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Ursa Major appoints new directors to the board

Ursa Major Minerals has appointed two new directors to its board following the announcement of an agreement with Prophecy Platinum Corp. The appointees are John Lee, Prophecy chair and CEO, and Greg Hall, a director of Prophecy Coal Corp.
Northern Ontario Business Staff

Ursa Major Minerals has appointed two new directors to its board following the announcement of an agreement with Prophecy Platinum Corp.

The appointees are John Lee, Prophecy chair and CEO, and Greg Hall, a director of Prophecy Coal Corp. and Prophecy Platinum Corp., and a former director of Silvercorp Metals Inc.

Ursa Major's assets include the Shakespeare PGM, nickel and copper mine located 70 km west of Sudbury.

“We look forward to working with Mr. Lee and Mr. Hall to complete the proposed business combination with Prophecy Platinum,” Ursa president and CEO Richard Sutcliffe said in a news release. “The agreement with Prophecy provides an excellent opportunity to advance the Shakespeare Mine. Our shareholders will participate in a combined company with an outstanding portfolio of assets and substantially improved market capitalization and liquidity.”

Ursa Major announced a merger with Prophecy on March 2 through which Prophecy will issue one common share for every 25 outstanding common shares of Ursa. The transaction is expected to be complete by June 15.