Endomines announces that its Interim CEO and CFO Marcus Ahlström have resigned

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Endomines AB, Stock Exchange Release 20 July 2021 at 15:45 CEST

Endomines AB announces that the company’s interim CEO and CFO, Marcus Ahlström has informed the Board that he will be resigning in October 2021 after serving a notice period of 3 months. By the time he is leaving, Marcus has been with the company nearly four years, and he has now decided to move on to other challenges.  

The Board has started the search for a new permanent CEO and is anticipating being able to have that search completed in the fall.

The Board wants to express its thanks and appreciation to Marcus Ahlström for his leadership and service to Endomines during a most critical period in the company’s history.  When Marcus started as CFO with the company in the beginning of 2018 Endomines had embarked on an ambitious growth plan in the US. During the time with Endomines, Marcus has put in place solid financial and operational company reporting structures. Under his guidance, the company has successfully recruited experienced operation management for both the US and Finnish mine project start-ups. Marcus has also been instrumental in arranging multiple financings, both public and private, to enable the funding of the company and its current mine project start-ups.

Chairman Ingmar Haga: “I want to express mine and the Board’s sincere thanks to Marcus for the role he has played in strengthening company’s finances and his persistence and creativity in addressing and tackling the operational challenges the company has faced during the last few years. Marcus is leaving behind a strong management team and a company in much improved financial shape. We will continue to work closely with him in the months ahead, also ensuring a smooth transition to the new leadership, says Ingmar Haga, Chairman of the Board.”

For further information, please contact:

Ingmar Haga, Chairman of the Board, ingmar.haga@endomines.com, +358 40 700 3518

This information is information that Endomines AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15:45 CEST on 20 July 2021.

About Endomines
Endomines is a mining and exploration company with its primary focus on gold. The Company explores for gold along the Karelian Gold Line in Eastern Finland and develops mining operations in Idaho, USA and Finland. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.

The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).


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