Emerita Resources (EMOTF) announces that David Gower, CEO, Director and co-founder of Emerita, and Larry Guy, Chairman of the Company have resigned from their roles, effective immediately. Gower will be replaced by Joaquin Merino as Interim Chief Executive Officer while the Company conducts a search for a replacement Chief Executive Officer. David Patterson will replace Guy as Chairman. The company said, “Messrs Gower and Guy have voluntarily resigned given their presence as directors and officers has created unnecessary distractions for the Company in light of the recently announced untested allegations by the Ontario Securities Commission. Each of Messrs Gower and Guy strongly dispute the Allegations and intend to contest the proceeding. They will continue to provide technical and administrative support to the Company in a consulting capacity during this period of transition in order to avoid any disruption to the ongoing advancement of the Company’s key activities in Spain, in particular as it relates to upcoming development, technical and regulatory milestones for the Iberian Belt West Project.”
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