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Vancouver, British Columbia – (February 20, 2018) – Bankers Cobalt Corp. (TSX Venture: BANC) (the “Corporation” or “Bankers”) is pleased to announce that Mr. Royston Denysschen has been appointed to the Bankers Board of Directors.
Kevin Torudag, President of Bankers’ Democratic Republic of Congo (DRC) operating subsidiary stated, “We are pleased to welcome Mr. Royston Denysschen to the Board of Directors of Bankers. Mr. Denysschen is a respected metals trader and business developer with responsibility for the African market for Transamine Trading. Royston conducts a substantial portion of his copper trading business in the DRC and brings his years of experience and Africa-focused mining sector business network to Bankers. Bankers’ business model is to acquire concessions in the DRC possessing a high potential for cobalt and copper; develop those assets utilizing world-class Canadian exploration standards to delineate a resource; and sell the resource to DRC processors having excess capacity and a need for certified supplies of cobalt and copper ore. Mr. Denysschen’s in-depth knowledge and relationships with DRC processors will be of great assistance in fulfilling our business plan.”
Mr. Denysschen replaces Mr. Len Clough, who has resigned due to other business commitments. Bankers thanks Mr. Clough for his contribution to the Bankers board and wishes him continued success in his business ventures.
Mr. Denysschen is based in Johannesburg, South Africa, and has been the lead trader for the Africa operations of Transamine Trading since February 2010. Transamine Trading, established in 1953, focuses on trading of primarily ores and concentrates of copper, cobalt, zinc, nickel, lead, tin, lithium, gold and silver. He is responsible for managing the network and business for Transamine in Africa including DRC. Mr. Denysschen maintains client relationships with an established network of suppliers, customers, service providers and general business contacts and assesses projects for investment or finance.
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).