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Metallum names new CEO, to reclassify as investment company

MetallumResources Inc. said April 11 that it has named Wade Dawe as CEO, effectiveApril 15.

Dawe served the company as a director for approximatelythree years. He will take over from interim CEO Robert Suttie, who will remain inthe capacity of CFO, a role he has held for the last nine years.

The company also said that, with the amicable terminationof the transaction with OneUp Games, it will apply for a change of business withthe TSX Venture Exchange to reclassify Metallum as an investment company focusedupon the strategic acquisition of public company securities.

Metallum is currently evaluating new investment opportunitiesrelating to the potential change of business. Trading in the company's securitieswill remain halted until the change in business has been completed.

The company also said that,pursuant to the terms of the settlementwith OneUp Canada following the lawsuit,Metallum is now in receipt of 1,562,500 class A common shares and 800,000 warrantsof OneUp Canada, at an exercise price of 25 U.S. cents per share for a period oftwo years.