BROSSARD, QC, Oct. 11,
2024 /CNW/ - G Mining Ventures Corp.
("GMIN" or the "Corporation") (TSX: GMIN) (OTCQX:
GMINF) announced today that it has appointed Naguib Sawiris, founder of the La Mancha group
("La Mancha"), to its Board of Directors, effective
October 11, 2024.
"We welcome Naguib to the G Mining Ventures board," said
Louis Gignac Sr., GMIN's Chairman
of the Board, "Naguib's extensive experience supporting growing
companies, in telecom, real estate and more notably in the mining
sector, spans many decades. His role as strategic investor has
helped create billions of dollars in shareholder value, and his
on-going support of GMIN's vision and strategy has been
instrumental in transforming GMIN from explorer-developer to an
Americas-focused gold producer. He has an impressive track record
of identifying investment opportunities, prioritizing proactive
sustainability initiatives, and advising growing businesses. We
look forward to continuing our relationship with Naguib in this new
role as a fellow Board director."
In connection with the appointment of Mr. Sawiris, Mr.
Karim Nasr has ceased his role as
the La Mancha representative on the GMIN Board. The GMIN Board of
Directors will consist of 10 members.
Louis Gignac Sr. continued, "GMIN
has benefitted from Karim's guidance stemming from his strong
business acumen garnered in building strong and sustainable
businesses in the telecom and mining industries. We thank Karim for
his leadership and service over the past two years."
Mr. Sawiris is a manager of La Mancha Holding Sàrl, which he
took private in 2012 with the vision to bring operational
efficiency and ambition to a sector dominated by smaller junior
companies. In 2015, he took the strategic decision to vend in La
Mancha's key publicly listed stakes into two regionally focused
junior miners, Evolution Mining and Endeavour Mining, resulting in
La Mancha becoming the largest shareholder in each of these
companies. In the years that followed, Mr. Sawiris used his Board
positions and La Mancha's capital to support each of these
companies, supporting the establishment of two multi-billion dollar
mid-tier mining companies. Since 2021, La Mancha operates a
Luxembourg-based fund, La Mancha
Resource Fund SCSp, which focuses on the precious and energy
transition metals sectors.
In addition to his role at La Mancha, Mr. Sawiris holds several
board positions, including Executive Chairman of Orascom Investment
Holding S.A.E. and Chairman of Ora Developers.
He holds a diploma in Mechanical Engineering with a master's in
Technical Administration from the Federal Institute of Technology
Zurich (ETH). He is also the recipient of numerous
honorary degrees, industry awards and civic honours, including the
Honor of Commander of the "Légion d'Honneur" (the highest
award given by the French Republic for outstanding services
rendered to France). In 2011, Mr.
Sawiris was awarded the Honor of Commander of the Order of the
"Stella della Solidarieta Italiana" (Star of Italian
Solidarity).
About G Mining Ventures Corp.
G Mining Ventures Corp.
(TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the
acquisition, exploration and development of precious metal projects
to capitalize on the value uplift from successful mine development.
GMIN is well-positioned to grow into the next mid-tier precious
metals producer by leveraging strong access to capital and proven
development expertise. GMIN is currently anchored by the
Tocantinzinho Gold Mine in Brazil
and Oko West Project in Guyana,
both mining friendly and prospective jurisdictions.
Additional Information
For further information on
GMIN, please visit the website at www.gmin.gold
About La Mancha and La Mancha Resource Fund
SCSp
La Mancha Resource Fund SCSp (the "Fund") is a
Luxembourg-based deep value fund
focused on investments in the precious and energy transition metals
space. The Fund's general partner is La Mancha Capital Management
GP S.à r.l. which has delegated investment management over La
Mancha's investments to NS Partners S.A., which has further
delegated La Mancha's portfolio management to La Mancha Resource
Capital LLP. La Mancha Resource Capital LLP is authorised and
regulated by the United Kingdom Financial Conduct Authority (FRN
978592).
For further information please visit:
https://lamancharesourcecapital.com
Additional Information
For further information on La
Mancha please visit the website at
https://lamancharesourcecapital.com/
Cautionary Statement on Forward-Looking
Information
All statements, other than statements of
historical fact, contained in this press release constitute
"forward-looking information" and "forward-looking statements"
within the meaning of certain securities laws and are based on
expectations and projections as of the date of this press release.
Forward-looking statements contained in this press release include,
without limitation, those related to (i) the quoted expectations of
GMIN's Chairman of the Board, and (ii) more generally,
the sections entitled "About G Mining Ventures Corp." and "About
La Mancha Resource Fund SCSp".
Forward-looking statements are based on expectations,
estimates and projections as of the time of this press release.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by the
Corporation as of the time of such statements, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. These estimates and assumptions
may prove to be incorrect. Such assumptions include,
without limitation, those relating to the price of gold and
currency exchange rates, and those underlying the items listed on
the above sections entitled "About G Mining Ventures Corp."
and "About La Mancha Capital Advisory LLP".
Many of these uncertainties and contingencies can directly or
indirectly affect, and could cause, actual results to differ
materially from those expressed or implied in any forward-looking
statements. There can be no assurance that, notably but without
limitation, (i) appointing Mr. Sawiris to GMIN's Board of Directors
will create shareholder value and will bring GMIN to follow the
same path as Evolution Mining and Endeavour Mining, (ii) GMIN will
achieve its stated objectives for Tocantinzinho and Oko West, or (iii) GMIN will use TZ and
Oko West to grow GMIN into the next
intermediate producer, as future events could differ materially
from what is currently anticipated by the Corporation. In addition,
there can be no assurance that Brazil and/or Guyana will remain mining friendly and
prospective jurisdictions.
By their very nature, forward-looking statements involve
inherent risks and uncertainties, both general and specific, and
risks exist that estimates, forecasts, projections and other
forward-looking statements will not be achieved or that assumptions
do not reflect future experience. Forward-looking statements are
provided for the purpose of providing information about
management's expectations and plans relating to the future. Readers
are cautioned not to place undue reliance on these forward-looking
statements as a number of important risk factors and future events
could cause the actual outcomes to differ materially from the
beliefs, plans, objectives, expectations, anticipations, estimates,
assumptions and intentions expressed in such forward-looking
statements. All of the forward-looking statements made in this
press release are qualified by these cautionary statements and
those made in the Corporation's other filings with the securities
regulators of Canada including,
but not limited to, the cautionary statements made in the relevant
sections of the Corporation's (i) Annual Information Form dated
March 27, 2024, for the financial
year ended December 31, 2023, and
(ii) Management Discussion & Analysis. The Corporation cautions
that the foregoing list of factors that may affect future results
is not exhaustive, and new, unforeseeable risks may arise from time
to time. The Corporation disclaims any intention or obligation to
update or revise any forward-looking statements or to explain any
material difference between subsequent actual events and such
forward-looking statements, except to the extent required by
applicable law.
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SOURCE G Mining Ventures Corp