TORONTO, Dec. 18, 2019 (GLOBE NEWSWIRE) -- Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF) (“Discovery” or the “Company”) is pleased to announce the appointment of Mr. Forbes Gemmell as Vice President of Corporate Development and Investor Relations, effective January 6, 2020.
Taj Singh, President and CEO, states, “We are very excited to welcome Forbes to the management team at Discovery. His capital markets background in conjunction with his corporate experience in exploration and project development will be key assets in driving value creation through the advancement of Discovery’s flagship Cordero project as well as through broadening the Company’s exposure within the investment community.”
Mr. Gemmell has more than 15 years of mining industry experience across capital markets, exploration, project development and operations. This experience includes senior management roles focused on corporate strategy, acquisition and divestitures, investor relations, capital raising, feasibility studies and project optimization.
Mr. Gemmell was most recently VP of Corporate Development at Guyana Goldfields Inc., a mid-tier gold producer with operations in Guyana. Mr. Gemmell oversaw the merger and acquisitions strategy for the company, managed and supervised the completion of multiple feasibility studies, and played a key role in overseeing several construction and development projects. Prior to this role, Mr. Gemmell was the CEO of Lago Dourado Minerals Ltd., a gold exploration company focused on Brazil. Mr. Gemmell also worked in the capital markets earlier in his career, both on the sell-side, as an equity research analyst covering the precious metals sector with Raymond James Ltd., and on the buy-side, as an equity analyst with Colonial First State in Sydney, Australia. Mr. Gemmell holds a Bachelor of Economics (Actuarial Studies) and is a CFA charterholder.
The Company also announces the granting of 400,000 incentive stock options to Mr. Gemmell (“Options”), each of which are convertible into one Discovery common share for a period of five years after issuance. All Options will be issued on January 6, 2020, with an exercise price per share equal to the closing price of Discovery common shares on the TSX Venture Exchange on January 3, 2020. Discovery has reserved and set aside 400,000 common shares for issuance on exercise of the Options. 133,333 Options will vest immediately on January 6, 2020, 133,333 Options will vest on January 6, 2021, and 133,334 Options will vest on January 6, 2022.
On Behalf of the Board of Directors
Taj Singh, M.Eng, P.Eng, CPA
President, Chief Executive Officer, and Director
Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF) is a Canadian exploration and development company headquartered in Toronto, Canada focused on historic mining districts in Mexico. Discovery’s flagship project is its 100%-owned Cordero silver project in Chihuahua State, Mexico. The 35,000-hectare property covers an entire porphyry district that hosts the Cordero deposit and numerous exploration targets for bulk tonnage diatreme-hosted, porphyry-style, and carbonate replacement deposits. In addition, Discovery holds a 150,000-hectare land package containing numerous high-grade carbonate replacement-style silver-zinc-lead exploration projects in Coahuila State, Mexico. The Coahuila project land holdings contain numerous historical direct-ship ore workings and significant underground development.
For further information: Discovery Metals Corp., (416) 613-9410, firstname.lastname@example.org
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This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although Discovery believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. There can be no assurance that the Private Placement will close on the announced terms. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws.