Adventus Appoints Country Manager in Ecuador
TORONTO, Oct. 23, 2019 /CNW/ - Adventus Mining Corporation ("Adventus" or the "Company") (TSX-V: ADZN; OTCQX: ADVZF) and its board of directors and management team are pleased to announce the appointment of Mr. Alvaro Dueñas as Country Manager of Ecuador.
Mr. Dueñas is Ecuadorian and a qualified lawyer with over 20 years of international business experience focused primarily on development of natural resources and foreign trade in Ecuador. Most recently, Mr. Dueñas was the Country Manager of Codelco's subsidiary in Ecuador and responsible for the growth and development of its exploration project portfolio and relations with government and community representatives. As an independent consultant and senior advisor, Mr. Dueñas has been an instrumental member of high-profile negotiation teams in Ecuador, including on the trade agreements between the Andean Community and European Union and Mercosur, Ecuadorian free trade agreement with the United States of America, and commercial agreements with the Governments of Canada and Chile. In other Ecuador government related roles, Mr. Dueñas is a former Undersecretary of International Trade and Investment, former Director of International Negotiations in the Ministry of Foreign Trade, Industry, Fishing and Competitivity, and Arbitration Secretary in the Arbitration and Mediation Center of the Ecuadorean-American Chamber of Commerce. Mr. Dueñas holds a doctorate in jurisprudence from the Pontificia Universidad Católica del Ecuador, with additional specialization with the negotiation and conflict resolution program at Harvard Law School.
Working closely with partners Salazar Resources Limited, Consorcio Nobis (Nobis Group) and stakeholders in Ecuador, Mr. Dueñas will lead all in-country commercial activities, government relations, and support ongoing exploration and project development work programs for Adventus. Mr. Dueñas is based in Quito, Ecuador.
Christian Kargl-Simard, President and Chief Executive Officer of Adventus, commented: "We are pleased to welcome Alvaro and his extensive commercial and mining sector experience in Ecuador. Alvaro will be an integral member of the Adventus management team and contribute in-country leadership as we continue work programs on our projects and evaluate new growth opportunities in Ecuador."
Grant of Restricted Share Units and Stock Options
Adventus announces award of an aggregate of 200,000 restricted share units ("RSUs") under the Company's share compensation plan to new officers, employees and consultants. Each RSU represents a right to receive one common share of the Company, following the vesting of such restricted share units over a two-year period.
Adventus has also granted an aggregate of 1,250,000 stock options under the Company's share compensation to new officers, employees and consultants of the Company with an exercise price of C$0.97 per stock option, exercisable for a period of five years from the date of grant and vesting over three years.
Adventus is a well-financed exploration and project development company, focused in Ecuador. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Resource Capital Funds, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus is leading the exploration and engineering advancement of the Curipamba copper-gold project in Ecuador as part of an earn-in agreement to obtain a 75% ownership interest. In addition, Adventus is engaged in a country-wide exploration alliance with its partners in Ecuador, which has incorporated the Pijili and Santiago projects to date. Adventus is based in Toronto, Canada, and is listed on the TSX-V 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 press release contains "forward -looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.
Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that Adventus expect or anticipate will or may occur in the future. Although Adventus have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Adventus undertake to update any forward-looking information except in accordance with applicable securities laws.
SOURCE Adventus Mining Corporation