TORONTO, March 28,
2024 /CNW/ - Adventus Mining Corporation
("Adventus" or the "Company") (TSXV: ADZN) (OTCQX:
ADVZF) is pleased to announce the appointment of Maryse Bélanger as
a non-executive Director and the new Chair of the Board of
Directors (the "Board"), effective as of today. Ms. Bélanger
succeeds Mark Wellings, current
Director and Chair of the Board, who is retiring after over seven
years of dedicated service to the Company.
Maryse Bélanger brings over 35 years of experience with
development and production stage mining companies globally with
proven strengths in operational excellence and efficiency,
technical studies, and services. She has provided oversight
and project management support through some of the mining
industry's key strategic acquisitions. Ms. Bélanger was appointed
Board Chair at Iamgold in February
2022. She was Interim President and CEO of Iamgold from
May 2022 to the end of March 2023 and retired as a Director in
September 2023. From July 2016 to July
2019, Ms. Bélanger was President, COO and Director of
Atlantic Gold Corporation, where she successfully guided the
company in taking its Touquoy Mine in Nova Scotia from construction to
commissioning, ramp up and full production, through its eventual
acquisition by St. Barbara for C$722
million. Ms. Bélanger is currently a Director of Equinox
Gold Corp. She was recognized twice by the Women in Mining UK 100
Global Inspirational Women in Mining Project as one the most
inspirational Global Women in Mining and named one of the ten most
influential women in the mining industry. She holds a Bachelor of
Science degree in Geology, a graduate certificate in Geostatistics,
ICD.D designation and she is fluent in English, French, Spanish and
Portuguese.
Christian Kargl-Simard,
President and CEO of Adventus commented: "The Company wishes
to thank Mark for his unwavering commitment as we have grown the
Company since its founding in 2016. His experience and mentorship
have been invaluable, and I speak on behalf of the whole Board and
management team when I say it has been a pleasure working with him.
Adventus is at an exciting and important juncture in its growth,
and Ms. Bélanger's extensive experience across the mining industry
at the highest levels is very relevant for the Company. Her
insights will strengthen our position as we continue to pursue
growth opportunities and we look forward to her contribution as a
Director and Chair of the Board."
Mark Wellings, commented:
"I am very proud of what Adventus has achieved since its
founding, and so it is bittersweet to be moving on, but it is the
right juncture to step back, acknowledging the capable leadership
Maryse will bring to the Company. I look forward to watching the
Company's continued growth under her guidance."
Maryse Bélanger, commented: "After visiting the
Company's El Domo - Curipamba project and meeting the locally based
team, I know Adventus today presents a significant opportunity for
a wide range of stakeholders. I am focused on the challenges ahead
and committed to help navigate a successful path forward. I am
excited to work with the teams in Canada and Ecuador."
Grant of Stock Options and Restricted Share Units
The Company also announces that it has granted an aggregate of
1,040,000 incentive stock options under the Company's share
compensation plan to Directors, employees and consultants, with an
exercise price of C$0.32 per stock
option, exercisable for a period of 5 years from the date of grant
and vesting over 3 years.
The Company has also awarded an aggregate of 70,000 restricted
share units ("RSUs") under the Company's share compensation
plan to employees. Each RSU represents a right to receive one
common share of the Company, following the vesting of such RSUs
over a 2-year period.
About Adventus
Adventus Mining Corporation is an Ecuador-focused copper-gold exploration and
development company. Adventus is advancing the 215 sq. km
majority-owned Curipamba copper-gold project, which has a completed
feasibility study on the shallow and high-grade El Domo deposit.
With the recent merger with Luminex Resources Corp., Adventus also
owns the Condor gold project and a large exploration project
portfolio that spans over 135,000 hectares – one of the largest
holdings in Ecuador. The Company's
strategic shareholders include Ross
Beaty's Lumina Group, Altius Minerals Corporation, Wheaton
Precious Metals Corp., and significant Ecuadorian investors.
Adventus is based in Toronto,
Canada, and is listed on the TSX Venture Exchange under the
symbol ADZN and trades on the OTCQX under the symbol ADVZF.
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 release contains certain "forward looking statements" and
certain "forward-looking information" as "defined under applicable
Canadian and U.S. securities laws. Forward-looking statements and
information can generally be identified by the use of
forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. The forward-looking
information contained herein is provided for the purpose of
assisting readers in understanding management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes.
Forward-looking statements relate to future events or future
performance and reflect the Company's expectations or beliefs
regarding future events. Forward-looking statements include, but
are not limited to: the Company's ability to utilize and integrate
Maryse Bélanger's past experiences in pursuit of the Company's
current business objectives; the grant of incentive stock
options and RSUs, including the timing of the vesting, exercise, or
conversion of the incentive stock options and RSUs granted, if at
all; and statements that address activities, events, or
developments that Adventus expects or anticipates will or may occur
in the future. By their very nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause our actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Such factors include, amongst others, risks related to
the exploration, development, production, recoveries and other
anticipated or possible future developments at the Company's
mineral properties, including, without limitation, that
exploration, development and production activities will not occur
at all or within the expected timelines; and general economic,
business and political conditions.
Forward-looking statements relate to future events or future
performance and reflect Adventus' expectations or beliefs regarding
future events. Forward-looking information are based on Adventus
management's reasonable assumptions, estimates, expectations,
analyses and opinions, which are based on such management's
experience and perception of trends, current conditions and
expected developments, and other factors that management believes
are relevant and reasonable in the circumstances, but which may
prove to be incorrect. Such factors, among other things, include:
business integration risks; fluctuations in general macroeconomic
conditions; fluctuations in securities markets; fluctuations in
spot and forward prices of copper or certain other commodities;
change in national and local governments, legislation, taxation,
controls, regulations and political or economic developments; risks
and hazards associated with the business of mineral exploration,
development and mining (including environmental hazards, industrial
accidents, unusual or unexpected formations pressures, cave-ins and
flooding); discrepancies between actual and estimated metallurgical
recoveries; inability to obtain adequate insurance to cover risks
and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and
claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses,
permits and approvals from government authorities); and title to
properties, along with the other risks and factors set forth in the
Company's continuous disclosure filings.
Adventus undertakes no obligation to update forward-looking
information except as required by applicable law. Such
forward-looking information represents management's best judgment
based on the information currently available. No forward-looking
statement can be guaranteed, and actual future results may vary
materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information.
Please also visit the Adventus website at www.adventusmining.com
and follow us on X/Twitter: https://twitter.com/AdventusMining and
LinkedIn:
https://ca.linkedin.com/company/adventus-mining-corporation.
SOURCE Adventus Mining Corporation