Nautilus Minerals’ directors resign

Four of Nautilus Minerals’ five directors have resigned, the Toronto-based underwater mineral exploration company said on Wednesday.

John McCoach has also resigned as the company’s chief executive officer.

Tariq Al Barwani remains a director of Nautilus and has appointed the company’s CFO, Glenn Withers, as managing director of Nautilus.

As previously disclosed, Nautilus will be delisted from the TSX effective April 3, 2019.

“Nautilus is focused on maximizing the benefit for all of its stakeholders through the sale and investment solicitation plan (SISP). PWC is very capably overseeing the implementation of the SISP,” Al Barwni said.

“On behalf of the company I would like to thank John McCoach and the other departing board members for their enormous contributions.”

The company said it will report on the outcome of the SSIP in late June or early July, 2019.