Ceylon Graphite Announces New Appointments
December 18 2020 - 8:00AM
Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”)
(TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to
announce the appointment of Mr. Janaka Rathnayake and Dr. H.M
Ranjith Premasiri to new roles within the Company. Mr. Rathnayake
will be General Manager of Operations for Sarcon Development (Pvt)
Ltd. and will be responsible for all of the Company’s exploration
and mining related business in Sri Lanka. Dr. Premasiri will be
Senior Consultant Geologist and will guide and lead Sarcon’s team
of geologists as the Company expands it business footprint in Sri
Lanka.
Bharat Parashar, Chief Executive Officer said:
“Both gentlemen are well-known and respected practitioners in the
Graphite space in Sri Lanka and will play a major role as the
Company ramps up its business activities. Janaka will focus on
production and Ranjith on the next sites that we should
develop.”
Mr. Rathnayake is a highly experienced mining
engineer and mine manager and is considered to be an expert on
graphite mining. He started his career in 1996 at AMG’s Graphit
Kropfmühl GmbH working as an engineer in its Bogala Graphite Mine.
Mr. Rathnayake spent over 10 years with the GSMB (Geological Survey
and Mines Bureau in the position of Mining Engineer and Chief
Mining Engineer). He has worked in Australia in senior mining
positions and was the Mines Manager at Kahatagaha Graphite Lanka
Limited, the largest graphite mine in Sri Lanka, prior to joining
the Ceylon Graphite team. He currently runs the Company’s M1
site.
Dr. Premasiri is one of the leading Geologists
in Sri Lanka and has had a distinguished career to date. He has a
PhD In Geo Physics from the United Kingdom and is a Chartered
Geologist. He is a Professor in the Department of Earth Resources
at Moratuwa University in Sri Lanka (Department Head 2016-2019). He
has also worked at the Geological Society and Mines Bureau of Sri
Lanka. Well recognized in his field he is currently the President
of the Geological Society of Sri Lanka and was General Secretary of
the Institute of Geology, Sri Lanka 2009 – 2016. He has published
numerous papers and has done substantial research in the field of
geology.
The Company also announces that the proposed
private placement that was announced in its press release of
January 28, 2020 did not proceed.
About Ceylon Graphite Corp.Ceylon Graphite is a
public company listed on the TSX Venture Exchange, that is in the
business of mining for graphite, plus the exploration for and
development of graphite mines in Sri Lanka. Graphite mined in Sri
Lanka is known to be some of the purest in the world and has been
confirmed to be suitable to be easily upgradable for a range of
applications including the high-growth electric vehicle and battery
storage markets. The Government of Sri Lanka has granted the
Company’s wholly own subsidiary Sarcon Development (Pvt) Ltd. an
IML Category A license for its K1 site and exploration rights in a
land package of over 120km². These exploration grids (each one
square kilometer in area) cover areas of historic graphite
production from the early twentieth century and represent a
majority of the known graphite occurrences in Sri Lanka. Further
information regarding the Company is available at
www.ceylongraphite.com
Bharat Parashar,
Chairman and & Chief Executive
Officerinfo@ceylongraphite.comCorporate
Communications+1(202)352-6022
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this releaseFORWARD LOOKING STATEMENTS:This news
release contains forward-looking information as such term is
defined in applicable securities laws, which relate to future
events or future performance and reflect management's current
expectations and assumptions. The forward-looking information
includes statements about Ceylon Graphite’s grids, Ceylon
Graphite’s plans to undertake additional drilling and to develop a
mine plan, and to commence establishing mining operations. Such
forward-looking statements reflect management's current beliefs and
are based on assumptions made by and information currently
available to Ceylon Graphite, including the assumption that, there
will be no material adverse change in metal prices, all necessary
consents, licenses, permits and approvals will be obtained,
including various Local Government Licenses and the market.
Investors are cautioned that these forward-looking statements are
neither promises nor guarantees and are subject to risks and
uncertainties that may cause future results to differ materially
from those expected. Risk factors that could cause actual results
to differ materially from the results expressed or implied by the
forward-looking information include, among other things, an
inability to reach a final acquisition agreement, inaccurate
results from the drilling exercises, a failure to obtain or delays
in obtaining the required regulatory licenses, permits, approvals
and consents, an inability to access financing as needed, a general
economic downturn, a volatile stock price, labour strikes,
political unrest, changes in the mining regulatory regime governing
Ceylon Graphite, a failure to comply with environmental regulations
and a weakening of market and industry reliance on high quality
graphite. Ceylon Graphite cautions the reader that the above list
of risk factors is not exhaustive.These forward-looking statements
are made as of the date hereof and, except as required under
applicable securities legislation, Ceylon Graphite does not assume
any obligation to update or revise them to reflect new events or
circumstances. All of the forward-looking statements made in this
press release are qualified by these cautionary statements and by
those made in our filings with SEDAR in Canada (available at
www.sedar.com)
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