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TORONTO, May 7, 2020 /CNW/ - Central Timmins
Exploration Corp. ("CTEC" or the "Company") (TSXV:CTEC) is
pleased to announce the appointment of Joseph Ovsenek to the position of President and
CEO and as Chairman of the Board of Directors, and the appointment
of Mr. Ron MacDonald to the Board of
Directors.
Mr. Joseph Ovsenek has been
appointed to the position of President and Chief Executive Officer
and Chairman of the Board of Directors of the Company. Mr.
Ovsenek was most recently President and CEO of Pretium Resources
Inc. where he led the advance of the high-grade gold Brucejack Mine
which has been operating profitably since commercial start-up in
2017. Mr. Ovsenek began his nine-year tenure at Pretium in
2011 as Chief Development Officer and led the financing of the
company from exploration stage to operations and was subsequently
appointed President in 2015 and President and CEO in 2017.
Prior to Pretium he served for 15 years in senior management roles
for Silver Standard Resources Inc., lastly as Senior Vice
President, Corporate Development responsible for the sale of the
Brucejack and Snowfield assets to the newly created Pretium
Resources Inc. Mr. Ovsenek holds a Bachelor of Applied
Science degree from the University of British
Columbia and a Bachelor of Laws degree from the University of Toronto. Mr. Ovsenek is a registered
member of the Association of Professional Engineers and
Geoscientists of British
Columbia.
CTEC is also pleased to announce the appointment of Ron MacDonald to the Company's Board of
Directors. Mr. MacDonald is a Chartered Professional
Accountant, Chartered Accountant who specialized in corporate
taxation with a career of 36 years at Deloitte LLP until his
retirement in 2018 as Partner in Charge of the Vancouver
Global Employer Services Group. Mr. MacDonald taught tax at
universities as well as the Institute of Chartered Accountants of
BC and the Canadian Institute of Chartered Accountants In-depth Tax
Program. He is a Retired Member of the Chartered Professional
Accountants of British Columbia
and holds Bachelor of Science and Licentiate of Accounting degrees
from the University of British
Columbia.
The Company also wishes to announce that Mr. Wes Roberts has resigned as a director of
CTEC. Mr. Neville Dastoor will
remain on the Company's board of directors but will no longer be
Chairman. Mr. Dastoor stated "The Company would like to
extend its appreciation for the contributions that Mr. Roberts has
made to CTEC over the years. The appointment of Ron to the
board and Joe to the roles of Chairman, President and CEO mark the
continued effort by CTEC to position the Company for success.
Joe's appointment is a key step in the progression of the strategic
review and repositioning process we announced in November
2019. We look forward to Joe and his team continuing this
process."
About Central Timmins Exploration Corp.
CTEC is an early-stage Canadian junior exploration company with
property primarily within the city limits of Timmins in the Porcupine Mining District in
the northeastern region of Ontario. The Corporation's assets are
prospective for gold as well as a suite of base metals. See the
company website at www.centraltimmins.com.
Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable securities laws that is intended to be
covered by the safe harbours created by those laws.
"Forward-looking information" includes statements that use
forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative
thereof or other variations thereof or comparable terminology. Such
forward-looking information includes, without limitation, the
Corporation's expectations, strategies and plans for the Timmins
Properties, including the Corporation's planned exploration
activities and the intended uses of the net proceeds of the
IPO.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made. Furthermore,
such forward-looking information involves a variety of known and
unknown risks, uncertainties and other factors which may cause the
actual plans, intentions, activities, results, performance or
achievements of the Corporation to be materially different from any
future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward-looking
information. See "Risk Factors" in the Corporation's final
prospectus dated October 4, 2018
filed on SEDAR at www.sedar.com for a discussion of these
risks.
The Corporation cautions that there can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, investors should not
place undue reliance on forward-looking information.
Except as required by law, the Corporation does not assume any
obligation to release publicly any revisions to forward-looking
information contained in this press release to reflect events or
circumstances after the date hereof.
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Central Timmins Exploration Corp
