ScoZinc Announces Appointment of Mine Manager of Its Scotia Mine and VP of Investor Relations
October 07 2019 - 6:37AM
ScoZinc Mining Ltd. (
TSX-V: SZM)
(“
ScoZinc” or the
“
Company”) is pleased to announce
that it has appointed Mr. Jason Baker as its new Mine Manager of
ScoZinc’s 100% owned Scotia Mine, and also appointed Mr. Candrea as
its new Vice-President of Investor Relations.
The President and CEO, Mr. Mark Haywood, stated
“I am very pleased to welcome Jason Baker and Simion Candrea to
ScoZinc. Both Jason and Simion are highly experienced and competent
professionals who are expected to contribute enormously towards
implementing the Company’s new strategies.”
Mr. Baker brings with him over 20 years of
Mining Industry related experience in both exploration and mining
operations. He has previous experience with mining operational
start-ups at the senior management level in Nova Scotia and holds a
B.Eng in Mining Engineering from Dalhousie University. He has a
strong technical background with extensive experience in NI 43-101
reporting at the Preliminary Economic Assessment, Pre-Feasibility
Study and Feasibility Study levels. Prior to joining our Scotia
Mine, Mr. Baker was a key member of management for a start-up
operation in Nova Scotia that is now one of the world’s lowest cost
gold producers.
Mr. Candrea has 15 years of experience in the
Mining Sector. Prior to joining ScoZinc, he worked in the
investment banking groups of Jennings Capital Inc. and AltaCorp
Capital Inc. During this time, Mr. Candrea advised senior
management teams on numerous mergers and acquisitions and corporate
finance transactions. He was responsible for originating,
structuring, and executing buy and sell side M&A mandates as
well as equity capital markets transactions. He has worked closely
with various Natural Resources focused institutional investors,
private equity firms, hedge funds and also family offices actively
investing in the mining space. Mr. Candrea holds a BSc in
Management.
Pursuant to the Company’s Stock Option Plan, the
Board of Directors has granted Mr. Baker 20,000 Stock Options in
the Company at an exercise price of CDN$0.60 each. All Mr. Baker’s
Options have a 5-year expiry term and vest in equal installments
each year over a 3-year period. Additionally, the Board of
Directors has granted Mr. Candrea 25,000 Stock Options in the
Company as follows: 9,000 Options at an exercise price of CDN$0.45
each; 9,000 Options at an exercise price of CDN$0.60 each; and
7,000 Options at an exercise price of CDN$0.75 each. All Mr.
Candrea’s Options have a 5-year expiry term, with 25% of each grant
vesting immediately, and the remainder vesting in 25% increments
every six months thereafter.
Approval of Mr. Candrea’s appointment as
Vice-President of Investor Relations is subject to approval by the
TSX Venture Exchange.
Please note that, until further notice, the
Company’s website at www.scozinc.com is under re-construction. In
the meantime, information on the Company’s filings can however be
viewed on the Company’s profile on www.sedar.com.
About ScoZinc Mining Ltd.
ScoZinc is an established Canadian exploration
and development company that has full ownership of the Scotia Mine
(Zn/Pb) and related facilities near Halifax, Nova Scotia. ScoZinc
also holds several prospective exploration licenses nearby its
Scotia Mine and in surrounding regions of Nova Scotia. The Scotia
Mine is currently on care and maintenance, however the Company
intends to restart operations as soon as possible. The Company’s
common shares are traded on the TSX Venture Exchange under the
symbol “SZM”.
For more information, please contact:
Mark Haywood |
President & Chief Executive Officer |
Rob Suttie |
Chief Financial Officer & Corporate Secretary |
Office |
#15601 Highway 224 Cooks Brook, Nova Scotia, B0N 2H0,
Canada |
Telephone |
+1 (902) 758-1010 x108 |
Email |
info@scozinc.com |
Web |
www.scozinc.com (currently undergoing re-construction) |
|
|
CAUTIONARY STATEMENTSNeither
the 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 news
release.
This News Release includes certain
forward-looking statements which are not comprised of historical
facts. Forward-looking statements include estimates and statements
that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this
news release includes, but is not limited to, the Company’s
objectives, goals or future plans, statements, potential
mineralization, exploration and development results, the estimation
of mineral resources, exploration and mine development plans,
timing of the commencement of operations and estimates of market
conditions. In particular, the Company has not made a
production decision with respect to ScoZinc’s Scotia Mine. The
Company has not completed a feasibility study or established the
economic viability of the Project or proposed operations on
ScoZinc’s Scotia Mine, and no mineral reserves have been
established for ScoZinc’s Scotia Mine that would support a
production decision. Mineral exploration projects which are put
into production without first establishing mineral reserves and
completing a feasibility study have historically had a higher risk
of economic or technical failure. There can be no assurance that
forward-looking statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from ScoZinc’s expectations
include, among others, availability and costs of financing needed
in the future, changes in equity markets, risks related to
international operations, the actual results of current exploration
activities, delays in the development of projects, conclusions of
economic evaluations and changes in project parameters as plans
continue to be refined as well as future prices of metals, as well
as those factors discussed in the section entitled “Risk Factors”
in ScoZinc’s Management’s Discussion and Analysis. Although ScoZinc
has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
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