NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Vancouver, British Columbia – (February 1, 2018) – Bankers Cobalt Corp. (TSX Venture: BANC) (the “Corporation” or “Bankers”) announces that Mr. David Frances, a member of the Advisory Board, has agreed to act as a Special Advisor to the Bankers Board of Directors.
Kevin Torudag, President of Bankers DRC operating subsidiary stated: “Bankers is extremely pleased to announce David Frances has agreed to act as Special Advisor to our Board of Directors, representing an increase in his involvement from the previous Advisory Board position. Mr. Frances has an in-depth knowledge of building resource companies in the DRC and in capturing value for stakeholders. In addition to his extensive knowledge base, Mr. Frances has valuable contacts in both the operational and financial market arenas. Mr. Frances will provide strategic advice at the corporate level and assist in building an efficient operating team in the DRC.”
Mr. Frances is an international mining executive of 25 years with a track record of developing assets in the Democratic Republic of Congo (DRC) with Mawson West from 2006-2012. He developed Mawson West from a Western Australian gold hopeful into a significant international copper producer, developer, and explorer in the DRC. After successfully completing a transaction with Anvil Mining and subsequently recommissioning and restarting the Dikulushi copper-silver mine, Mr. Frances then completed the largest base metals capital raise and IPO in the world in 2010 when Mawson West was listed on the TSX with a market capitalization of $250 million. Mr. Frances has also overseen other successful developments which delivered the Challenger gold deposit in South Australia for Dominion Mining – now owned by Kingsgate. Mr. Frances was appointed Chairman of Tiger Resources Limited (ASX:TGS) on December 20, 2017. TGS announced on January 22, 2018, a binding agreement to divest the TGS DRC operations for US$260 million to a consortium comprised of Sinomine Resource Exploration and Shenzen Oriental Fortune Capital.
Bankers is a natural resource company focused on the acquisition, exploration and development of cobalt and copper mineral properties in the DRC to world class Canadian standards. This will address the supply chain custody and verifiable sources of ore issue being imposed on processors in the DRC by consumers. Bankers holds rights to 20 separate mineral concessions strategically located in the southern DRC Copperbelt and having a total area more than 297 km². Bankers has the intention to acquire interests in additional concessions. All concessions were obtained as either new grants or through reputable DRC partners and have clean title with no government involvement, making Bankers one of the few, and perhaps only, junior public mining company in the DRC to have 20 concessions capable of being currently explored and developed. Bankers has an experienced operations team operating in the southern Copperbelt of the DRC. Bankers believes it is one of the front runners in advancing cobalt and copper exploration by a junior mining company in the DRC.
ON BEHALF OF THE BOARD OF BANKERS COBALT CORP.
President & CEO.
For further information:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction, the proposed closing the Transaction, and the outlook of the business of Katanga, including whether Katanga will be successful in developing and selling mineral resources. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction and associated transactions, that the ultimate terms of the Transaction and associated transactions will differ from those that currently are contemplated, and that the Transaction and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Transaction may change based on the Corporation’s due diligence and the receipt of tax, corporate and securities law advice for both the Corporation and Katanga. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation, Katanga, their securities, or their respective financial or operating results (as applicable).