Adventus Appoints Project Director for Curipamba Project in Ecuador
Ticker Symbols: ADZN–V, ADVZF-OTCQX
TORONTO, Feb. 4, 2020 /CNW/ - Adventus Mining Corporation ("Adventus" or the "Company") (TSX-V: ADZN; OTCQX: ADVZF) is pleased to announce the appointment of Dustin Small, P.Eng. as Director of Projects to lead the continuing engineering development of the Curipamba project which is centred on the El Domo deposit.
Mr. Small is an engineering, construction, and project management professional with 20 years of experience primarily in the global mining sector, as well as experience in the water treatment, power generation, and oil and gas industries. He is expected to bring a proven track record in the successful planning and execution of projects in the Americas to Adventus, including disciplines such as process plant design, contract and risk management, project controls and cost estimation. Mr. Small comes from a strong EPCM/EPC background and brings knowledge and expertise in all aspects of project development ranging from conceptualization, feasibility studies, engineering, construction, and commissioning. Most recently, he has held project and construction management roles on small to large scale mining projects ranging in size from US$100 million to over US$4 billion with Wood plc (formerly Amec Foster Wheeler) in North America and with Hatch Ltd in Santiago, Chile. Mr. Small holds a Bachelor of Engineering (Mechanical) from Dalhousie University and is a registered Professional Engineer in Ontario and British Columbia, Canada.
As Adventus continues its significant exploration and engineering programs in advancing the Curipamba, Pijilí and Santiago projects in Ecuador, it continues to build its leadership team with proven professionals. Christian Kargl-Simard, President and Chief Executive Officer of Adventus, commented: "We are excited to welcome Dustin and his extensive project experience to lead our Curipamba trade-off and engineering studies which have been ongoing since the completion of the Preliminary Economic Assessment in 2019. Dustin will work closely with Adventus' multi-disciplinary management team based in Toronto and Quito. The advancement of the engineering and exploration programs at Curipamba will allow Adventus to commence the feasibility study in the second half of 2020."
Grant of Restricted Share Units and Stock Options
Adventus announces award of an aggregate of 147,500 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 restricted share units following a two-year period. Adventus has also granted an aggregate of 500,000 incentive stock options (the "Options") under the Company's share compensation to employees of the Company with an exercise price of C$0.86 per Option, exercisable for a period of five years from the date of grant and vesting over a three-year period.
Adventus Mining Corporation 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 has an investment portfolio of equities in several junior exploration companies and exploration projects in Ireland with South32 as funding partner. 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 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 expects or anticipates will or may occur in the future. Although Adventus has 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 undertakes to update any forward-looking information except in accordance with applicable securities laws.
SOURCE Adventus Mining Corporation