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Vancouver, British Columbia – (February 6, 2018) – Bankers Cobalt Corp. (TSX Venture: BANC) (the “Corporation” or “Bankers”) Bankers Cobalt Corp. Announces Appointment of Simon Tuma-Waku to Board of Directors.
Kevin Torudag, President of Bankers Democratic Republic of Congo (DRC) operating subsidiary stated, “Bankers is delighted to announce Mr. Simon Tuma-Waku has been appointed to its Board of Directors, replacing Mr. Geoff Balderson who has resigned due to other business commitments. Mr. Tuma-Waku is one of the most respected senior mining individuals in the DRC, not only for his expansive mining experience and success, but also for his ethical approach to business and relationships. Bankers could not be associated with a better person in the DRC to guide our Board of Directors through the complexities of DRC mining and business practices.
Bankers wishes to thank Mr. Balderson for his key involvement through the recent amalgamation as President and CEO of Nomad Ventures Inc., the predecessor company to Bankers. We wish Mr. Balderson success in his multiple business ventures.”
Mr Tuma-Waku was Minister of Mines & Hydrocarbons for the DRC between 2001 and 2003. In this role, he was responsible for the drafting and implementation of the mining code and regulations currently in force in the DRC. Most recently, Mr. Tuma-Waku acts as the representative of La Generale des Carrieres et des Mines S.A. (Gecamines) the DRC government mining company, in a joint venture with China Molybdenum on the Tenke Fungurume DRC mining operations that were acquired by China Molybdenum from Freeport McMoRan and Lundin Mining in 2016. He remains a board member of Standard Bank (DRC), Non-Executive Chairman of Mongwalu Gold Mines (MGM) DRC, and National Vice-President in charge of Mining Federation des Enterprise Du Congo. Mr. Tuma-Waku was formerly CEO of Congo Railways Solutions and Executive Chairman of Kamoto Copper Company (KCC), a division of Katanga Mining Limited (KML). Mr. Tuma-Waku holds a Master of Sciences (Mining) degree as well as a Diploma in Business Administration.
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. Bankers efforts 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 26 separate mineral concessions strategically located in the southern DRC Copperbelt and having a total area of more than 391 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 26 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.
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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).