Tosca Appoints New Chairman & CEO
March 03 2011 - 9:00AM
Business Wire
Tosca Mining Corporation (TSQ.V) (TQ4.FSE) reports that Dr.
Sadek E. El-Alfy PhD, (Mining), BSC (Eng.) has been appointed
Chairman and CEO of the Company. Dr. El-Alfy replaces Ron Shenton
as CEO and Mr. Shenton will continue to act as President of the
Company.
Dr. Sadek El-Alfy is a professional Mining Engineer with 35
years experience in Underground as well as Open Pit mining
operations on several continents. More recently he was COO at
Creston Moly Corp. where he was instrumental in preparing the
Pre-Feasibility and Environmental Impact Studies for a large scale
Moly deposit in Northern Mexico. Prior to that he was Vice
President of Mining Operations for Crystallex International
Corporation over a period of 12 years during which, he was also
responsible for the completion of Feasibility Studies and
Environmental Impact Studies for major mining projects in two South
American countries. Prior to his involvement in South American
operations, Dr. El-Alfy was in charge of Mining and Concentrating
operations at several locations in Canada including General Manager
of the Mining and Concentrating facilities in Labrador for The Iron
Ore Company of Canada, and General Manager of the Pamour Group of
mines in Timmins, Ontario. Dr. El-Alfy is fluent in English, French
and Spanish.
“I look forward to working with our technical and operations
team and to bring to bear our Copper, Moly and Gold projects
experience to Tosca’s most recent acquisitions.” states Dr. El-
Alfy.
The Company has arranged a non-brokered private placement of up
to 10 million units at a price of 35 cents per unit to raise gross
proceeds of up to $3,500,000. Each unit consists of one common
share and one non-transferable share purchase warrant, with each
warrant to entitle the holder to purchase one common share for a
period of one year at a price of 45 cents per share.
Tosca Mining Corporation intends to utilize the proceeds of this
private placement toward the development of the company's mineral
properties.
The private placement is subject to the acceptance of the TSX
Venture Exchange.
On Behalf of the board of directors,“Ron
Shenton”Ron Shenton, President
For further information, please visit the company’s website at
www.toscamining.com or call 604-687-6562. Email
info@toscamining.com
The TSX Venture Exchange (TSX Venture)) has not reviewed and
does not accept responsibility for the adequacy or accuracy of the
contents of this news release, which has been prepared by
management.
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