Cooks Brook, Nova Scotia, October 7, 2019 – 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 qual 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 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
Web (currently undergoing re-construction)
Neither 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 the ScoZinc Mine. The Company has not completed a feasibility study or established the economic viability of the Project or proposed operations on the ScoZinc Mine, and no mineral reserves have been established for the ScoZinc 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.