Ecometals Announces Visit of Mr. Alex Ellis, British Ambassador to Brazil, to Company's Manganese Operations at Serra do Navio, Brazil & Resignation of Dr. Vanessa Neumann from Board of Directors
October 24, 2013 at 16:39 PM EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 24, 2013) - Ecometals Limited (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ) (the "Company") is pleased to announce that on October 23, 2013, Mr. Alex Ellis, the British Ambassador to Brazil, visited the Company's manganese operations at Serra do Navio, Brazil. In a short ceremony the British Ambassador and the Mayor of Serra do Navio cut a ribbon to mark the formal opening of the project. The previous evening Mr. William Lamarque, the Company's CEO, had hosted a dinner for the British Ambassador, attended also by the Governor of the State of Amapa, the Mayor of Macapa, the State Chief Prosecutor and other local Government and private sector supporters of the project.
The Company is currently awaiting the renewal of its Environmental License from IMAP, the State Environmental Agency, before material can be moved onto railcars to Santana Port. 45,000 metric tonnes, equivalent to one month's production, has been piled by the railway and assayed, in anticipation of the issue of this license.
The Company also announces the resignation from the Board of Dr. Vanessa Neumann for personal reasons with effect from October 11, 2013.
Mr. Lamarque commented on the recent news: "We were very pleased and honoured that the Ambassador should make the long trip from Brasilia to be our guest on this symbolic day. We are working with the State Government and IMAP on the resolution of the final administrative hurdle represented by the Environmental License. We anticipate shipments beginning very shortly thereafter."
Mr. Russell Fryer, the Chairman of Ecometals commented on Dr Neumann's resignation: "Dr. Neumann provided unique knowledge and suggestions to the Board. Ecometals wishes her the very best in her future endeavours."
As announced by the Company on October 2, 2013, all trading in the securities of the Company, which includes trading in the Company's common shares through the facilities of the TSX Venture Exchange where such shares are listed, are currently ceased until the Company files, among other things, certain required filings and the Cease Trade Order ("CTO") is revoked.
Despite this CTO, a beneficial shareholder of the Company who is not, and was not at the date of the CTO (October 2, 2013), an insider or control person of the Company, may sell securities of the Company acquired before October 2, 2013 if:
1. The sale is made through a market outside Canada, and
2. The sale is made through an investment dealer registered in British Columbia.
Ecometals Limited is a Canadian-listed mineral exploration and development company focused on mineral resources in Latin America. Apart from its interests in manganese, Ecometals also has gold exploration activities in Ecuador.
This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") under applicable securities laws, concerning the Company's business, operations, condition and prospects, as well as management's objectives, strategies, beliefs and intentions, including with respect to the issuance of the Company's environmental license at Serra do Navio and the future shipments of material therefrom. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, the failure of IMAP to issue the Company's environmental license at Serra do Navio in a timely manner, changes in general economic conditions or conditions in the financial markets, and unanticipated operational or technical difficulties. Such forward-looking information is based on a number of assumptions, including but not limited to, there being no significant decline in existing general business and economic conditions; political stability in the South American countries where the Company conducts business including Brazil in particular. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking information and accordingly, readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this news release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
Neither 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.
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