Vancouver, British Columbia - Centenera Mining Corporation ("Centenera" or the "Company") - (TSXV: CT, OTCQB: CTMIF
), reports that it has appointed Mr. John Drobe as a founding member of a new advisory board, which will help steer technical decisions during the planned drill program at the Huachi Copper-Gold Project. The Company also announces that it has granted 400,000 incentive stock options and retained Trapeze Capital Corp. ("Trapeze") to provide market-making services.
Appointment of John Drobe
Mr. Drobe is a professional geologist with more than 30 years of experience, specializing in porphyry copper-gold, epithermal and skarn deposits throughout Latin America. John has worked for a number of well-known companies in the resource sector including Corriente Resources Inc. ("Corriente") where he was Chief Geologist. At Corriente, John was responsible for all aspects of exploration and resource definition at Corriente's Mirador, Panantza, and San Carlos deposits; a suite of assets that led to the sale of Corriente for CAD$679 million cash in 2010. Most recently John served as COO for Indico Resources Limited, where he helped advance the Ocana copper oxide deposit towards production prior to the project receiving production finance from a new operating partner in 2015. John's experience with copper-gold porphyry systems will be invaluable as the company advances the Huachi project in San Juan Province, Argentina.
Stock Option Grant
The Company announces that it has granted stock options to certain officers, employees and consultants of the Company and its affiliates to purchase up to 400,000 common shares of the Company in accordance with the terms of the Company's stock option plan. The options are exercisable on or before 9 May 2018 at a price of $0.25 per share.
Trapeze Capital Corp. Engagement
The Company has retained Trapeze Capital Corp. to provide trading (market-making) services to the Company with respect the Company's common shares listed on the TSX Venture Exchange (the "TSX-V"). Under the terms of an issuer trading services agreement dated as of May 9, 2017 (the "Agreement"), Trapeze will receive compensation of $5,500 per month (plus applicable taxes) payable in cash, from the Company's working capital account. The capital required for the acquisition of any of the Company's common shares and any corresponding trading activity undertaken by Trapeze will be provided by Trapeze, acting as principal. The Agreement is subject to acceptance by the TSX-V and is for an initial term of 180 days and will automatically renew for additional 180 day periods unless terminated by the Company or Trapeze.
Trapeze and the Company are unrelated entities. Trapeze is a member of the Investment Industry Regulatory Organization of Canada, a participating organization of the Toronto Stock Exchange and a member of the TSX-V.
On Behalf of the Board of Directors of
CENTENERA MINING CORPORATION
President & CEO
For further details on the Company readers are referred to the Company's website (www.centeneramining.com
) and its Canadian regulatory filings on SEDAR at www.sedar.com
For further information, please contact:
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 press release, which has been prepared by management.
Except for the statements of historical fact contained herein, the information presented in this news release and the information incorporated by reference herein, constitutes "forward looking information" within the meaning of applicable Canadian securities laws concerning the business, operations and financial performance and condition of the Company. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the expected duration of the trading services agreement and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities, the ability of the Company to attract and retain key personnel, approval by the TSX-V of the Trapeze Agreement and any option and shares to be issued by the Company, costs of production, capital expenditures, the requirements of the Company for additional working capital and the ability of the Company to obtain same, future prices of precious metals and commodities, changes in the demand and market price for precious metals and commodities, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing, or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's most recent Management Information Circular and as discussed in the annual management's discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward looking information. The Company undertakes no obligation to update any of the forward looking information in this news release or incorporated by reference herein, except as otherwise required by law.