TORONTO, ONTARIO--(Marketwired - Nov. 7, 2016) - Morumbi Resources Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company") is pleased to announce the appointments of Mr. Clifford Hale-Sanders to the position of Executive Vice President effective November 1, 2016 and Mr. Rohan Hazelton to the position of Chief Financial Officer and Corporate Secretary, effective November 15, 2016.
Mr. Hale-Sanders career has spanned approximately 20 years in the capital markets industry working as a leading Base Metals and Bulk Commodities equity research analyst in Canada. During his career, he worked at RBC Capital Markets, TD Securities, CIBC World Markets and Cormark Securities. During this period, Mr. Hale-Sanders visited and reviewed numerous mining operations and corporate entities around the world from both an operational and financial perspective. Mr. Hale-Sanders holds a B.Sc. in Geology and Chemistry from the University of Toronto, an MBA from McMaster University and is a CFA Charter holder. Mr. Hale-Sanders initially joined the Company in February 2016 as Business Development Advisor to support the search for substantial acquisition opportunities within the mining industry and now transitions into a full-time role.
Commenting on the appointment, Chris Buncic, President and CEO, states, "Having been an integral part of the team that identified, evaluated and executed the acquisition of El Mochito, we are pleased that Cliff has joined us in a full-time capacity. In addition to supporting day to day management and optimization of El Mochito, Cliff will play a pivotal role in identifying additional growth opportunities as Morumbi looks to grow into a mid tier mining company in the future."
Mr. Hazelton has over 20 years of international finance experience, including 15 years in the mining sector. Mr. Hazelton was formerly the Vice President, Strategy for Goldcorp Inc. Mr. Hazelton has held a variety of senior management positions at Goldcorp including Vice President of Finance, Chief Financial Officer of Goldcorp Mexico, and Corporate Controller. Mr. Hazelton was one of the earliest employees at Wheaton River Minerals Ltd. and was a key part of the management team that led the growth of Wheaton River and later Goldcorp. Mr. Hazelton holds a B.A in Applied Mathematics and Economics from Harvard University, and is a Chartered Professional Accountant.
Commenting on the appointment, Chris Buncic CEO, states, "Rohan has broad experience in mining finance and operations and his fluency in Spanish will be an asset to our team. His experience in growing Wheaton River Minerals and later Goldcorp from a $20M market cap company to a peak of approximately $40B will add value as Morumbi looks to grow into a mid tier mining company in the future. We are pleased that both Cliff add Rohan have joined the Morumbi team on a full-time basis as we enter the next phase of our corporate development."
The Company also announces that Mr. Eric Szustak will step down as CFO effective November 15, 2016 but will remain as an advisor to the Company to assist during the transition. The Company's Board of Directors and management team would like to take this opportunity to sincerely thank Mr. Szustak for his hard work and dedication as its Chief Financial Officer & Corporate Secretary.
About Morumbi Resources
Morumbi is a public company historically focused on evaluating resource opportunities. The Company recently announced a transaction to acquire the El Mochito mine in Honduras from Nyrstar BV, and is working to close this acquisition targeting the end of the year. The Company has been evaluating producing and advanced development stage mineral resource opportunities principally in Latin America. It also has a legacy light oil property in northwest Alberta. The Company trades on the TSX Venture Exchange under the symbol "MOC".
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.
Cautionary Note Regarding Forward-Looking Information
This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.
Forward-looking information is based on reasonable assumptions that have been made by Morumbi as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Morumbi to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; that all conditions precedent to the Offering will be met; that any accretive acquisitions, as a result of current discussions pertaining to mineral resource assets in Latin America or otherwise, will be completed; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Morumbi; stock market volatility; competition; risk factors disclosed in Morumbi's most recent Management's Discussion and Analysis available electronically on SEDAR; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Morumbi's ability to control or predict.
Although Morumbi has attempted to identify important factors that could cause actual outcomes to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual outcomes and future events could differ materially from those reliant on forward-looking information.
All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Morumbi disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.