TORONTO, Nov. 25, 2020 (GLOBE NEWSWIRE) — Torex Gold Assets Inc. (the “Firm” or “Torex”) (TSX: TXG) is happy to announce the appointment of Andrew Snowden because the Firm’s Chief Monetary Officer (“CFO”) efficient January 4, 2021. Andrew might be changing Steven Thomas, who might be stepping down from Torex efficient December 31, 2020.
Andrew is presently Senior Vice President and CFO at Sherritt Worldwide Company, a multinational mining firm with its main operations in North America and the Caribbean. He has offered management in all areas of enterprise and monetary administration together with strategic planning, efficiency measurement, debt and fairness financing, advanced accounting and company growth.
Andrew joined Sherritt in September 2012 as Director of Finance and progressed by way of senior monetary roles together with Company Controller and Vice President, Finance earlier than assuming his present position in 2017. Previous to becoming a member of Sherritt, Andrew gained 12 years of expertise at Ernst & Younger within the UK, Australia, and Canada. He’s a Chartered Skilled Accountant (CPA, CA), a member of the Institute of Chartered Skilled Accountants of Ontario and has a Bachelor of Science diploma from the College of Durham in England.
Jody Kuzenko, President and CEO of Torex, acknowledged:
“We’re very excited to have Andrew be a part of our crew on this pivotal time within the historical past of Torex Gold. He’s a solutions-oriented and values-centered skilled who brings a depth of expertise past monetary administration and accounting that might be of nice profit to our Firm as we glance towards the long run.
“His observe document speaks for itself. At Sherritt, he demonstrated his deep expertise in fairness and debt capital markets by considerably strengthening the Firm’s steadiness sheet by way of numerous measures together with divestment, debt and fairness issuances and debt purchase backs. He additionally developed a sturdy capital allocation processes for each sustaining and progress capital which maximized shareholder returns.
“Steven Thomas might be departing Torex at yr finish. I wish to sincerely thank him for all of his contributions to our Firm and I want him the perfect in his new endeavors.
“Seeking to the long run, with Andrew becoming a member of what’s already a world-class crew, Torex will proceed to not solely ship operational excellence, however place itself for continued progress and worth technology as a revered and accountable gold firm.”
About Torex Gold Assets Inc.
Torex is an intermediate gold producer primarily based in Canada, engaged within the exploration, growth, and operation of its 100% owned Morelos Gold Property, an space of 29,000 hectares within the extremely potential Guerrero Gold Belt situated 180 kilometres southwest of Mexico Metropolis. The Firm’s principal belongings are the El Limón Guajes mining advanced (“ELG” or the “ELG Mine Complicated”), comprising the El Limón, Guajes and El Limón Sur open pits, the El Limón Guajes underground mine together with zones known as Sub-Sill and ELD, and the processing plant and associated infrastructure, which commenced business manufacturing as of April 1, 2016, and the Media Luna deposit, which is an early stage growth undertaking, and for which the Firm issued an up to date preliminary financial evaluation in September 2018 (the “Technical Report”). The property stays 75% unexplored.
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CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This press launch incorporates “ahead wanting statements” and “forward-looking data” inside the which means of relevant Canadian securities laws. Ahead-looking statements embody the beginning date and expectations of the Firm’s incoming CFO, and expectation that Torex will proceed to not solely ship operational excellence, however place itself for continued progress and worth technology as a revered and accountable gold firm. Ahead-looking data is topic to identified and unknown dangers, uncertainties and different components which will trigger the Firm’s precise outcomes, efficiency or achievements to be materially totally different from these expressed or implied by such forward-looking data, together with, with out limitation, these threat components recognized within the Firm’s annual data kind and administration’s dialogue and evaluation (the “Disclosure Paperwork”). Ahead-looking data relies on the affordable assumptions, estimates, evaluation and opinions of administration made in gentle of its expertise and notion of tendencies, present situations and anticipated developments, and different components that administration believes are related and affordable within the circumstances on the date such statements are made. Though the Firm has tried to determine vital components within the Disclosure Paperwork that would trigger precise outcomes to vary materially from these contained in forward-looking data, there could also be different components that trigger outcomes to not be as anticipated. There will be no assurance that such data will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such data. Accordingly, readers shouldn’t place undue reliance on forward-looking data. The Firm doesn’t undertake to replace any forward-looking data, besides in accordance with relevant securities legal guidelines.