Nautilus Minerals announces departure of President and CEO Michael Johnston

[seabedmining]

TORONTO, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Nautilus Minerals Inc. (TSX:NUS, OTC:NUSMF Nasdaq Intl Designation) (the "Company" or "Nautilus) announces the departure of President and CEO Mike Johnston with immediate effect. Mr. Johnston will be replaced by independent Director Mr. John McCoach, who is appointed as Interim CEO, also with immediate effect.

Tariq Al Barwani, Nautilus' Chairman said, "We thank Mike for his long service with Nautilus Minerals. Mike was one of the original members of the Nautilus team with the vision that the future of mining would include the seafloor.”

John McCoach, currently a Director of the Company, has been appointed Interim CEO. John’s focus will be to advance Nautilus’ ongoing capital formation program. John said, “I am confident that the Nautilus’ senior management will continue to operate the Company in a professional manner, and the entire Nautilus Team will see us through to our vision of becoming the World’s leading seafloor mining company.”

https://globenewswire.com/news-release/2018/08/07/1547828/0/en/Nautilus-Minerals-announces-departure-of-President-and-CEO-Michael-Johnston.html

[GGGGG]

"departure" doesn't sound amicable.

[seabedmining]

will probably be related to financing (or not financing until now) - Tariq will not be happy about the timeline - or whatever else ?

[GGGGG]

will probably be related to financing (or not financing until now) - Tariq will not be happy about the timeline - or whatever else ?

  Probably salary related.  He either wanted to be paid in stock/options or they wanted to pay him in stock/options.  I wish I knew the answer.

[dkeller]

will probably be related to financing (or not financing until now) - Tariq will not be happy about the timeline - or whatever else ?

  Probably salary related.  He either wanted to be paid in stock/options or they wanted to pay him in stock/options.  I wish I knew the answer.

Another rat jumping ship!!

[sycamoresouth]

I'm fairly sure he was pushed and didn't jump.  See the history of LNG.  Pretty much the same thing happened.  It's still going strong.  Of course NUSMF was heading down today on a lot of volumn.  But maybe this is the catylst to get it on the move.

[Monk3]

Sorry Mike, but I like it. He did somehow finagle that PNG arbitration deal at the last minute but, never cared for him and his HRT. Saves a million a year, wonder what McCoach will take as compensation. This isn't a rat jumping ship, he got the boot. Hopefully, McCoach will get this going quick, he must have an impressive contact list. Good ol' Canadian boy will get 'er done eh! Give'r John, WFO! Got to love NUS stock holders.

"This just in... NUS CEO gets the boot! NUS shares plunge 1 cent on a volume of 191,000 or $23,000!"

[Classicact]

[quote='Monk3' pid='82207' dateline='1533664770']

Sorry Mike, but I like it. He did somehow finagle that PNG arbitration deal at the last minute but, never cared for him and his HRT. Saves a million a year, wonder what McCoach will take as compensation. This isn't a rat jumping ship, he got the boot. Hopefully, McCoach will get this going quick, he must have an impressive contact list. Good ol' Canadian boy will get 'er done eh! Give'r John, WFO! Got to love NUS stock holders.

**********"This just in... NUS CEO gets the boot! NUS shares plunge 1 cent on a volume of 191,000 or $23,000!"

Thanks for reporting the perspective, too much overreaction on all of these in reality non-sell offs.  Again, its just us ants selling off  few shares.