Kombat Copper Appoints Justin Reid as Chairman and Appoints New Director
April 07 2014 - 6:00AM
Marketwired
Kombat Copper Appoints Justin Reid as Chairman and Appoints New
Director
TORONTO, ONTARIO--(Marketwired - Apr 7, 2014) - Kombat Copper
Inc. (TSX-VENTURE:KBT) ("Kombat" or the "Company") announces the
appointment of Justin Reid, a director of the Company since
December 31, 2013, as Chairman of the Board.
Mr. Reid's appointment follows Mr. Charles Mostert's resignation
as Chairman and a director of the Board. The Board and Management
thank Mr. Mostert for his contribution to the company during its
transition phase and wish him well in his future endeavours.
The Board has appointed Mr. Knowledge Katti as a Director. Mr.
Katti is a Namibian entrepreneur who has over ten years of
experience in both Namibian national and international business
experience. His focus has been on developing relationships with
governments, empowerment groups, and community stakeholders, with
the goal of creating long-term sustainable economic and social
growth. Mr. Katti was formerly a Director of UNX Energy Corp. and
the Founder and Chief Executive Officer of Kunene Energy (Pty)
Ltd., the first Namibian oil and gas company. He is also the
Founder of the Knowledge Foundation, which is a charity that
promotes education and poverty reduction in the Republic of Namibia
and the rest of Africa. In connection with his appointment, Mr.
Katti was granted 250,000 options in accordance with the Company's
stock option plan. These options have an exercise price of $0.145
and will expire five years from the date of grant. The options will
vest immediately. The grant of options remains subject to approval
by the TSX Venture Exchange.
About Kombat Copper
Kombat Copper (TSX-VENTURE:KBT) is a publicly traded Canadian
exploration and development company with its core operations
focused on copper resources in Namibia, one of the world's most
prospective copper regions, where it has substantial assets in
place with significant exploration upside.
The Company holds an 80% interest in five mining licenses in the
Otavi Mountainlands, an area of Namibia particularly known for its
high-grade copper deposits. Within these licenses are three
past-producing mines including the Company's flagship property: the
past-producing Kombat Mine. The Kombat Mine's extensive
infrastructure includes an 800m production shaft which was opened
in 2006, three recently-operational shafts, ramp systems, extensive
underground workings, mine buildings, a tailings facility, a mill
and concentrator all supported by the Company's local town site.
The Kombat mine originally opened in 1962 and historically produced
~8.7 million tonnes of ore grading 3.1% copper and is linked to
vital existing infrastructure, including power, water, roads, and
rail with close proximity to the port of Walvis Bay and to one of
only five commercial-grade smelters in Africa located in Tsumeb,
located 100 road kilometers away from Kombat.
In addition to mining licenses, the Company holds an 80%
interest in five Exclusive Prospecting Licenses ("EPLs") covering
an area of more than 1550 km2. The EPLs are located within the
copper-rich Otavi Mountainlands and are in close proximity to
Tsumeb.
Qualified Person
F. W. Nielsen, P.Geo., President and CEO of Kombat Copper, is a
"qualified person" as such term is defined in National Instrument
43-101 and has reviewed and approved the technical information and
data included in this press release.
Cautionary Notes
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release may contain forward-looking statements.
These statements include statements regarding the appointments, the
Company's plans for the Kombat Mine, its expectations for the
Kombat Mine and the expected effect on the Company's financial and
operating results. These statements are based on current
expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially because of
factors discussed in the management discussion and analysis section
of our interim and most recent annual financial statements or other
reports and filings with the TSX Venture Exchange and applicable
Canadian securities regulations. We do not assume any obligation to
update any forward-looking statements, except as required by
applicable laws.
Kombat Copper Inc.Bill NielsenPresident and CEO+1 (416)
861-1685Kombat Copper Inc.Rob HopkinsManager, Investor Relations+1
(416) 861-5899info@kombatcopper.comwww.kombatcopper.com
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