Company over the years. Under the guidance of our board of
directors, Star Diamond will be in
good hands. I believe in the Fort à la Corne project, and the
future it holds."
In order to ensure that the Company retains continued access to
Mr. MacNeill's knowledge and expertise regarding the Fort à la
Corne project, Star Diamond has
entered into a consulting agreement with Mr. MacNeill, with effect
upon the date of his retirement, whereby Mr. MacNeill will serve as
a Special Advisor to the Company's board.
The Company's board is assessing Star
Diamond's executive needs in light of Mr. MacNeill's
retirement at the end of 2022, and expects to announce his
successor in due course.
About Star Diamond Corporation
Star Diamond is a Canadian-based corporation
engaged in the acquisition, exploration and development of mineral
properties. Shares of Star Diamond
trade on the Toronto Stock Exchange under the trading symbol
"DIAM". Star Diamond's
most significant asset is its interest in the Fort à la Corne
property in central Saskatchewan. These kimberlites are
located in close proximity to established infrastructure, including
paved highways and the electrical power grid, which provide
significant advantages for future mine development.
Caution Regarding
Forward-looking Statements
This press release contains "forward-looking statements" and/or
"forward-looking information" (collectively, "forward-looking
statements") within the meaning of applicable securities
legislation. All statements, other than statements of historical
fact, are forward-looking statements. Forward-looking statements in
this press release include, but are not limited to, Mr. MacNeill's
decision to retire effective December 31,
2022 and the Company's expectations regarding its
announcement of Mr. MacNeill's successor.
These forward-looking statements are based on Star Diamond's current beliefs as well as
assumptions made by and information currently available to
Star Diamond and involve inherent
risks and uncertainties, both general and specific. Risks exist
that forward-looking statements will not be achieved due to a
number of factors including, but not limited to, developments in
world diamond markets, changes in diamond prices, risks relating to
fluctuations in the Canadian dollar and other currencies relative
to the US dollar, changes in exploration, development or mining
plans due to exploration results and changing budget priorities of
Rio Tinto or Star Diamond, the
impact of changes in the laws and regulations regulating mining
exploration, development, closure, judicial or regulatory judgments
and legal proceedings, operational and infrastructure risks and the
additional risks described in Star
Diamond's most recently filed Annual Information Form,
annual and interim MD&A.
SOURCE Star Diamond Corporation