April 11, 2018 - Marimaca Copper Corp. (“Coro” or the “Company”) (TSX Symbol: COP) is pleased to announce the appointments of Mr Armando Véliz as CFO, and Mr Nicholas Bias as VP Corporate Development. These appointments will strengthen the Company’s management team with new finance and capital markets skills.
Mr Armando Véliz brings to Marimaca Copperover two decades of accounting and financial experience, largely in South America and the mining sector. He has held a variety of senior accounting, finance and commercial positions at Nyrstar, Latin American Invest Chile and Xstrata. He is an Argentinian certified public accountant in addition to holding a Bachelors Degree in Accounting. Mr Véliz will be based in Santiago, Chile and starts on April 16, 2018.
Mr Damian Towns, who is based in Vancouver and has served as the CFO since the Company’s inception, will assist in transitioning his role to Mr Véliz over the coming months.
VP Corporate Development Appointment
Mr Bias started his career as an equity analyst at Citibank in London, after which he moved into industry, where he managed investor relations for high-growth mining companies including LionOre Mining, and later, led investor relations for the IPO of Glencore, the largest IPO in the metals and mining sector at the time. He brings to Marimaca Copperglobal experience of capital markets. Mr Bias holds a Bachelors Degree in Law and an MBA with a specialisation in commodity trading, shipping and finance. Mr Bias will be based in London, effective immediately. In addition to corporate development, Mr Bias will manage corporate communications for Coro, a role previously led by Ms Naomi Nemeth.
Commenting on the management changes, Mr Luis Tondo, President and Chief Executive Officer said: “First of all, I would like to thank Mr Towns and Ms Nemeth for their hard work and dedication to the Company, helping Marimaca Copperto reach our current stage of development. I believe that Marimaca Copperhas an exciting period ahead as we unveil our new corporate strategy to develop and optimize the value of our asset portfolio. This requires a new management structure, and I am confident that we have attracted the right people at the right time that will fit well with our needs going forward. I am delighted to count on such high calibre professionals as Mr Véliz and Mr Bias and look forward to working with them. In the coming weeks, this will unfold as we release an updated strategy and feasibility study for the Marimaca claim.”
Note: Marimaca Copper Corp has entered a services agreement for the appointment of Mr Nicholas Bias.
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements or information, include but are not limited to timing of delivery of a feasibility study for the Marimaca claim and the announcement and successful implementation of a new corporate strategy. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Coro’s ability to predict or control and may cause Coro’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to,the completion of assays and drill rig availability, occurrence of unexpected financial obligations, fluctuations in the price of commodities; fluctuations in the currency markets; changes in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); the presence of laws and regulations that may impose restrictions on mining and employee relations. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company’s documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador. Accordingly, readers should not place undue reliance on forward-looking statements. Marimaca Copperundertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.