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Atacama Resources Intl. CEO Glenn Grant Announces His Resignation as a Step Towards Getting the Cease Trade Order Revoked

August 30, 2024 8:00 AM EDT | Source: Atacama Resources International Inc.
Orlando, Florida–(Newsfile Corp. – August 30, 2024) – Atacama Resources International Inc. (OTC Pink: ACRL) (the “Company”) announces the resignation of Chief Executive Officer Glenn Grant. He and the Board of Directors felt that this action was necessary to meet the requirements of the Alberta Securities Commission (“ASC”) to expedite the path toward removing the Cease Trade Order (“CTO”) levied against the Company.

Since July 27, 2018, the Company has been subject to the CTO. The original path toward revocation included providing the ASC with audited financial statements over the past two years and maintaining appropriate disclosures in Canada.

The Company sent over 1000 pages to appropriately respond to the ASC’s comments. Upon receipt of these responses, the ASC indicated that it was pausing further review as a result of a pending action by the Enforcement Division of the ASC. The Company has been in negotiations with the ASC’s Enforcement Division regarding purported breaches of the CTO. The ASC is currently proceeding with a Notice of Hearing against the Company.

Mr. Grant has chosen to step down from all positions within the Company. New management and directors shall be announced shortly.

“I am extremely proud of the new additions to the Board of Directors and Management. I am convinced this is a good move for the company because, as the roles of the management team expand, they will showcase their skills to the company and deliver for the shareholders. The new Board lineup and officer slate are strong,” Grant says. “This had to happen to get us closer to getting the Cease Trade Order revoked. Once the CTO has been revoked, Canadians, who may know the promise of our properties best due to their closer proximity, will be able to purchase shares once again,” he adds.

Former Chief Operating Officer Dan Finch and now-resigned Chief Executive Officer Glenn Grant were asked to rejoin Atacama in 2022. They made the decision to aim to get the Cease Trade Order revoked by meeting the ASC’s requirements for revocation regardless of time, effort, and expense. They and the current management team felt the 2400+ shareholders deserved this management action.

Grant’s resignation as Chairman and Director of the Atacama Board of Directors, and as CEO and President of the company, was made effective August 27, 2024. He is a major shareholder of the company.

Atacama Resources International remains committed to maintaining transparency, delivering shareholder value, and advancing its position as an innovative force in mineral exploration.

About Atacama Resources International

Atacama Resources International is a publicly traded OTC Pink company with significant mining claims in the greater Kirkland Lake area of Northern Ontario. Metals and minerals under potential exploration include gold, silver, lithium, graphite, cobalt, and diamonds. Please visit the company’s website at www.acrlintl.com for more information.

Forward-Looking Statements

Certain information outlined in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Atacama Resources International. Such forward-looking statements are based on current expectations, estimates, and projections about the Company’s industry, management beliefs, and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise, and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company’s actual results to differ materially from those contained in these forward-looking statements can be found in the Company’s periodic reports filed with OTC Markets. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.

For more information, please contact Greg Praver, Chief Operating Officer, at (770) 733-3017

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Professional headshot of Brian Praver of Atacama Resources International in black suit against black background

David Jackson

Research Geologist

David Jackson has extensive international experience in geological consulting and project evaluation. His work spans multiple jurisdictions and includes both field-based exploration and analytical interpretation.

At Atacama, he contributes to geological analysis and project evaluation across the company’s exploration portfolio.

Professional headshot of Brian Praver of Atacama Resources International in black suit against black background

William MacRae, P.Geo.

Geologist and Qualified Person

William MacRae has more than 40 years of experience in mineral exploration, with a focus on gold systems. He has been involved in exploration programs ranging from grassroots work through advanced stages.

At Atacama Resources, Mr. MacRae oversees aspects of exploration and drilling activities and serves as the company’s Qualified Person, supporting technical disclosure and regulatory reporting.

Professional headshot of Brian Praver of Atacama Resources International in black suit against black background

John Grant

Director and Exploration Consultant

John Grant brings over 40 years of experience in mineral exploration, including work with both major and junior mining companies. His experience includes gold exploration programs in Ontario and the interpretation of geophysical survey data.

At Atacama Resources, he contributes to exploration planning and interpretation, including work related to the company’s properties in the Kirkland Lake District.

Professional headshot of Brian Praver of Atacama Resources International in black suit against black background

Don Swartz

Director

Don Swartz has experience in organizational consulting and corporate governance. He has worked with large institutions including Boeing, Microsoft, Intel, and U.S. government entities.

At Atacama, he contributes to board-level oversight and governance structure, including the establishment of corporate committees aligned with public company requirements.

Professional headshot of Brian Praver of Atacama Resources International in black suit against black background

Greg Praver

Chief Operating Officer, Corporate Secretary

Greg Praver oversees the operational functions of Atacama Resources, coordinating across internal teams and external stakeholders including legal, accounting, and regulatory partners.

As a director and corporate officer, he plays a key role in corporate administration, compliance, and execution of company initiatives.

Professional headshot of Brian Praver of Atacama Resources International in black suit against black background

Brian Praver

President, Business Development

Brian Praver has experience in organizational leadership, team development, and business strategy. His role at Atacama Resources focuses on business development, strategic partnerships, and identifying opportunities aligned with the company’s exploration objectives.

He holds a background in economics and international business and contributes to the company’s positioning within the broader resource sector.

Professional headshot of Brian Praver of Atacama Resources International in black suit against black background

Thomas Moynihan

Chief Executive Officer, Chairman, and Chief Financial Officer

Thomas Moynihan brings over 40 years of experience in accounting, auditing, fundraising, and financial consulting. He has worked with both major U.S. companies and private enterprises, providing financial oversight and strategic guidance.

At Atacama Resources, Mr. Moynihan is responsible for corporate leadership, financial management, and overall strategic direction. His background includes extensive experience in capital formation and corporate structuring, supporting the company’s development as a publicly traded exploration issuer.