Dynacor Appoints PX Group CEO, Philippe Chave to Board of Directors
August 20 2020 - 9:00AM
Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the
"Corporation"), an international leading ore purchasing
and processing corporation servicing artisanal and small-scale
miners (ASM), is pleased to announce the appointment of Philippe
Chave, CEO of PX Group SA to its Board of Directors effective
immediately.
“We are thrilled to see Philippe join Dynacor’s
Board of Directors,” states Jean Martineau, President and CEO of
Dynacor. “Philippe’s proven business and development skills in a
global landscape, his association with institutional investors
worldwide and expertise in the precious metals industry will be a
significant value-add to international growth for Dynacor and its
shareholders.”
Born in 1971, Mr. Chave is the CEO of
Swiss-based PX Group, a global metal processing conglomerate with
ten independent companies focusing on processing and transforming
precious and non-precious metals as an industrial specialist. The
firm refines and transforms approximately 50 tons (1,600,000
ounces) of gold per year from various countries. In 2015, the PX
Group launched in partnership with Dynacor the sustainable and
ethical clean gold program, PX IMPACT®.
The PX Group currently owns 2.19% (850,175
shares) of Dynacor.
Mr. Chave comes to Dynacor with twenty years of
international experience in a successful career to driving
growth, operational improvement and innovation. This experience
includes international business developments for precious metals
scrap and investment products for the European and Asian markets.
He is responsible for creating value in sourcing through stringent
traceability and audit programs to ensure compliance with
customers’ expectations in the luxury segment.
"I see a formidable opportunity to position
Dynacor as a multinational corporation in the sector of ethical
artisanal and small-scale miners (ASM) gold, which includes
approximately 40 million ASMs working in 80 different countries,"
said Philippe Chave. "I am excited to bring my experience in
business development together with PX Group's position in the
luxury industry, connections to institutional and high-net-worth
families, as well as our expertise in the precious metals
traceability and audit systems to Dynacor on a global
scale."
Mr. Chave holds a BSc in engineering from EINEV
(Ecole d’Ingenieurs de l’Etat de Vaud), Yverdon, Switzerland. He
speaks four languages, namely French, English, Spanish and
Mandarin.
The Corporation also announces Mr. Marc Duchesne
has resigned from the Corporation’s board of directors. The board
of directors thanks Mr. Duchesne for all his contributions to the
board’s work over the past several years and wish him well in all
his future endeavours.
ABOUT DYNACOR
Dynacor is a dividend-paying gold production
corporation headquartered in Montreal, Canada. The corporation is
engaged in production through the processing of ore purchased from
the ASM (artisanal and small-scale mining) industry. At present,
Dynacor produces and explores in Peru, where its management team
has decades of experience and expertise. In 2019, Dynacor produced
80,677 ounces of gold.
Dynacor produces environmental and socially
responsible gold through its PX IMPACT® gold program. A growing
number of supportive firms from the fine luxury jewelry,
watchmakers and investment sectors are paying a small premium to
our customer and strategic partner for this PX IMPACT® gold. The
premium provides direct investment to develop health and education
projects to our small-scale artisanal miner’s communities.
Dynacor is listed on the Toronto Stock Exchange
(DNG).
FORWARD-LOOKING INFORMATION
Certain statements in the preceding may
constitute forward-looking statements, which involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of Dynacor, or industry
results, to be materially different from any future result,
performance or achievement expressed or implied by such
forward-looking statements. These statements reflect management’s
current expectations regarding future events and operating
performance as of the date of this news release.
Dynacor (TSX: DNG)
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
PDF
available: http://ml.globenewswire.com/Resource/Download/dc2b17e4-9d35-49e1-b576-732ce1a84c06
CONTACT: For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Gold Mines Inc.
T: 514-393-9000 #230
E: investors@dynacor.com
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