Ecometals Appoints General Manager and Controller for Ecuadorian Operations
26 February 2008 - 9:21AM
Marketwired
TORONTO, ONTARIO (FRANKFURT: GDQ)(BERLIN: GDQ) is pleased to
announce the appointment of Diego Benalcazar as General Manager and
Rodrigo Izurieta as Controller, both for Ecuadorian Operations.
Mr. Benalcazar has been involved in mineral exploration, mining
property evaluation and acquisitions in many countries throughout
Latin America and the Caribbean. He has held consulting and
managerial positions with several international mining companies,
including Homestake International Minerals Ltd., Pancontinental
Mining Ltd. and the U.S. subsidiary of Belgium-based Union
Miniere.
Mr. Benalcazar was also General Manager for several subsidiaries
of the Holderbank Cement Group of Switzerland. He has additionally
served as Director of Ready-Mixed Concrete for Holcim Cementos
Caribe S.A. in Venezuela and Cemetos Boyaca S.A. in Colombia, which
included responsibility for Dominican Lesser Antilles.
As a former President and member of the Board of Directors of
the Ecuadorian Chamber of Mines, Mr. Benalcazar has actively
represented the mining industry in discussions with Ecuadorian
government authorities.
Mr. Benalcazar holds a B.A. in geology from North Carolina State
University and has completed the Program for Management Development
of Harvard Business School.
Mr. Izurieta comes to Ecometals from CTC, where he was a partner
and owner. CTC is a consulting firm specializing in finance and
economics, advising multilateral organizations, banks and
multinational corporations. Mr. Izurieta also served as Director of
Finance and Strategy at EFH Corp., a family-owned holding company
with investments in manufacturing, real estate and agriculture. He
also provided sovereign-bond coverage for Banco Santander in New
York and was a senior consultant in Arthur Andersen's Corporate
Finance consulting division.
Mr. Izurieta graduated summa cum laude from San Francisco
University in Quito with a double major in economics and finance.
He was a Fulbright Scholar and won a merit-based grant from New
York University, where he obtained a master's degree in
economics.
"Our strong pace of exploration and ambitious schedule of future
activities in Ecuador requires highly qualified managers," said
Fran Scola, Chief Executive Officer of Ecometals. "Diego and
Rodrigo bring to Ecometals solid operational experience and an
in-depth understanding of their respective disciplines, which will
be invaluable as we move forward."
Ecometals also announces the granting of 13.8 million options to
employees and directors, pursuant to its option plan that was
approved by shareholders on October 1, 2007. The options have a
strike price of $0.50 per share and vest over an 18-month period in
equal monthly instalments. They expire after five years. The
Company currently has approximately 220 million shares issued and
outstanding.
"Ecometals has completed an intensive reorganization over the
past year and the option award is intended to recognize the
extraordinary service of key employees and directors," said Mr.
Scola. "We are confident that we now have the right team in place
to grow shareholder value."
About Ecometals
Ecometals Limited is a Canadian-listed mineral exploration and
development company focused on mineral resources in Latin America.
Ecometals also holds 44.4% of Atomaer Holdings Pty Ltd., a private
Australian holding company.
Cautionary Statement Regarding Forward-Looking Statements
Statements contained in this release that do not express
historical facts are forward-looking statements. Such
forward-looking statements involve risk and uncertainties that
could cause actual results to differ materially from those
expressed in them. These include risks relating to changes in
economic or environmental conditions and the company's ability to
execute its business model and strategic plans. The company relies
on litigation protection for forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Ecometals Limited - Investors Mark Kesselman Chief
Financial Officer Email: info@ecometalslimited.com Website:
www.ecometalslimited.com Barnes McInerney Inc. - Media Colin
Languedoc Senior Consultant (416) 367-5000 (416) 367-5390 (FAX)
Email: clanguedoc@barnesmcinerney.com
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