MHM Metals Limited announced that the company has recently been in discussions with Otsana Capital to assist the company identify and acquire a suitable business to facilitate the reinstatement of the company's shares to trading on the ASX. In conjunction with the company, it has been agreed that Otsana Capital will continue to work with the company and they have proposed 3 new directors be appointed to the board, Mr. Faldi Ismail, Mr. Bryn Hardcastle and Mr. Nicholas Young. Mr. Ismail has also been appointed Chairman of the Board. The existing directors, Mr. Joseph van den Elsen, Mr. Francis de Souza and Mr. Paul Harley have resigned from the board, effective immediately. Former Managing Director, Mr. Joseph van den Elsen will continue to assist the company in the near future. In addition to identifying new opportunities to grow shareholder value the new Board will review the proposed takeover offer from Mercantile Investment Company Limited. Mr. Ismail is currently a non-executive director of dual listed Asiamet Limited (previously Kalimantan Gold Corporation Limited), Dotz Nano Ltd, WHL Energy Limited, Cre8tek Limited and Ookami Limited. Mr. Hardcastle is also a non-executive director of Attila Resources Limited, Cre8tek Limited and ServTech Global Holdings Ltd.