UPDATE: Jaguar Deepens Loss in TSX As Announces CEO Departure; Shares Saw Heavy Trading Today

Jaguar Mining Inc. (JAG.TO) is in the red for two days now on the Toronto Stock Exchange, down nearly 9% at $6.64 in the afternoon compared to yesterday's $7.29 close, as it announce late Tuesday that Daniel Titcomb will be leaving his role as President and Chief Executive Officer of the Company effective today.

On an interim basis, the Chairman of the Board of Directors, Gary E. German, together with two other Jaguar directors, Gil Clausen and John Andrews, will form a newly-created Office of the Chairman to fulfil the duties of the Chief Executive Officer. These directors also constitute a Special Committee of the Board charged with oversight of the company's strategic process announced in November.

JAG shares saw heavy trading on the TSX today with more than 2.2 million shares that have already changed hands.

Companies: Jaguar Mining Inc

Price: US$6.53. Price Change: -0.71. Percent Change: -9.8.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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