VANCOUVER, April 1, 2013 /PRNewswire/ - Polaris Minerals Corporation (TSX: PLS) (the "Company") is pleased to advise that Lenard ("Len") F. Boggio BA, BComm, FCA, CPA ( Illinois), ICD.D has been appointed to the Board of the Company.
Mr. Boggio is a very experienced finance professional having been a partner in PricewaterhouseCoopers, where he led the BC Mining Group, prior to his recent retirement. He has extensive experience in financial reporting and auditing, public finance offerings, and mergers and acquisitions. He is a board member of a number of Canadian resource companies and his professional activities include appointments as a Commissioner of the Financial Institutions Commission of BC and as Vice-Chair of the Canadian Institute of Chartered Accountants. This appointment is subject to the approval of the Toronto Stock Exchange and in connection with the appointment, the Company has granted Mr. Boggio 50,000 stock options exercisable at $1.05 per share with a term of ten years.
Len Boggio will succeed Paul Sweeney as Chair of the Company's audit committee and also take his place on the Governance, Compensation and Nominating Committee. Mr. Sweeney, who has been a board member for nine years and chaired the audit committee for the past five years, wishes to step down at the upcoming Annual General Meeting.
Herb Wilson, President and CEO, commented: "We are delighted to have Len Boggio joining the board and bringing a wealth of appropriate experience in financing and regulation. I would also like to offer sincere thanks to Paul Sweeney who steps down after many years of exceptional contribution".Polaris Minerals Corporation is exclusively focused on the development of quarries and the production of construction aggregates in British Columbia for marine transport to urban markets on the Pacific coasts of North America to meet growing local supply deficits. In 2007, Polaris began shipping sand and gravel from the Orca Quarry to San Francisco Bay, Vancouver and Hawaii. SOURCE Polaris Minerals Corporation