99 CAPITAL ANNOUNCES DUANE PARNHAM AS EXECUTIVE CHAIRMAN OF THE BOARD AND
FURTHER MANAGEMENT APPOINTMENTS
Trading Symbol: WDG - (TSX.V)
VANCOUVER, Nov. 3 /CNW/ - 99 Capital Corporation (the "Company") is pleased to announce the immediate appointment of Mr. Duane Parnham as Executive Chairman of the Board of Directors as well as the appointment of Mr. Mark Monaghan as Executive Vice President and Mr. Knowledge Katti as Vice President, Business Development.
Mr. Parnham is currently the Chairman of UNX Energy Corp as well as an Independent Director of Angus Mining (Namibia) Ltd. Mr. Parnham delivers to 99 Capital over ten years of experience specifically working in Africa. As the founding member of Forsys Metals Corp, Mr. Parnham was instrumental in obtaining a mining licence for the company's Valencia uranium deposit. His relationships and expertise developed throughout a 29 year career spanning successes in mining, government relations, capital markets, and corporate management.
Mr. Monaghan is a business consultant with 18 years of institutional equities and public company experience. His career has spanned across corporate finance, corporate development, merchant banking, executive management and board appointments. Mr. Monaghan has extensive experience in international resource finance, corporate development and management strategy. He holds board seats on Aldridge Minerals Inc, Lara Exploration Ltd. and UNX Energy Corp.
Mr. Katti is a director of UNX Energy Corp and the Chief Executive Officer of Kunene Energy (Pty) Ltd. He is a distinguished Namibian businessman with over 10 years of experience in national and international exploration, government relations and advisory services. He is also a strategist that will add value to the growth of the Company through his strategic relationships in the region.
Alexander Helmel, President and CEO of the Company, stated, "I welcome Mr. Parnham as Chairman of the Board as well as Mr. Monaghan and Mr. Katti to the Company's management. This accomplished team has been highly successful in the mining industry and brings extensive experience and expertise to 99 Capital. Their operating experience in the mining industry and Africa in particular provide the required skill set to develop the Giyani assets in South Africa as we work toward closing in coming weeks. I look forward to future collaboration with our new team as we take 99 Capital through its next stage of development."
In connection with these appointments, the Company further announces that it has granted an aggregate of 1,000,000 options to directors, management and consultants. Each option is exercisable at $1.30 per share valid until November 3, 2015.
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.
On behalf of the Board of
99 Capital Corporation,
"Alexander Helmel"
Alexander Helmel,
President & CEO
This news release contains forward-looking statements regarding the future success of the business of the Company that is subject to risk and uncertainties. Examples of such forward-looking statements including, but are not limited to, statements concerning the Company's acquisition of the interest in the Giyani Gold Project, expectations concerning the timing and success of exploration activities generally, government regulation of exploration and mining operations, indications and benefits of exploration, drilling test work and engineering assessments, environmental risks, tile disputes or claims, and the Company's intention to raise additional capital and financing. These forward-looking statements involve known and unknown risk and uncertainties that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. These risks include risks related to dependence on key personnel, competition, risks related to newly acquired businesses, uncertainty and dilution of additional financing and ability to service debt, as well as the risk factors described in the Company's Management Discussion and Analysis filed on SEDAR at www.sedar.com, and the risks to be described in any Management Information Circular. The forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
%SEDAR: 00026192E
For further information:
Alexander Helmel, President at 604-676-4133
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