Adventus Mining Announces Board Adjustments and Increased Insider Ownership
TORONTO, Jan. 15, 2021 /CNW/ - Adventus Mining Corporation ("Adventus" or the "Company) (TSXV: ADZN) (OTCQX: ADVZF) announces adjustments to its board of directors to align with corporate governance guidelines and to reflect internal business changes to some of our strategic shareholders.
Mark Wellings, one of Adventus' original independent directors, will assume the role of Chairman of Adventus, with Brian Dalton, Adventus' founding Chairman and current President and CEO of Altius Minerals Corporation ("Altius") announcing his intention to not stand for re-election at the Company's upcoming AGM being planned for June 2021. Brian expects to continue in his role as a non-independent director of Adventus until that time and subsequently has agreed to remain available as needed as an advisor to the Company.
Brian Dalton commented, "I am very proud to have played a role in the founding and development of the Company over these past several years but due to increasing time commitments related to other parts of Altius's business, I believe it is in the best governance level interest of Adventus that I now step back into a less intensive role. This decision has been made easier by my complete confidence in Mark, Christian and the full board and management teams to execute on strategies and to represent the interests of all shareholders, including Altius, in a most able fashion going forward. I will continue to remain available in an advisory capacity once my current board term expires and can further convey that Altius intends to continue to be an enthusiastic and supportive major shareholder of Adventus as its impressive business development record continues to build."
The Company also announces that Roberto Salas will replace Roberto Dunn as Consorcio Nobis nominee to the Adventus board subject to TSX Venture Exchange acceptance. Mr. Salas recently succeeded Roberto Dunn as the CEO of Nobis. Roberto is an Ecuadorian-born economist, and former CEO and board member of several multinational corporations in Chile and Brazil. He is currently the Vice Chairman and CEO of Consorcio Nobis, editorial provider to Ecuador's El Comercio and AméricaEconomia.com, and a professor of management at the Catholic University of Guayaquil-Ecuador. Roberto has an MBA from Esade-Adolfo Ibáñez Business School, and he studied management programs at Wharton and Kellogg Business Schools.
The Company also notes that insiders of Adventus have acquired approximately 500,000 common shares of Adventus over the past month and that incoming director Mr. Salas has in particular acquired approximately 800,000 common shares of Adventus for his personal account.
Mark Wellings commented, "The Board and I would like to thank Brian for his foresight, passion and expertise in founding Adventus several years ago and his stewardship as Chairman throughout the last few years. Brian was instrumental in championing our current management team and exceptional asset base in Ecuador. Furthermore, the Board and I would also like to thank Roberto Dunn for his unwavering service and support over the last 20 months, including his public markets outreach and Ecuadorian insight."
Adventus Mining Corporation is a unique copper-gold exploration and development company, focused primarily on Ecuador. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, 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 copper-gold projects to date. Adventus also controls an exploration project portfolio in Ireland with South32 as funding partner as well as an investment portfolio of equities in several junior exploration companies. 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 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