Lydian Board Announces Intention to Appoint New Director
TORONTO, May 30, 2019 - Lydian International Ltd. (TSX:LYD) (“Lydian” or the “Company”) announced today that its board of directors (the “Board”) intends to appoint Victor Flores as a new director immediately following the upcoming annual general meeting of Lydian on June 12, 2019 (the “AGM”). Mr. Flores has advised that he is willing to join the Board. Due to timing limitations under Jersey law, the Board cannot add Mr. Flores to the notice of annual general meeting, management information circular and form of proxy for the AGM, but if the directors as set out in the notice of annual general meeting are elected at the AGM, they currently intend to appoint Mr. Flores to the Board immediately following the AGM.
Victor Flores is a Mining Consultant advising mining companies and investment managers. From November 2009 to March 2018 he was a Partner at Paulson & Co. and Co-Portfolio Manager of the PFR Gold Fund, responsible for the firm’s gold mining investments. Prior to that he was a Managing Director and Senior Gold Analyst with HSBC Securities (USA) from March 1998 through November 2009, and served as Portfolio Manager and Analyst at US Global Investors from January 1988. He is a graduate of the University of Texas at Austin, where he earned both a Bachelor of Science Degree in Geological Sciences and Master’s Degree in Energy and Mineral Resources Ltd.. He achieved the Chartered Financial Analyst (CFA) designation in 1992. His skills and experience include Investment Analysis, Portfolio Management, Technical Due Diligence, and Corporate Finance.
About Lydian International Limited
Lydian is a gold-focused mineral development company, whose main focus is on the Amulsar Project, a gold development-stage project located in the Republic of Armenia. The Company’s strategy is to implement mine development and construction plans for the Amulsar Project as described in the Company’s most recent technical report titled “NI 43-101 Technical Report, Amulsar Updated Resources and Reserves Armenia” dated March 30, 2017 and to transition to a gold producer. For more information and to directly contact us, please visit www.lydianinternational.co.uk.
For further information, please contact:
Bill Dean, Deputy Chief Financial Officer
Caution regarding forward-looking information
Certain information contained in this news release is “forward looking”. All statements in this news release, other than statements of historical fact, that address events, results, outcomes or developments that the Company expects to occur are “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “intends”, “anticipates” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “will”, “would”, “should”, or “occur” or the negative or other variations of such terms. Forward-looking statements in this news release include, among others, statements with respect to: the upcoming AGM, the election of directors at the upcoming AGM and the intention to appoint Mr. Flores as a director following the AGM and the timing of such appointment.
Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, without limitation: adverse general economic, market or business conditions; regulatory changes; as well as "Risk Factors" included in the disclosure documents filed on and available at www.sedar.com. In addition, no assurances can be given as to the outcome of the upcoming AGM, the election of directors at the upcoming AGM and whether Mr. Flores will be appointed as a director following the AGM. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. All of the forward-looking statements contained in this news release are qualified by these cautionary statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.