Adventus Mining Announces Board Changes as a Result of New Government Appointments in Ecuador
TORONTO, May 25, 2021 /CNW/ - Adventus Mining Corporation ("Adventus" or the "Company) (TSXV: ADZN) (OTCQX: ADVZF) is pleased to announce changes to its board of directors to reflect management changes at Consorcio Nobis ("Nobis"), one of Ecuador's largest private organizations and a strategic investor in Adventus.
Mr. Roberto Salas has been designated as Ecuador's new Minister of Energy and Non-Renewable Natural Resources as a member of the new national government cabinet led by President Guillermo Lasso. Mr. Salas resigned from his roles as Vice Chairman and Chief Executive Officer of Nobis as well as Non-Executive Director of Adventus on May 21, 2021, prior to the inauguration of the new government on May 24, 2021.
Mark Wellings, Chairman of Adventus, commented: "The Board and I would like to thank Roberto Salas for his insightful service and support of Adventus since the strategic investment by Nobis in 2019. We wish Roberto well as he joins the new government of Ecuador and will surely contribute his extensive international business experience to Ecuador's continuing economic and social development for all stakeholders. Adventus looks forward to working with President Lasso and his administration in advancing responsible exploration and mining activities in Ecuador, which includes the future construction and operation of the El Domo - Curipamba mine that is projected to contribute several hundred million US dollars in foreign direct investment and development benefits to Ecuadorians during the project life."
Adventus expects to receive and publicly announce Nobis' new board nominee ahead of the Company's Annual General Meeting that is scheduled for June 10, 2021. The appointment of the new director nominee will be subject to TSX Venture Exchange review and acceptance.
Consorcio Nobis is one of Ecuador's largest private organizations, with business interests across the agricultural, real estate, industrial, commercial, construction and tourism sectors. The group was founded by Executive President Isabel Noboa Pontón in 1997 and has since developed into one of the country's most successful and respected private enterprises. Highlights of its business portfolio in Ecuador include:
- Partner with DP World in the Posorja deep-water port
- One of the largest agricultural conglomerates
- One of the largest private and commercial real estate owners and operators, including malls, hotels, resorts and apartments
- Largest ethanol and clean energy producer from sugarcane by-products
Along with its diverse business portfolio, Nobis is a leader in community development and philanthropy initiatives through the Nobis Foundation (Fundación Nobis), which aims to educate and enable women, youth and low-income communities within Ecuador. Please visit: https://www.consorcionobis.com.ec/
Adventus Mining Corporation is an Ecuador focused copper-gold exploration and development company. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus is advancing the El Domo copper-gold project through a feasibility study, while exploring the broader Curipamba district. 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 porphyry projects to date. Adventus also controls an exploration project portfolio in Ireland with South32 Limited as funding partner as well as an investment portfolio of equities in several 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