NEW YORK, Jan. 29, 2015 /PRNewswire/ -- Standard Metals Processing, Inc., (OTCQB: SMPR) (the "Company"), announced today that it will expand its board of directors to seven with the addition of four independent directors.
Further, the independent directors will be appointed to SMPR's corporate governance committees in accordance with requisite rules and regulations for companies trading on or seeking to trade on a listed exchange such as NASDAQ or NYSE.
"For the past several months, management has been interviewing key executives that would be willing to join our board as independent directors and make a meaningful contribution to the success of our business. Simultaneously, we expect to expand the Company's oversight and corporate governance efforts with the appointment of independent directors to our audit and compensation committees and establishing and appointing a nominating committee. Recently we announced the first independent director nominee, Jim McBurney. Jim has agreed to serve as the Company's lead director. These steps are being taken to ensure future compliance and allow the Company to apply for movement to a listed exchange," said Sharon Ullman, CEO of Standard Metals Processing, Inc.
For additional information on Mr. McBurney, please see the Company's Form 8-K filed with the Commission on January 28, 2015 and the Company's January 27, 2015 press release.
About Standard Metals Processing, Inc.
Standard Metals Processing, Inc. is being developed as the only comprehensive custom toll milling operation in Nevada that is designed to provide entrepreneurial – mid-mines with four different independent process circuits under one roof in order to produce the greatest yields available through the extraction of precious, strategic minerals from mined material.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Standard Metals Processing, Inc.