Arc Minerals Limited Board Appointment (6496A)

TIDMARCM

RNS Number : 6496A

Arc Minerals Limited

31 May 2019

Arc Minerals Ltd / Epic: ARCM / Market: AIM / Sector: Mining & Exploration

31 May 2019

Arc Minerals Ltd

('Arc Minerals' or the 'Company')

Board Appointment

Arc Minerals is pleased to announce the appointment of Rémy Welschinger as a Non-Executive Director to the Board of Arc Minerals as of today's date.

Mr Rémy Jaime Jacques-Henri Welschinger is the founder and managing director of Limehouse Capital Limited, an investment holding company specialising in natural resources projects. Up until 2018, Mr Welschinger was Head of Commodities Sales in Europe for Deutsche Bank. Prior to that, Rémy was an Executive Director in the Fixed Income and Commodities division of Morgan Stanley in London. Mr Welschinger is a graduate of Cass Business School, London, with an MSc in Investment management.

Nick von Schirnding, Executive Chairman of Arc Minerals commented:

"I take great pleasure in welcoming Rémy to the Board of Arc. Remy brings significant experience to the Company and has been instrumental with our last two financings in respect of introducing family offices and institutions. As an experienced finance executive in the resource sector we look forward to working with Rémy as we execute our strategy to develop our highly prospective projects."

The Company provides the following additional disclosure relating to the appointment of Mr Rémy Welschinger as director of Arc Minerals:

Mr Rémy Jaime Jacques-Henri Welschinger, aged 36 currently holds or has held the following directorships and partnerships over the last five years:

 
 Current directorships and partnerships   Past directorships 
 Limehouse Capital Limited 
  Limehouse Asset Management Limited      N/A 
                                         ------------------- 
 

Mr Rémy Welschinger holds 11,514,844 ordinary shares of no par value of the Company ("Ordinary Shares"), equivalent to 1.8% of the issued ordinary share capital of Arc Minerals at the date of this announcement, warrants over 2,444,446 Ordinary Shares exercisable at 6.5p each and warrants over 5,000,000 Ordinary Shares exercisable at a price of 4.5p each.

Except as disclosed in this announcement, neither the Company nor Mr Rémy Welschinger are aware of any further disclosures that are required in respect of the appointment of Mr Rémy Welschinger under Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.

Contacts

 
 Arc Minerals Ltd 
  Nick von Schirnding (Chairman)    [phone] 
 SP Angel (Nominated Adviser 
  & Broker) 
  Ewan Leggat / Soltan Tagiev       [phone] 
 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Forward-looking Statements

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Notes to the Editors

Arc Minerals is an AIM listed exploration and mine development company focused on a diversified portfolio of mining projects with interests in Slovakia, Eritrea, the Democratic Republic of the Congo and Zambia.

ARC Minerals current holdings include:

-- 100% interest in CASA Mining Limited, a private company that has a 71.25% interest in the 3-million-ounce inferred Resource Akyanga gold deposit in the DRC.

-- A 66% equity interest in Zamsort Limited ("Zamsort"), a private company focused on a prospective copper and cobalt licence in the Zambia Copperbelt, together with a convertible loan to Zamsort which converts into approximately a five percent additional equity interest in Zamsort.

-- 100% ownership of the Kremnica Mining Licence Area in Slovakia which host the 1.3Moz AuEq Au PFS stage turec Gold Project.

For more information visit www.arcminerals.com

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May 31, 2019 02:00 ET (06:00 GMT)