Bearing Announces the Appointment of LionOre Mining Founder as Chairman of the Board
20 Agosto 2019 - 9:02AM
Bearing Lithium Corp. ("
Bearing" or the
"
Company") (TSX Venture: BRZ) (OTCQB: BLILF)
(FRANKFURT: B6K2) is pleased to announce the appointment of Mr. Gil
Playford to the Board of Directors as Chairman of the Board. Mr.
Playford is a major shareholder owning over 10% of Bearing’s issued
and outstanding shares.
Mr. Playford is a seasoned senior mining
executive, having spearheaded the sale of LionOre Mining to Norislk
Nickel (NILSY-US) in 2007 for C$6.8 billion in cash. Mr. Playford
started his professional career with Union Carbide Corp. for 25
years and various senior executive positions including Managing
Director in Switzerland, Belgium and Germany. Mr. Playford also was
the Chairman and CEO of Union Carbide Canada and Chief Financial
Officer of Union Carbide in New York. Mr. Playford became Chairman
and CEO of UCAR Carbon, a joint venture with Mitsubishi and took
the partnership public as GrafTech International. Mr. Playford then
went on to found a nickel and gold mining company with assets in
Africa and Australia, LionOre Mining International Ltd., and served
as the CEO and subsequently as Chairman. Mr. Playford was
instrumental in the sale of LionOre to Norilsk Nickel, a Russian
mining conglomerate, in an all-cash offer of C$6.8 billion, having
trumped a rival C$6.2 billion offer from Xstrata PLC. Mr. Playford
holds an Engineering Degree from McGill University in Montreal and
a Masters in Business Administration from York University in
Toronto.
Jeremy Poirier, Bearing's president and Chief
Executive Officer, commented: "We are excited to welcome Mr. Gil
Playford to the Board of Directors and as Chairman of the Board.
Gil will also be representing Bearing’s interest on the Board of
the joint-venture operating company, Minera Salar Blanco (MSB).
Gil’s extensive background with multi-national companies will be
invaluable as we advance the Maricunga project and Bearing through
towards production. Gil’s significant experience in negotiating
with the world’s largest mining houses will be crucial as we
navigate through the upcoming project financing discussions and
other potential transactions."
About Bearing Lithium Corp.
Bearing Lithium Corp. is a lithium-focused
mineral exploration and development company. Its primary asset is
an 18% interest in the Maricunga Lithium Brine Project in Chile.
The Maricunga Project represents one of the highest-grade lithium
brine salars globally and the only pre-production project in Chile.
Over US$30 million has been invested in the Maricunga Project to
date and all expenditures through to the delivery of a Definitive
Feasibility Study have been fully-funded by the earn-in
joint-venture partner.
ON BEHALF OF THE BOARD
Signed "Jeremy Poirier"Jeremy Poirier, President
and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:Jeremy
Poirier – President and CEO Bearing Lithium – Telephone:
1-604-262-8835
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 release.
Cautionary Statements Regarding Forward-Looking
Information
This press release includes certain
"forward-looking information” and "forward-looking statements”
(collectively "forward-looking statements”) within the meaning of
applicable Canadian and United States securities legislation
including the United States Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical
fact, included herein, without limitation, statements relating the
future operating or financial performance of the Company, are
forward-looking statements.
The words "expect", "target", "estimate", "may",
"will" and other similar expressions identify forward-looking
statements. These forward-looking statements relate to, among other
things, the Company’s ability to reach a definitive agreement with
CODELCO, and the future prospects of the Maricunga Project.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which are beyond Bearing’s ability
to predict or control and may cause Bearing’s actual results,
performance or achievements to be materially different from any of
its future results, performance or achievements expressed or
implied by the forward-looking statements. These risks,
uncertainties and other factors include, but are not limited to,
strategic, legal, planning and other risks, the impact of changes
in, or to the enforcement of, laws, regulations and government
practices, potential defects in title to the Maricunga Project that
are not known as of the date hereof, the occurrence of unexpected
financial obligations, fluctuations in the price of lithium and
other commodities, fluctuations in the currency markets, changes in
national and local government, 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), risks related to operational matters and
geotechnical issues, the success of future exploration and
development activities, the occurrence of any labour unrest, the
ability to accurately predict decommissioning and reclamation
costs, the risk of budget and timing overruns, potential opposition
to the Maricunga Project by local communities and the ability to
secure construction financing. Such forward-looking statements are
also based on a number of assumptions which may prove to be
incorrect including changes in Maricunga Project parameters as
plans continue to be evaluated as well as those factors disclosed
in the Company's documents filed from time to time with the
securities regulators in the Provinces of British Columbia and
Alberta. Accordingly, readers should not place undue reliance on
forward-looking statements. Bearing undertakes no obligation to
update publicly or otherwise revise any forward-looking statements
contained herein whether as a result of new information or future
events or otherwise, except as may be required by law.
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