VANCOUVER, BC, Feb. 28, 2022
/CNW/ - Pucara Gold Ltd. ("Pucara" or the "Company") (TSXV: TORO)
(BVL: TORO) (OTCPK: PCRAF) is pleased to announce the appointment
of Greg Davis as Chief Executive
Officer, President, and director of Pucara, effective today. Mr.
Davis will succeed J. Stevens Zuker, who has resigned as Chief
Executive Officer, President and as a director of Pucara effective
today, but will remain available for the transition process.
Mr. Davis is currently President and CEO of Sun Peak Metals
Corp. an exploration company with projects based in Ethiopia. Prior to Sun
Peak, Mr. Davis was VP, Business Development for Sunridge
Gold Corp. from 2006 until the sale of the Asmara project in April
2016, during which time he directed financing efforts and
raised over $50 million for the
company. The Asmara Project was advanced from exploration and
development through acquiring a mining license. Prior to Sunridge,
Mr. Davis was part of the discovery team at Nevsun's Bisha Project
as on-site Project Manager. Mr. Davis has an extensive technical
background in the mining sector, with over 25 years of
experience in all levels of corporate and project management in
various jurisdictions around the world.
Pucara will continue exploration work on its assets in
Peru and evaluate any business
opportunities that improve the return for its shareholders.
On behalf of the Board, David
Awram, a director of the Company, stated: "We are pleased to
have Mr. Davis take on the role of CEO and President, and also
welcome him as a member of the Board. We would also like to thank
Mr. Zuker for building a portfolio of seven highly-prospective
precious and base metal projects, over the last 10 years, that
include three optioned projects to Lowell Copper SAC/Solaris
Resources and Iamgold Peru SA, and for its transition into a TSXV
company in 2020."
Lynda Bloom, Director of Pucara
has also resigned as of today.
In connection with the appointment of Mr. Davis and his incoming
management team, Pucara announces the granting of an aggregate of
2,100,000 stock options (the "Options") to Mr. Davis and incoming
team. These Options have an exercise price of $0.11 per share and are exercisable during a
5-year period. All Options will vest in three equal tranches and
have been granted in accordance with the Company's stock option
plan.
About Pucara Gold
Pucara is a junior exploration company focused on the discovery
and advancement of economic precious metals deposits in
resource-rich Peru. Pucara has a
portfolio approach to project acquisition and controls seven
precious and base metal projects located in Peru. Pucara is advancing four projects while
the remaining three are under option agreements with strategic
partners. Pucara plans to grow through discoveries, strategic
relationships, and grassroots exploration. For more information,
please visit Pucara's YouTube channel.
Cautionary Statements
Neither the 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 release. This news release includes
forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements of
historical fact, are to be considered forward looking. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market
prices, exploitation and exploration successes, the impact of the
COVID-19 pandemic on the worldwide economy, continued availability
of capital and financing, and general economic, market or business
conditions and regulatory and administrative approvals, processes
and filing requirements. There can be no assurances that such
statements will prove accurate and, therefore, readers are advised
to rely on their own evaluation of such uncertainties. We do not
assume any obligation to update any forward-looking statements.
SOURCE Pucara Gold Ltd.