TORONTO, Dec. 15, 2016 /CNW/ - CobalTech Mining Inc. (TSX-V: CSK) (the "Company" or "CobalTech"), is pleased to announce the appointment of Mr. Bruce Bragagnolo, LLB as the Chairman of its Board of Directors.
Mr. Bragagnolo was the co-founder and former Chief Executive Officer of Timmins Gold Corp., an emerging intermediate, Mexican-focused gold producer. He was also the co-founder and the former CEO of Silvermex Resources Ltd., a silver explorer which was acquired by First Majestic Silver in 2011 for a market capitalization of $120 million. Mr. Bragagnolo is also the Chairman of the Board of Directors of Inca One Gold Corp., a Canadian-based mineral processing company with a gold milling facility in Peru.
"We are extremely pleased to welcome to our Board a director with Mr. Bragagnolo's qualifications and experience. His involvement will complement our current board bringing demonstrated and relevant industry experience and strategic acumen to the table," said Antoine Fournier, President and CEO of CobalTech. "His track record building and guiding Timmins Gold through its successful growth period will be a valuable asset to CobalTech at this exciting time in our development and will further support our strategy to deliver value to our stakeholders through good governance, operational excellence, and continued growth."
Spiro Kletas resigned as a director of CobalTech but has agreed to continue acting as an advisor to the Company to assist with the transition in the change of management. The Board of Directors would like to thank Mr. Kletas for all of his hard work and dedication, and wishes him all the best in his future endeavours.
CobalTech Mining Inc. is a cobalt mining and processing company based in Ontario, Canada. The company owns and operates the Duncan Kerr Property located outside of Cobalt, Ontario, in an area known for its geological setting responsible for unique mineralization composed of quartz-carbonate veins enriched in silver-cobalt-nickel-bismuth-arsenic. The company's assets and technology have provided them the foundation to become North America's first vertically integrated cobalt processing company with the capacity to take mineralized ore through production to high-tech metals for use in the lithium battery industry. The company is committed to operating within the strict environmental, health, and safety framework governed by the e3 Plus regulation put forth by the Prospectors & Developers Association of Canada (PDAC).
ON BEHALF OF THE BOARD
(signed) "Antoine Fournier"
Antoine Fournier, P. Geo., M.Sc.
President, Chief Executive Officer and Secretary
Telephone: (819) 354-5215
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Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
SOURCE Cobaltech Mining Inc.
For further information: Contact Person: Mr. Antoine Fournier | President & CEO, Telephone: (819) 354-5215, Email: [email protected]