Ex Hecla Chairman and CEO Arthur Brown Appointed as Chairman of Silvermex
16 Diciembre 2009 - 8:25AM
Marketwired
Silvermex Resources Ltd. (TSX VENTURE: SMR) (the "Company" or
"Silvermex") is pleased to announce the appointment of Mr. Arthur
Brown as the new Chairman of the Board ("Executive Chairman"), and
Director of Silvermex Resources Ltd. This appointment will become
effective January 1, 2010 and has been made as an on going effort
to add experienced leadership, production experience, depth and
diversification to Silvermex's management team.
Arthur Brown, retired in 2006 as Chairman of Hecla Mining
Company (NYSE: HL), headquartered in Coeur d'Alene, Idaho. During
his 39 year tenure at Hecla, he held several senior operating
positions within the Company, he became President of Hecla in 1986
and was named Chairman and Chief Executive Officer in 1987. He
graduated from Witwatersrand Technical College, South Africa, as a
mining engineer in 1961. Following his graduation, he worked at
Cementation Co. in Canada until 1967, when he began his career with
Hecla Mining Company as an industrial engineer. Mr. Brown serves as
a director on the boards of AMCOL International Corporation (NYSE:
ACO) and Idaho Independent Bank. He is a former Director of the
National Mining Association and served as a Director of The Gold
Institute and The Silver Institute (Past President). He is past
president of the Idaho Mining Association. He is also a Trustee for
the University of Montana Foundation (Past Chairman). He is a
member of the audit and compensation committees of Amcol
International.
The Board of Directors of Silvermex welcomes Mr. Brown to the
Silvermex team and to the position of Executive Chairman. Duane
Nelson comments, "I am honored that Mr. Brown has agreed to become
the Executive Chairman and a Director of Silvermex. Under his
leadership, Hecla grew to one of the world's largest and most
successful silver mining companies. His unparalleled industry
knowledge and extensive experience will provide strong guidance on
all levels of Silvermex's growth. He will add tremendous value to
our company through his vast experience within all aspects of the
precious metals industry and his extensive relationships in the
global mining and financial communities."
Mr. Brown comments: "After reviewing the technical data and
visiting Silvermex's core projects, I am quite confident that
Silvermex has a real opportunity to become a significant mining
company in relatively short time. The existing resources are high
grade and near surface, in very wide structures, and these are
generally amenable to development with a low amount of capital
cost. The projects offer tremendous opportunity for resource
growth. I am excited to join Silvermex and help to guide this
dynamic team which is committed to delivering shareholder value
through a strategy of production at its projects and growth thru
exploration on its significant land position. The ability for a
young exploration company to attract such a talented Board of
Directors, speaks highly of the company's projects, management and
future prospects."
Mr. Brown will become fully active with Silvermex on January 1,
2010. The Board of Directors of Silvermex intends to grant Mr.
Brown a signing bonus, subject to receipt of required regulatory
approvals, of an aggregate of 500,000 common shares (the "Common
Shares") as a retention and incentive bonus. The Common Shares will
be issued in increments over a one-year period from the date of
receiving all necessary approvals and will be subject to certain
conditions. The Company will also issue 250,000 common share
purchase options ("Stock Options") pursuant to Silvermex's
incentive stock option plan (the "Plan"). Each Stock Option can be
exercised into common shares of the Company at an exercise price of
$0.34 per share. The term of the Stock Options granted under the
Plan will be five years. The grant of Shares and Stock Options are
subject to receipt of all required regulatory approvals including
the TSX Venture Exchange.
The Company also announces that Bruce Bragagnolo will be
retiring as Chief Executive Officer to focus his efforts as CEO of
Timmins Gold Corp. Mr. Bragagnolo is one of the founders of
Silvermex and has been with the company since May, 2005. The Board
of Directors would like to thank Mr. Bragagnolo for his many
contributions to Silvermex. Mr. Bragagnolo will continue to serve
the company as a Director and Advisor. The Board is pleased to
announce that Duane Nelson has accepted the position of Chief
Executive Officer.
This News Release contains forward-looking statements. Forward
looking statements are statements which relate to future events. In
some cases, you can identify forward-looking statements by
terminology such as "may", "should", "expects", "plans",
"anticipates", believes", "estimates", "predicts", "potential", or
"continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors that may
cause our or our industry's actual results, level of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance, or achievements
expressed or implied by these forward-looking-statements.
While these forward-looking statements, and any assumptions upon
which they are based, are made in good faith and reflect our
current judgment regarding the direction of our business, actual
results will almost always vary, sometimes materially, from any
estimates, predictions, projections, assumptions or other future
performance suggests herein. Except as required by applicable law
the Company does not intend to update any forward-looking
statements to conform these statements to actual results.
Neither 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 release.
Contacts: Silvermex Resources Ltd. Duane Nelson Director
604-638-8971 www.silvermexresources.com
Shine Minerals (TSXV:SMR)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Shine Minerals (TSXV:SMR)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024