Canadian Gold Corp (STRRF)

[Pennybuster]

Satori Resources (TSX-V:BUD, StockForum), a Toronto-based mineral exploration and development firm transitioning into the emerging medical marijuana sector, announced the resignation of one its board members today.



According to the news release, Ms. Pamela Strand has handed in her post to pursue a new career path and with the understanding that the company may be considering an alternative transaction, a nominee will not be appointed to fill the vacancy until a formal corporate direction has been decided on.



The company has made application to the TSX Venture Exchange for a 90-day waiver from the three-member board of directors minimum.



Satori president and CEO, Jennifer Boyle, commented on Strand's departure, “It is with great regret that we accept Pam's resignation, however, the timing is coincident with the Company's efforts in the evaluation of alternative businesses (or assets) and accordingly, provides us with the opportunity to build a team more conducive to what may ultimately be considered a change of business.”



She went on to conclude, “Given that the mineral claims for the Tartan Lake Gold Mine project in Flin Flon, Manitoba remain in good standing, and the carrying costs are minimal, the Company is able to retain the Mine for a time when markets are more favourable or a viable transaction can be considered, and yet simultaneously pursue new opportunities that may be more aligned with current market conditions.”



Satori was in the news recently when the company was mentioned in an article where a veteran analyst likened the green rush to the dot com bubble.



Currently there are 53.1m outstanding shares with a market cap of $4.8 million.




Read more at http://www.stockhouse.com/news/natural-resources/2014/03/27/satori-resources-(v-bud)-director-resigns-duri-(1)#HX8DbBEzGJ48wekS.99