TORONTO, Oct. 22, 2018 /CNW/ - First Cobalt Corp.
(TSX-V: FCC; ASX: FCC; OTCQX: FTSSF) (the "Company") is pleased to
announce that Mr. Ryan Snyder has
joined the executive team as Chief Financial Officer.
Trent Mell, President & Chief
Executive Officer, commented:
"As a we sharpen our focus on our flagship Iron Creek
Project, we are consolidating the organization by closing the
Vancouver office and moving the
finance and accounting function to the Toronto head office. I look forward to working
with Ryan, who brings extensive financial and strategic experience
including financial reporting, business planning, project modeling
and M&A."
Mr. Snyder spent five years in operations finance with Inmet
Mining Corporation, where he led a project to build the
life-of-mine model for Cobre Panama, one of the largest copper
development projects in the world. He also led the worldwide annual
budgeting and quarterly forecasting processes, oversaw operational
financial reporting and analysis, and conducted scenario analysis
for strategic decision-making. He then joined Enirgi Group
Corporation where he oversaw financial planning, asset modeling and
corporate governance. Most recently he was with Primero Mining
Corp., initially as Director of Finance and Treasurer and later as
Chief Financial Officer, where he was part of the team that
negotiated the friendly merger of Primero with First Majestic
Silver in 2018. Prior to entering the mining industry, Mr. Snyder
obtained his Chartered Professional Accountant designation with
KPMG LLP.
The Company would like to thank Mr. Kevin Ma for the very significant contributions
that he has made to First Cobalt since the formation of the
company. Mr. Ma has stepped down as Chief Financial Officer and Mr.
Snyder will assume the role effective immediately. Mr. Ma will
remain with First Cobalt in an advisory capacity during a
transition period.
About First Cobalt
First Cobalt a North American pure-play cobalt company whose
flagship asset is the Iron Creek Cobalt Project in Idaho, USA, which has Inferred mineral
resources of 26.9 million tonnes grading 0.11% cobalt equivalent.
The Company's other assets include 50 past-producing mines in the
Canadian Cobalt Camp and the only permitted cobalt refinery in
North America capable of producing
battery materials.
On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking
Statements
This news release may contain forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws and
the United States Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified by the use of terminology such as "plans",
"expects', "estimates", "intends", "anticipates", "believes" or
variations of such words, or statements that certain actions,
events or results "may", "could", "would", "might", "occur" or "be
achieved". Forward-looking statements involve risks, uncertainties
and other factors that could cause actual results, performance and
opportunities to differ materially from those implied by such
forward-looking statements. Factors that could cause actual results
to differ materially from these forward-looking statements are set
forth in the management discussion and analysis and other
disclosures of risk factors for First Cobalt, filed on SEDAR at
www.sedar.com. Although First Cobalt believes that the information
and assumptions used in preparing the forward-looking statements
are reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed times frames or at all. Except where required by
applicable law, First Cobalt disclaims any intention or obligation
to update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.
Cautionary Note to Investors - Resource
Estimates
In accordance with applicable Canadian securities regulatory
requirements, all mineral resource estimates of the Company
disclosed or incorporated by reference in this news release have
been prepared in accordance with Canadian National Instrument
43-101 - Standards of Disclosure for Mineral Projects ("NI
43-101"), classified in accordance with Canadian Institute of
Mining Metallurgy and Petroleum's "CIM Standards on Mineral
Resources and Reserves Definitions and Guidelines" (the "CIM
Guidelines").
The Company uses the terms "mineral resources", and "inferred
mineral resources". While those terms are recognized by Canadian
securities regulatory authorities, they are not recognized by the
United States Securities and Exchange Commission (the "SEC") and
the SEC does not permit U.S. companies to disclose resources in
their filings with the SEC. Pursuant to the CIM Guidelines, mineral
resources have a higher degree of uncertainty than mineral reserves
as to their existence as well as their economic and legal
feasibility. Inferred mineral resources, when compared with
measured or indicated mineral resources, have the least certainty
as to their existence, however, it is reasonable to expect that the
majority of inferred mineral resources could be upgraded to
indicated mineral resources with continued exploration. Pursuant to
NI 43-101, inferred mineral resources may not form the basis of any
economic analysis, including any feasibility study. Accordingly,
readers are cautioned not to assume that all or any part of a
mineral resource exists, will ever be converted into a mineral
reserve, or is or will ever be economically or legally mineable or
recovered.
SOURCE First Cobalt Corp.