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Share Name | Share Symbol | Market | Type |
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Sino Vanadium | TSXV:SVX | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
The Board of Sino Vanadium Inc. ("Sino Vanadium" or the "Company") (TSX VENTURE:SVX) is pleased to announce the expansion of its management team, brought on to implement the Board's aggressively focused business plan to grow Sino Vanadium and expand the Company's international presence. Sino Vanadium, currently in the exploration stage, has the opportunity to acquire several near-production properties, and has decided to augment its corporate and technical team in order to speed the road to production on its cornerstone Daquan property, pave the way for quick acquisitions, build a strong growth trajectory, and strengthen its international profile. The expansion of the management team includes the appointments of Enrique Lopez de Mesa as President and Chief Operating Officer; Paul Sarjeant as Chief Technical Officer; Harvey McKenzie as Chief Financial Officer; and Robin Sundstrom to provide investor-relations services. Pursuant to the appointment of the new members of management and the new investor-relations provider, the Company issued a total of 1,550,000 options to purchase common shares of the Company, with each option being exercisable at $0.37 per common share for a period of five years and vesting as to 25% on the date of grant and 25% every six months thereafter. "Sino Vanadium has the potential to become a significant producer of vanadium pentoxide (V2O5)," said Dr. Ma Zhaoyang, co-founder and Chairman. "With these appointments, we are rounding out the team and providing additional resources for the Company in terms of their collective Canadian, Chinese, and international business and financial acumen, operational and technical expertise, and industry knowledge. In tandem with the Board, this group will be able to execute on near-term and future acquisitions and other opportunities quickly and effectively." "We are in the process of bringing into production a formidable V2O5 supplier, and each individual in this new management group offers both the international experience and the business skills helpful to advance our business plan," said Mr. Liu Binqqiang, co-founder and CEO. "We are very pleased to welcome Enrique Lopez de Mesa, Paul Sarjeant, Harvey McKenzie, and Robin Sundstrom to our team." Brief bios on the additional team members appear below. Enrique Lopez de Mesa, M.B.A., President and Chief Operating Officer Mr. Lopez de Mesa is a senior mining and financial professional with significant capital market experience. He has been active with such mining groups as Alpaca Resources Inc., a Peruvian mining exploration company, and Southern Oregon Gold Corp.; in addition he serves as director of two TSX-V listed resource companies, among other previous public-company directorships. Previously he was a Canadian Vice-President for the leading mid-market financial services company in Hong Kong. His investment banking and corporate finance experience at PWC Securities and Barclays PLC's investment bank includes debt and equity issues, M&A, and valuations in a variety of sectors, completing more than 35 transactions for upwards of C$1.5 billion. Mr. Lopez de Mesa will be working with existing management to improve access to project and acquisition capital. Paul Sarjeant, P.Geo, Chief Technical Officer Mr. Sarjeant is an mining executive with more than 25 years' experience, having led several mining companies, including Grandview Gold; in addition he serves as a director or technical consultant to a number of public and private mining companies. Previously, he operated a successful securities business focused on strategic planning and investment analysis with Wood Gundy and served as President and CEO of Auric Resources, a precious metals exploration company focused in Peru. He began his career with Echo Bay Mines Ltd. as a project geologist working on projects in the NWT, BC, and Ecuador, and worked at the Lupin Gold mine and other operations. Prior to leaving Echo Bay, he held the position of Senior Geologist, International Exploration Group, responsible for project evaluation and development outside of the Americas. Mr. Sarjeant will be augmenting the company's technical team. Harvey H. McKenzie, C.A., Chief Financial Officer Mr. McKenzie is a Chartered Accountant with more than 35 years' accounting experience, including seven years with an international public accounting firm. Most recently, he has spent more than ten years as the CFO for several Canadian publicly listed exploration, development, and producing mining companies, most notably with Iberian Minerals (with properties in Spain and Peru), Asian Mineral Resources, and Eurasia Gold. Following his years in public accounting at PricewaterhouseCoopers and Ernst & Young, his public-company experience includes the TSX, TSX-V and AIM, which gives him a solid grasp of global reporting standards, IFRS, and consolidation of reporting for worldwide entities. Mr. McKenzie will add strength to the accounting, risk management, and governance team. Robin M. Sundstrom, M.A., Investor Relations and Communications As President of IRonside Investor Relations Inc., Ms Sundstrom has tackled every aspect of investor relations, from proxy battles and financial reporting to market surveys and shareholder relations. Her clients have included Harmony Asset, the first dual-listed TSX/Hong Kong company, Dynatec, Iberian Minerals, Cadillac Resources, and Sanwa Bank. As well as various charitable boards, she sits on the board of a publicly listed company. Her contract is for $5,000 per month plus 150,000 options to purchase common shares of the Company. Ms Sundstrom will be providing communications expertise as well as assisting with governance and disclosure protocols, and she will ensure that Company information is available in both English and Mandarin. The Board would like to thank Lena Masters, who will continue to provide consulting services to assist with the management transition through June 15, 2010, for her service as CFO of the Company since its inception. The appointments of the new members of management and the new investor relations provider remain subject to approval of the TSX-V. About Sino Vanadium The Company owns 100% of the Daquan property in Shaanxi province, China. The property contains a world-class vanadium deposit in an indicated resource of 330mm lbs. (15.9mm t) at an average grade of 0.95% and an inferred resource of 370mm lbs. (18.7mm t) at an average grade of 0.92% of vanadium pentoxide (V2O5) with an NPV of $878,318,000, as per its NI 43-101-compliant report, available on SEDAR (www.sedar.com). Mineral resources that are not mineral reserves have no demonstrated economic viability. China is the world's largest consumer of vanadium, which it uses for high-strength steel and titanium alloys and high-energy, high-power, extra-long-life batteries. Currently, the Company is reviewing potential vanadium property acquisitions. The Company's objective is to create shareholder value through the consolidation of vanadium development and production. For further information, please visit www.sinovanadium.com. Forward-Looking Statements This document may contain "forward-looking statements" within the meaning of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this document and the Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management of the Company's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral resources, the realization of estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, and potential acquisitions.
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