Liberty Silver Resumes Trading on the Canadian Securities Exchange and Announces Management Changes
TORONTO, ONTARIO--(Marketwired - May 19, 2017) - Liberty Silver Corp. (CSE:LSL)(CSE:LSL.CN)(CNSX:LSL) ("Liberty" or the "Company") announced today that it has commenced trading on the Canadian Securities Exchange this morning under the trading symbol 'LSL'.
"We are extremely gratified to have completed this process and to once again provide a Canadian trading platform for our many long term shareholders," said Howard Crosby, who has served as Chief Executive Officer of Liberty Silver since October 6, 2016. "I would like to personally thank my fellow directors, consultants and our legal team for the hard work and dedication necessary to make this happen," said Crosby.
Having recently announced the completion of a non-brokered private placement for over $3 million, the Company is well positioned to advance its existing asset, and to continue to evaluate the potential acquisition of the Bunker Hill Mine Complex, as announced on May 16, 2017.
The Company also announced today that it has re-established an office in Toronto, at 2702-401 Bay St. "With the establishment of our new Toronto office, and the relisting of our shares, my fellow director Bruce Reid will be assuming the role of our Chief Executive Officer, effective next Monday, May 23, 2017. I will remain with the Company as an Executive Vice President and Director" said Crosby.
Bruce Reid is currently the Executive Chairman of Satori Resources Inc. Most recently, until January 2016 he was the Executive Chairman of Carlisle Goldfields Ltd. ("Carlisle Goldfields"), a TSX-listed gold exploration company. He was Chief Executive Officer and President from January 2010 until January 2014. During his tenure at Carlisle Goldfields, Mr. Reid raised over $30 million and guided Carlisle Goldfields to measured and indicated mineral resources of 2.75 million ounces of gold and inferred mineral resources of 2.28 million ounces of gold at its Lynn Lake, Manitoba Project. Carlisle Goldfields was acquired in January 2016 by Alamos Gold Inc. which valued Carlisle Goldfields at approximately $75 million. From 2005-2008, Mr. Reid was one of the founders and served as the President and CEO of U.S. Silver Corp. where he raised over $75 million to modernize and renovate the Galena Sliver Mine in Idaho and return the asset back to profitability. Prior to that, Mr. Reid worked as both an investment banker and a mining analyst in the Canadian securities industry for a number of prominent firms such as Nesbitt Thomson, Loewen Ondaatje McCutcheon and Yorkton Securities. Mr. Reid brings to the Company over 35 years of extensive experience in mining development, exploration and corporate finance. His background also includes an Honours B.Sc. in Geology from the University of Toronto in 1979 and a Finance degree from the University of Windsor in 1982.
The Company also announced the appointment of Julio DiGirolamo to serve as the Company's Chief Financial Officer. Mr. DiGirolamo is a Chartered Professional Accountant with 22 years of senior-level public company experience including, most-recently, four and a half years as CFO for Carlisle Goldfields, which was successfully acquired by Alamos Gold Inc. in 2016. Mr. DiGirolamo was also recently appointed CFO for Satori Resources Inc. He began his public market experience while holding various senior roles during his five years with Greenstone Resources Ltd., a TSX and NASDAQ-listed gold mining company with activities focused in four Latin American countries. Mr. DiGirolamo has also been the CFO of Asia Now Resources Corp., a TSX Venture Exchange-listed junior exploration company, and Chief Financial Officer and Corporate Secretary of Innovium Media Properties Corp., a TSX Venture Exchange-listed early stage investor. During his time at Innovium he also acted as interim Chief Financial Officer at Seed Media Group LLC and as Chief Financial Officer, Corporate Secretary and member of the Board of Directors of Atlantis Systems Corp. Over his career, Mr. DiGirolamo has served on the boards of various public and non-profit organizations.
Grant of Options
The Company announces that effective May 2, 2017 it granted to its directors, officers, employees and consultants options to acquire the aggregate of 2,291,000 common shares of the Company ("Common Shares"). All options granted have the exercise price of CAD$1.00 and the expiry date of May 2, 2022.
About Liberty Silver Corp.
Liberty has the right to earn a joint venture interest in the 10,020-acre Trinity Silver Project pursuant to the terms of an earn-in agreement with Renaissance Exploration Inc. The Trinity Silver Project, located in Pershing County, Nevada, is Liberty's flagship project. Liberty has entered into a letter of intent to acquire, subject to due diligence and definitive documentation, the Bunker Hill Mine Complex located in Kellogg, Idaho subject to due diligence and definitive documentation.
Information about Liberty is available on its website, www.libertysilvercorp.com, or in the SEDAR and EDGAR databases.
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase 'forward-looking information' in the Canadian Securities Administrators' National Instrument 51-102 - Continuous Disclosure Obligations. The forward looking statements made herein are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations or assumptions with respect to, among other things, the ability of Liberty to successfully complete due diligence on the Bunker Hill Mine Complex, settle a definitive agreement on the terms as provided in the Letter of Intent or other satisfactory terms or at all, and fund the initial purchase payment for which Liberty does not have funds at this time, the ability of Liberty to preserve its interests in the Trinity Silver Project which is dependent on the completion of a feasibility study, the Company's present and future financial condition, the Company's ability to secure financing, the Company's ability to secure a public market for its securities, and the state of financial markets. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan", and may include statements regarding, among other things, the terms of the Letter of Intent to acquire the Bunker Hill Mine Complex, completion of the necessary due diligence and funding of the acquisition. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: the inability of Liberty to successfully complete due diligence on the Bunker Hill Mine Complex, settle a definitive agreement on the terms as provided in the Letter of Intent or other satisfactory terms or at all, and fund the initial purchase payment for which Liberty does not have funds at this time; the inability of Liberty to complete a feasibility study pursuant to the terms of the Trinity Silver Project earn-in agreement; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing; the inability of the Company to secure a public market for its securities and whether an active public market can be developed or sustained; development of changes in general economic conditions and conditions in the financial markets; changes in demand and prices for precious metals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors made in public disclosures and filings by the Company should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Howard M. Crosby