Shefa Gems Ltd Appointment of CEO (7403O)

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RNS Number : 7403O

Shefa Gems Ltd

03 June 2020

B"H

3 June 2020

Shefa Gems Ltd.

("Shefa Gems" or the "Company")

Appointment of CEO

Shefa Gems (LSE: SEFA), a company focused on advanced exploration and development of multi-gemstone projects in Northern Israel, announces that following the sad passing of Avi Taub, the founder of Shefa Gems, the COO, Mrs Vered Toledo stepped up according to the request of the Board of Directors (the "Board") in January this year to become the CEO of the company. Since then Vered has successfully ensured the delivery of the important Certificate of Discovery for the Kishon Mid Reach zone 1 and 2 which now enables significant progress to be made towards the issue of a mining licence.

However after more than 21 years with the company since its inception Vered has decided the time has come to retire from the company and with effect from 1st June 2020 she is handing over her position as CEO to Ms Tali Shalem, the daughter of the late Avi Taub and her appointment as CEO was approved by the Board of Shefa on that day. As per the Company's request, Vered will continue to work with Tali in the handover process for the next 30 days until 1st July 2020. Vered has worked tirelessly for the company since its inception and has contributed significantly to the discoveries of the rare Natural Moissanite and the Carmel Sapphire(TM) and its successful evolution into a exploration company which should become Israel's first precious gems mining company hopefully within the next two years. We wish Vered good luck in her future.

Tali Shalem

From 2008 until 2018 Tali served as second to Avi Taub and was involved in all aspects of the business including legal and regulatory procedures, finance and fund raising. Prior to that she worked for many years at the family jewellery company with experience in all stages of jewellery production sales and finance. Since 2019 she has been the owner of a new marketing company with a website for the sale of gems and jewellery working with suppliers from Tel Aviv and manufacturers from Israel and Europe.

Tali Shalem, incoming CEO of Shefa Gems, said: "I would like to thank the Company for the vote of confidence. I am honoured to be given the opportunity, together with our professional and experienced team, to fulfil the founder's vision (my dear late father at whose side I worked closely for years on this great project), in the best possible way for the Company and all its shareholders."

- Ends -

Enquiries

 
 Shefa Gems Ltd 
 Michael Rosenberg, OBE - Chairman 
  www.shefagems.com                   [phone] 
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 VSA Capital Limited - Financial 
  Adviser 
                                     ----------------------- 
 Andrew Raca                          [phone] 
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 SI Capital Limited - Broker 
                                     ----------------------- 
                                      [phone] / +44 
 Nick Emerson and Jon Levinson         1483 413500 
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Notes to Editors

About Shefa Gems Ltd

Shefa Gems Ltd (LSE: SEFA) is an explorer and developer of precious stones deposits operating in Northern Israel. Exploration activity is managed by professionally skilled and technically competent personnel and is accompanied by an international team of geological experts with decades of proven experience in their fields. It has two flagship projects, Mount Carmel and the Kishon Reach.

With its international geological consultant team, Shefa Gems has established a "Source to Sink" geological model and the presence of a Target Mineral Assemblage of gemstones ("TMA Suite") in both primary volcanic sources and in secondary alluvial deposits lying within the Kishon catchment, on Mount Carmel and in the Zevulun and Yizre'el valleys and their margins. The TMA suite comprises Precious Stones (Diamond, rare natural moissanite, sapphire, ruby, Carmel Sapphire(TM), garnet, hibonite, spinel, ilmenite) and heavy minerals including zircon and rutile.

All exploration activities are conducted under international standards and the internationally recognised SAMREC 2016 Code. Its three permits, granted to it by the Commissioner of Mines at the Ministry of Energy, Natural Resources Administration, Israel, extend over an area of approximately 488,366 Dunams (48,836 hectares) that includes the Kishon River, the volcanic bodies on Mount Carmel, the Zevulun and Yizre'el valleys and their margins.

Alongside its exploration activities, the Company is building on the launch of the "Heaven on Earth" jewellery collection and developing the Company's "Mine to Market" strategy to promote unique jewellery collections utilising Shefa Gems' suite of precious gemstones.

The Company upholds environmental values and protects the nature in the areas where it operates, cooperating fully with all authorities.

The exclusive "Heaven on Earth" collection is now available to view online on the website of the designer Yossi Harari at: https://www.yossiharari.com/collections/heaven-on-earth-1

For further information please visit the website at www.shefagems.com

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June 03, 2020 02:00 ET (06:00 GMT)