Ascendant Resources Strengthens Board With Appointment of New Director & Names Lead Independent Director
September 28 2017 - 7:15AM
Ascendant Resources Inc. (TSX:ASND) (OTCQX:ASDRF)
(FRA:2D9) ("Ascendant" or the "Company”) is pleased to announce the
appointment of Ms. Petra Decher, CPA, CA to the Company’s Board of
Directors and Mr. Stephen Shefsky to the position of Lead Director
of the Board effective October 1, 2017.
Ms. Decher served as the Vice President, Finance
and Assistant Secretary for Franco-Nevada Corporation from
2009 to 2016. She currently serves as Chairwoman of the Board at
Red Pine Exploration Inc. and recently served as the Lead
Independent Director of Integra Gold Corp. until its acquisition by
Eldorado Gold Corporation. Prior to Franco-Nevada, Ms. Decher was
President and Chief Financial Officer for Geoinformatics
Exploration Inc., an exploration company focused on projects in
British Columbia, Nevada, Mexico and Australia.
Ms. Decher is a Chartered Public Accountant, and
is assuming the role of Chairwoman of the Audit Committee effective
immediately. She has a Bachelor of Commerce degree from Concordia
University, Diploma in Accounting at McGill University and articled
at Richter Usher Vineberg (now Richter) in Montréal, Québec.
Mr. Shefsky has served on the Board of Directors
of Ascendant Resources Inc. (formerly Morumbi Resources Inc.) for
more than 10 years. Mr. Shefsky’s legal background has served well
through his career of more than 40 years’ experience in the
investment and mining industry throughout Canada, Latin
America, and Africa. Mr. Shefsky is currently the President &
CEO, Founder and Director of James Bay Resources Ltd. and his prior
experience includes President & CEO of Verena Minerals Corp,
now known as Belo Sun Mining Corp., Cancap Investments Ltd., and
Brasoil do Brasil Exploracao Petrolifera S.A.
The Lead Director is a director independent of
management and any controlling shareholder of the Company,
appointed in circumstances where the Executive Chairman of the
Board is not independent of management and any controlling
shareholder. The primary responsibility of the Lead Director is to
provide leadership for the independent directors and assist in
managing any conflicts between the Company and any controlling
shareholders.
Chris Buncic, President and CEO of Ascendant
commented: “We are delighted to welcome Ms. Decher to the Board.
Her thorough understanding of financial and public reporting
and corporate governance will be a great asset to Ascendant moving
forward as we continue to define a clear path to free cash flow. We
are also grateful to have Mr. Shefsky step into the role of Lead
Independent Director of Ascendant. His history with the Company,
wealth of board and industry experience and legal background make
him well suited to take on this role. We believe that these
appointments further demonstrate the Company's ongoing commitment
to maintaining the highest standards of financial accountability
and corporate governance."
Mark Brennan, Executive Chairman of Ascendant
commented: “On behalf of the entire Board, I am very pleased to
welcome Ms. Decher to Ascendant’s Board of Directors and to have
Mr. Shefsky assume the role of Lead Director. Ms. Decher’s diverse
experience and financial expertise will complement our Board’s
capabilities. These changes further poise the Company to continue
to deliver operational excellence and long-term profitability.”
About Ascendant Resources
Ascendant Resources Inc. is a mining company
focused on its producing zinc-lead-silver El Mochito Mine which has
been in operation since 1948. Since acquiring the mine in December
of 2016, Ascendant has increased throughput by more than 30%, has
had success with its restarted exploration activities and has now
achieved positive EBITDA as of July. With the price of zinc hitting
a 10-year high, Ascendant is one of the few small cap pure play
zinc producers benefitting from these improving zinc market
fundamentals. For more information on Ascendant Resources, please
visit our website at www.ascendantresources.com
Neither the Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX) accepts responsibility for the adequacy or
accuracy of this release. For further information please
contact:
Chris BuncicPresident & CEOTel:
888-723-7413info@ascendantresources.com
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