TSX-V: CXO
VANCOUVER, April 1, 2020 /CNW/ - COLORADO RESOURCES LTD. (TSX-V: CXO)
("Colorado" or the
"Company") is pleased to announce the appointment, effective
immediately, of Mr. Tim Thiessen as
Chief Finacial Officer ("CFO") and Corporate Secretary of the
Company.
Mr. Thiessen, a member of the Chartered Professional Accountants
of Canada, has over 23 years of
international accounting and finance experience, with the last 16
years in the mining industry. His experience has included holding
the position of CFO for a number of publicly-listed mineral
companies including Aurcana Corporation, SnipGold Corp. (acquired
by Seabridge Gold in 2016), Metallic Minerals Corp., Group Ten
Metals Inc., Granite Creek Copper Ltd. and Foran Mining
Corporation. Prior to this, Mr. Thiessen spent 7 years as
VP of Finance for Endeavour Financial Ltd., an advisory firm in the
mining industry that specialized in mergers and acquisitions and
debt and equity financings, being part of a team that spawned
industry-leading companies such as Wheaton Precious Metals Corp.,
UrAsia Energy Ltd., Peak Gold Ltd. and Coastal Energy Corp.
Colorado CEO, Joseph Mullin
comments "We are very excited to welcome Mr. Thiessen to the
team, his extensive experience in the industry will be highly
beneficial to Colorado. We look
forward to his guidance as we move forward to advancing our 2020
programs. We would also like to take this opportuntily to once
again thank Mr. Eric Casey for his
service to Colorado and wish him
all the best in his future endeavours."
The Company further announces it has granted 310,000 stock
option (the "Options") in accordance with the terms of the
Company's 10% rolling Stock Option Plan approved by shareholders on
December 17, 2019, to an
Officer and Consultant of the Company. Each Option is exercisable
into one common share of the Company at an exercise price of
$0.09 per share for a period of 5
years.
Colorado Resources Response to COVID-19
Colorado has introduced steps
to respond to the risks associated with COVID-19 virus, which
include the cancellation of all non-essential travel, transitioning
to teleconferencing, and reducing in-person meetings. Vancouver office staff are now working from
home until government advisories change. Colorado is monitoring the situation and
following national and local health authority requirements and
recommendations. Particular attention is being given to guidelines
and preventive measures being put in place by First Nations in
locations that we operate in.
Joseph Mullin, CEO of Colorado
Resources stated: "Colorado is taking appropriate measures to
protect the health, safety, and wellbeing of our people and all
those who interact with our Company. Colorado is following guidance and directives
as updated by federal, regional and provincial health authorities
in respect of general and exploration property specific
protocols. We are seeking guidance from First Nations
that we work with on new guidelines."
About Colorado
Colorado Resources Ltd. is exploring for high-grade gold and
copper in the Golden Triangle and the Toodoggone area of
British Columbia. The portfolio
includes the flagship Castle property, a porphyry copper-gold
project located in the Red Chris mining district of the Golden
Triangle neighbouring GT Gold's Tatogga property. Other properties
include the KSP, North ROK, Kingpin, Heart Peaks and Sofia properties in British Columbia. These assets are being
advanced by a newly assembled technical and management team with
experience in exploration, permitting and discovery.
ON BEHALF OF THE BOARD OF DIRECTORS OF COLORADO RESOURCES LTD.
"Joseph
Mullin"
Joseph Mullin
Chief Executive Officer and Director
Cautionary Note Regarding Forward-Looking
Statements
All statements, trend analysis and other information
contained in this press release about anticipated future events or
results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect" and "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other
similar expressions. All statements, other than statements of
historical fact, included herein, including, statements regarding
the use of proceeds of the Placements are forward-looking
statements. Although the Company believe that the expectations
reflected in such forward-looking statements and/or information are
reasonable, undue reliance should not be placed on forward-looking
statements since the Company can give no assurance that such
expectations will prove to be correct. These statements involve
known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those
anticipated in such forward-looking statements, including the
risks, uncertainties and other factors identified in the Companies'
periodic filings with Canadian securities regulators as well as the
risk that the ongoing COVID-19 pandemic may have on the Company's
business. Important factors that could cause actual results to
differ materially from Colorado
expectations include the risk that management of the Company
determines to use the proceeds of the Placements in a way that is
not currently contemplated. Forward-looking statements are
based on estimates and opinions of management at the date the
statements are made. Colorado does
not undertake any obligation to update forward-looking statements
except as required by applicable securities laws. Investors should
not place undue reliance on forward-looking 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.
SOURCE Colorado Resources Ltd.
