True North Gems Appoints Raymond Simpson and James R.W. Pounds of Dominion Diamond Corporation to Advisory Board
December 11 2013 - 11:27AM
Marketwired Canada
True North Gems Inc. (TSX VENTURE:TGX) ("True North" or the "Company") is
pleased to announce that Raymond Simpson, and James R.W. Pounds, executives of
Dominion Diamond Corporation, have been appointed to the Company's Advisory
Board.
"We are delighted that Mr. Simpson and Mr. Pounds have agreed to join the
Company's Advisory Board," stated Nicholas Houghton, President and CEO of True
North Gems. "These distinguished individuals bring years of mine producer
marketing and business experience to compliment our current team. They will not
only be a valuable resource for True North as we transition towards final
permits and production at the Aappaluttoq Ruby Deposit in Greenland, but for the
future path of the Company."
Mr. Simpson is currently an Executive Vice-President of Dominion Diamond Corp.
("DDC"), formerly known as Aber Resources then subsequently Harry Winston
Diamond Corporation. Mr. Simpson has over 20 years of experience in the diamond
industry. In 2003, Mr. Simpson joined DDC while they were still a junior diamond
mining company listed on the Toronto Stock Exchange, to oversee their strategic
expansion into retailing. Mr. Simpson ultimately assumed the role of Chief
Operating Officer with the acquisition of iconic jeweler Harry Winston. Mr.
Simpson started his career with De Beers where, over a 14-year period, he held a
variety of roles ranging from mine resource evaluation to supply/demand
forecasting and consumer marketing. As Head of Business Development for the De
Beers in London, Mr. Simpson was instrumental in establishing a retail joint
venture between De Beers and LVMH Moet Hennessey in 2000. Mr. Simpson joined
LVMH as Director of Operations for the new venture overseeing the development of
the company's production, logistics and information systems. Mr. Simpson has a
Sloan Fellowship Masters degree from London Business School and a B.Sc. in
Mathematics from Bristol University.
Mr. Pounds is currently President of Dominion Diamond Marketing Corporation. He
joined Aber Resources/Harry Winston Diamond Corporation in 2002 as the Managing
Director of the rough sales subsidiary in Belgium. In 2005, Mr. Pounds became
Vice-President, Sales based in Toronto. Prior to joining DDC, he was Project
Manager, De Beers Group and Managing Director, Diamdel Israel, De Beers' Israeli
direct trading arm.
This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
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.
This document contains "forward-looking information" and "forward-looking
statements" (together, "forward-looking statements") within the meaning of
applicable securities legislation, which are made as of the date of this
document or the document(s) referred to herein. Statements that express
predictions, expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words or phrases
such as "expects", "anticipates", "plans", "projects", "estimates", "intends",
"strategy", "goals", "objectives" or variations thereof or stating that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be forward-looking
statements. Forward-looking statements include, without limitation, statements
with respect to: the amount of mineral reserves and mineral resources; the
amount of future production over any period; net present value and internal
rates of return of the proposed mining operation; capital costs; operating
costs; strip ratios and mining rates; and mine life. The forward-looking
statements are made based upon certain assumptions which, if untrue, could cause
the actual results, performances or achievements of the Company to be materially
different from future results, performances or achievements expressed or implied
by the forward-looking statements. These assumptions include, without
limitation: the price of gemstone products produced; anticipated costs; the
presence of and continuity of gemstones at modeled grades and values; the
capacities of various machinery and equipment; the availability of personnel,
machinery and equipment at estimated prices; exchange rates; appropriate
discount rates; tax rates applicable to the proposed mining operation; financing
structure and costs; anticipated mining losses and dilution; gemstone recovery
rates; reasonable contingency requirements; and receipt of regulatory approvals
on acceptable terms. By their very nature, forward-looking statements involve
inherent risks and uncertainties that could cause actual results, performances
or achievements to differ materially from those in the forward-looking
statements. These include, without limitation: price volatility, discrepancies
between actual and estimated production, mineral reserves and resources and
metallurgical recoveries, mining operational and development risks, regulatory
restrictions (including environmental regulatory restrictions and liability),
activities by governmental authorities (including changes in taxation), currency
fluctuations, the speculative nature of gemstone exploration, the global
economic climate, dilution, share price volatility, competition, loss of key
employees; additional funding requirements and defective title to mineral claims
or property).
This list is not exhaustive. See also, for example, the risks disclosed in the
Company's other disclosure documents filed at www.sedar.com, including, without
limitation, those disclosed in the Company's management's discussion & analysis.
The Company expressly disclaims any intention or obligation to update or revise
any forward-looking statements, except as otherwise required by applicable
securities legislation.
FOR FURTHER INFORMATION PLEASE CONTACT:
True North Gems Inc.
Nicholas Houghton
President and CEO
604-687-8055
True North Gems Inc.
Joanna Hall
Corporate Coordinator
604-687-8055
info@truenorthgems.com
www.truenorthgems.com
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