CALGARY, ALBERTA -- (Marketwired) -- 03/03/15 -- BACANORA MINERALS LTD. (the "Company" or "Bacanora") (TSX VENTURE: BCN)(AIM: BCN) is pleased to announce that the board of directors of the Company has unanimously approved the appointment of David Lenigas as a non-executive director of the Company, subject to and effective upon completion of standard regulatory clearances with the AIM and TSX-V.
With this appointment, Rare Earth Minerals Plc has agreed to withdraw its request to call a Special Meeting of the Company's shareholders, as previously announced in the Company's press release dated February 11, 2015.
Mr. David Anthony Lenigas (aged 53) holds a Bachelor of Applied Science (Mining Engineering) from Curtin University's Kalgoorlie School of Mines and holds a First Class Mine Managers Certificate for Western Australia. Mr. Lenigas has extensive operational and corporate experience in managing companies within the oil and gas, gold, coal and other natural resource sectors. Mr. Lenigas also has a wealth of experience operating in global public markets, having served as a Chairman and/or director and acted in a senior executive capacity on many public company boards. He is currently the Executive Chairman of Rare Earth Minerals Plc, AfriAg Plc, UK Oil & Gas Investments Plc and Evocutis Plc and is the non-Executive Chairman of Inspirit Energy Holdings Plc and is a non-executive director of Octagonal Plc.
Colin Orr-Ewing, Non-Executive Chairman, commented: "We are very pleased to have David join our board and we look forward to working together with him and having him bring his extensive global corporate and mining experience to assist in advancing the Company through this exciting time in its growth and development."
Reader Advisory
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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Contacts:
Bacanora Minerals Ltd.
Colin Orr-Ewing
Non-Executive Chairman
+44 (0) 20 3696 2410
Bacanora Minerals Ltd.
Shane Shircliff
Chief Executive Officer
(403) 237 6122
Bacanora Minerals Ltd.
Martin Vidal
President
(+52 662) 210-0767
