Trevali Announces Leadership Transition
Dr. Mark Cruise to step down as President and Chief Executive Officer and Mr. Mike Hoffman to step down as Chair of the Board of Directors
VANCOUVER, British Columbia, Jan. 17, 2019 (GLOBE NEWSWIRE) — Trevali Mining Corporate (“Trevali” or the “Company”) (TSX:TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) wishes to announce that as part of the Company’s ongoing transformation, vision and strategy to be a premier global base metals mining company, Dr. Mark Cruise plans to step down as President and Chief Executive Officer of the Company and Mr. Mike Hoffman plans to step down as Chair of the Board of Directors of the Company. Both Dr. Cruise and Mr. Hoffman will continue in their current roles until their successors are appointed in order to ensure a smooth transition to a new leadership team for the long-term benefit of Trevali and its stakeholders.
Dr. Mark Cruise, Trevali’s President and Chief Executive Officer stated: “The Board and I have agreed that it would be an appropriate time for me to step down as an executive of the Company. Over the past decade Trevali has transformed from a successful explorer to a multi-operational, zinc focused, global base metal mining company. 2018 was a busy year as we built the new management and operating teams and the Company is well positioned for my successor to take the Company to the next stage of its evolution. Given my intimate knowledge of the assets I look forward to continuing to support the team going forward.”
Mr. Mike Hoffman, Chair of the Board of Directors said: “On behalf of the Board of Directors of Trevali, I would like to extend our sincere thanks to Mark for his vision and commitment as President and Chief Executive Officer. He has worked tirelessly to build Trevali into the operationally diversified and well capitalized zinc focused producer it is today and leaves in place an excellent team and a bright future. We are pleased that Mark will remain with the Company in order to ensure a successful transition as we continue our evolution from a successful exploration company into a major producer.”
The Board of Directors has commenced searches for a new President and Chief Executive Officer and a new Chair of the Board. During the interim period, the Board of Directors has formed a Transition Oversight Committee to oversee the search process and ensure an efficient transition, and to provide additional oversight and support to the President and Chief Executive Officer and his team, as well as the Chair, throughout the leadership transition.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused, base metals company with four mines: the 90% owned Perkoa mine in Burkina Faso, the 90% owned Rosh Pinah mine in Namibia, the wholly-owned Caribou mine in the Bathurst Mining Camp of northern New Brunswick in Canada, and the wholly-owned Santander mine in Peru.
The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company’s website (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
TREVALI MINING CORPORATION
“Mike Hoffman” (signed)
Mike Hoffman, Chair of the Board of Directors
Steve Stakiw, Vice President – Investor Relations and Corporate Communications
Phone: (604) 488-1661 / Direct: (604) 638-5623
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of the Canadian securities legislation and “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Exchange Act of 1934, as amended, the United States Private Securities Litigation Reform Act of 1995, or in releases made by the United States Securities and Exchange Commission, all as may be amended from time. Statements containing forward-looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Such forward-looking statements and information include, but are not limited to, statements as to the resignation of the President and Chief Executive Officer and Chair of the Board of Directors, the identification and appointment of a new President and Chief Executive Officer and Chair of the Board of Directors, and the role and activities of the Transition Oversight Committee of the Board during the transition process.
These statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. If any assumptions are untrue, it could cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such statements. Assumptions have been made regarding, among other things, present and future business strategies and the environment in which the Company will operate in the future, including commodity prices, anticipated costs and ability to achieve goals.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the ability to attract suitable executive and board leadership, the ability to grow the assets and operations of the Company, as well as other risks as more fully described in the Company’s annual information form for the year ended December 31, 2017, which is available on the Company’s website (www.trevali.com) and filed under our profile on SEDAR (www.sedar.com). Investors are cautioned against attributing undue certainty or reliance on forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
Source: Trevali Mining Corporation