VANCOUVER, BC / ACCESSWIRE / January 10, 2024 /Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF)(WKN:A116E1) ("Camino" or the "Company") is pleased to announce that Chris Adams, former head of Macquarie's mining finance business in the Americas, has joined the Camino Board of Directors. In addition, David Baker has stepped down as a Director of the Company and joined the Camino executive team full-time as Chief Financial Officer.
Mr. Adams has over 30 years of mining finance experience and particular mining knowledge in the Americas. With Macquarie, he led teams to evaluate and execute on equity investments and loans to development projects around the world, and marketed commodity derivatives. Prior to Macquarie, Mr. Adams worked in mining investment banking in Canada and Australia for both Macquarie and CIBC. He holds a Bachelor of Commerce degree from McGill University, an MBA from Massachusetts Institute of Technology, and the CFA designation.
Mr. Baker is an MBA and Chartered Accountant (Australia) with over 30 years of experience in public accounting, project development, major mine operations, and government relations. He has spent most of his career working with the Ivanhoe Group of companies led by mining entrepreneur Robert Friedland. Holding multiple roles within the Ivanhoe Group, including Vice President Treasurer, he was intricately involved with the study, development, construction, and financing of the Oyu Tolgoi copper porphyry project in Mongolia. Prior to joining Camino, Mr. Baker was Chief Financial Officer for VRB Energy Inc., a company which manufactures and installs grid-scale vanadium redox battery energy storage systems and is a subsidiary of listed US company Ivanhoe Electric Ltd.
Justin Bourassa, who has served as the Company's Chief Financial Officer since 2019, has resigned from his position but will remain as a key adviser to the Company.
"As Camino continues to advance our projects in Peru and evaluate corporate development opportunities, we are pleased to add the experience of both Chris and David to our team. Chris is highly regarded as a leader in mining finance and is a strong addition to our Board of Directors. David has a long career in the mining industry in roles that have provided a unique opportunity to be involved with major projects from the drilling stage right through to first production and operations," said Jay Chmelauskas, CEO of Camino. "We also thank Justin Bourassa for his dedication to the CFO role for the past several years, and we are grateful that he will remain with the Company in an advisory capacity as we integrate and expand our finance capabilities to support the continued development of our Los Chapitos, Maria Cecilia, and Plata Dorada properties, and our corporate development strategy."
In addition to the Board and executive changes, the Company intends to issue a total of 2,235,295 ordinary shares to Resource Play at a deemed price per share of $0.085 as a Finder's Fee for the Earn-In Agreement reached with Nittetsu Mining Co., Ltd. ("Nittetsu"). The intention to pay the fee was noted in the Company's February 2023 news release and is calculated based on $4,000,000 of actual funds contributed to date by Nittetsu to continue the exploration and development and earn-in at the Los Chapitos property.
The Company will also issue 352,942 ordinary shares at a deemed price of $0.085 to Justin Bourassa, former CFO, in recognition of his contributions to the Company's growth.
All share issues remain subject to TSX Venture Exchange acceptance, and all shares issued thereunder will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation.
About Camino
Camino is a discovery and development stage copper exploration company. Camino is focused on advancing its high-grade Los Chapitos copper project located in Peru through to resource delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for a planned exploration drilling program. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino's website at www.caminocorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the prospectivity of future exploration work and corporate development work and the receipt of necessary authorizations and approvals. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required authorizations and approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
