Valencia Announces Appointment of New President

Valencia Ventures Inc. (TSX VENTURE:VVI) ("Valencia" or the "Company") is
pleased to announce Mr. Brett New has been appointed President, Chief Executive
Officer and a Director effective July 17, 2012. Mr. Leigh has resigned as
President and Chief Executive Officer but will remain actively involved with the
Company as a Director. 


Mr. New is a capital markets professional who has spent his entire career
focused on the natural resources space. He joined Forbes & Manhattan, Inc.
("F&M") in 2011 where he has led the group's new business development in Africa
and he has also worked with a number of portfolio companies on a variety of
financings. Prior to joining F&M, Mr. New has held numerous sell side and buy
side roles based both domestically and internationally where he has structured
and executed a substantial number of debt, equity and mergers & acquisitions
transactions in the oil & gas and mining spaces. Mr. New holds a Masters in
Finance from London Business School, a Bachelor of Commerce from the University
of Saskatchewan and is also a CFA charterholder. 


"The Board takes great pleasure in Brett's appointment and we look forward to
his valuable contribution as Valencia shifts its business focus towards resource
opportunities in Africa," said Fred Leigh. "He will bring a strong skill set to
the management team and we have great confidence in his ability to lead the
company going forward." 


The Board of Directors is now comprised of Mr. New, Mr. Leigh, Mr. Bernie
Wilson, and Mr. Benoit Moreau, who joined the board following the Company's
recent annual and special meeting of its shareholders. Mr. Moreau has over 25
years of experience in the mining industry. A geologist who graduated from
Universite of Montreal, he has a mining engineer degree from Ecole Polytechnique
of Montreal and an MBA from University du Quebec a Montreal. He was previously
the Founder and former President of GeoMega Resources Inc. From 2006 to 2008, he
was Project Manager for EarthMetrix Inc., a company offering mineral exploration
services and from 1999 to 2006, he was president of Global Ionix Inc., a company
specialized in metallurgical processes (acquired by Capimont Inc. in 2006). Mr.
Moreau is a member of the Ordre des Ingenieurs du Quebec.


Change of Focus 

The Company will now focus on the identification, evaluation, acquisition and
development of early stage natural resources projects in West Africa. The
Company has initially identified prospects in Sierra Leone, Ivory Coast and
Guinea. "West Africa is a hot area right now and the potential there is
enormous," said Mr. New. "It is a very exciting region." 


Consolidation 

In addition, as approved by shareholders at the annual and special meeting of
shareholders held on June 11, 2012, the common shares of the Company have been
consolidated such that one new common share was issued for every ten old common
shares. A letter of transmittal will be sent by mail to shareholders advising
that the share consolidation has taken effect and instructing shareholders to
surrender the certificates evidencing their common shares for replacement
certificates representing the number of common shares to which they are entitled
as a result of the consolidation. Until surrendered, each certificate
representing common shares prior to the consolidation will be deemed for all
purposes to represent the number of common shares to which the holder thereof is
entitled as a result of the consolidation. 


About Valencia 

Valencia is a Canadian resource company with common shares that trade on the TSX
Venture Exchange under the symbol VVI. 


Forward - Looking Information

Certain information set forth in this press release contains "forward-looking
information" under applicable securities laws. Except for statements of
historical fact, certain information contained herein constitutes
forward-looking information, including statements with respect to management's
assessment of Valencia future plans and operations, which statements are based
on Valencia's current internal expectations, estimates, projections, assumptions
and beliefs, which may prove to be incorrect. Some of the forward-looking
information may be identified by words such as "expects" "anticipates",
"believes", "projects", "plans", and similar expressions. These statements are
not guarantees of future performance and undue reliance should not be placed on
them. Such forward-looking information necessarily involve known and unknown
risks and uncertainties, which may cause Valencia's actual performance and
financial results in future periods to differ materially from any projections of
future performance or results expressed or implied by such forward-looking
information. These risks and uncertainties include, but are not limited to:
liabilities inherent in mine development and production; geological, mining and
processing technical problems; Valencia's inability to obtain required mine
licenses, mine permits and regulatory approvals required in connection with
mining and mineral processing operations; title matters; foreign operations
issues; local community issues; competition for, among other things, capital,
acquisitions of reserves, undeveloped lands and skilled personnel; incorrect
assessments of the value of acquisitions; changes in commodity prices and
exchange rates; currency and interest rate fluctuations; various events which
could disrupt operations and/or the transportation of mineral products,
including labour stoppages and severe weather conditions; the demand for and
availability of rail, port and other transportation services; and management's
ability to anticipate and manage the foregoing factors and risks. There can be
no assurance that forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Valencia undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is cautioned not to
place undue reliance on forward-looking information.
Valencia Ventures (TSXV:VVI)
過去株価チャート
から 5 2024 まで 6 2024