New Interim President and Other Management Changes

2021-03-30 / @thenewswire

(TheNewswire)

Montréal – TheNewswire - March 30, 2021– St-Georges Eco-Mining Corp. (CSE:SX) (OTC:SXOOF) (FSE:85G1) (CNSX:SX.CN) would like to inform its shareholders and stakeholders that effective immediately, Herb Duerr will assume the positions of interim CEO and interim President. Today, the board of directors received the resignation of Mr. Vilhjalmur Thor Vilhjalmsson from his position as President and CEO of St-Georges Eco-Mining Corp. and from his directorships in St-Georges, Iceland Resources, and EVSX. Vilhjalmur will stay with the Company in a consulting capacity.

Mr. Vilhjalmsson, who took on the interim positions of President & CEO of St-Georges in August 2018, commented: “(…) I have enjoyed working with the St-Georges team over the past four and half years and I feel this is the time to attend to other ventures. I look forward to helping the team when needed and staying in a supportive role as one of its largest shareholders (…)”

Frank Dumas, the current Company COO, commented: “(…) Vilh volunteered to fill the void at a very dark time in the history of the Company when a major transaction unexpectedly collapsed (…) during his tenure he was instrumental in putting the Company back on track, got ZeU Technology, Inc listed on the CSE, completed the acquisition of the remainder of Iceland active mineral licenses that were not already with St-Georges, negotiated grants and a strategic pilot plant partnership for the company’s metallurgical R&D effort, helped improve the Company balance sheet, and was central in the push to create EVSX and its EV battery recycling business model (…) he worked tirelessly in improving shareholder value (…) he took over a Company in disarray, sheltered management from relentless critic and harassment following the transaction failure and he is now leaving a Company that is all cashed up and now has 10 times the market capitalisation it had when he took over the job (…) this is a new chapter in the story of St-Georges and we are happy to retain access to Vilh while he moves his focus to his other ventures (…)”

Effective immediately, Kristín Ólafsdóttir returns to St-Georges as an independent director, bringing a wealth of legacy knowledge to St-Georges as she was previously the CEO of Iceland Resources ehf. She has worked in arctic region exploration at the project management and senior management levels. Kristín holds an undergraduate degree in Political Science, a master’s degree in Public Administration, and a diploma in financial economics.

Thordis Bjork Sigurbjornsdottir, who joined the Icelandic team in August 2020, is confirmed in her roles as President & CEO of Iceland Resources. Thordis commented, “(…) It has been a pleasure to work with Vilh since coming on board with St-Georges. It is an honour to continue the work he has carried out in Iceland over the last decade, and we are poised to build on the solid foundation he's constructed. Our team is on the ground in Iceland and is ready to take the next steps. Thanks to Vilh, we are in a strong position to continue our work in Iceland. We look forward to summer 2021. (…)”

Mark Billings, the Chairman of the Company, added, “(…) I would like to thank Vilh for his invaluable contributions to St-Georges over the past years as President and CEO. The Company is in a much stronger condition today than when Vilh first joined us. We recently completed private placements that have strengthened St-Georges’ financial condition. We have spun off ZeU Technologies, solidified our position in Iceland and added EVSX to the St-Georges family. While I am personally sad to see Vilh move on to other opportunities, I am glad that he will stay connected with the Company as a consultant. (…)”

Herb Duerr, a current director of the Company, commented: “(…) We deeply appreciate Vilh’s hard work and strong ethics. His relentless efforts and vision for the future allowed the St-Georges group of companies to evolve and expand to its present size. Vilh has also charted a course for future endeavours in Canada, Iceland, and other parts of the world, which we will continue to pursue. I wish him the best in his new ventures. (…)”

ON BEHALF OF THE BOARD OF DIRECTORS

“Mark Billings”

MARK ANTHONY BILLINGS
Chairman of the Board

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls all the active mineral tenures in Iceland. It also explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on the Québec’s North Shore. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.

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.