TORONTO, May 12, 2021 (GLOBE NEWSWIRE) -- (TSXV: SRHI) - SRHI Inc. ("SRHI" or the "Company”) is pleased to announce that its upcoming virtual annual and special meeting of shareholders (“AGM”) will be held on June 2, 2021. Shareholders will be asked to approve a name change and expanded board of directors (the “Board”). In addition, Terry Lyons will step down as Interim CEO and be succeeded by Michael Staresinic, the Company’s current President and CFO. Mr. Lyons will remain on as independent Chair of the Board.
“Michael has been part of this Company since 2013 as CFO and most recently as President and CFO,” stated Terry Lyons, Interim CEO of the Company. “His deep knowledge of the Company and its majority-owned asset, Minera Tres Valles (“MTV”), made him a natural choice for the role. Over the past year alone, Michael has successfully steered MTV through a restructuring, managed the sales process of several legacy investments, raised capital to support MTV and transitioned the Company to focus on copper mining while exercising all duties of a public-company CFO. To aid him in this transition, the Company has initiated a search for a new CFO and I will continue solely as the independent Chairman.”
At the Company’s upcoming AGM, the Board will be seeking approval of a special resolution that will permit the Company to change its name to “Three Valley Copper Corp.” or such other name as the Board, in its sole discretion, deems appropriate. The proposed new name reflects the Company’s sole business focus and is symbolic of its majority-owned copper producing operating mine, Minera Tres Valles in Salamanca, Chile.
The Board is also proposing to the shareholders to elect Joe Phillips, current COO of MTV, to the Board. Mr. Phillips would not be considered an independent director.
Mr. Phillips is a senior mining executive with 48 years of experience in the construction, commissioning and operation of mining projects in 13 countries (7 in Latin America) on 5 continents. He has directed the construction, commissioning and operation of 11 plants and mining operations. Prior to MTV, he held senior executive roles such as Chairman, COO, VP Operations, Chief Restructuring Officer, Chief Development Officer and Senior VP Development.
Mr. Phillips is a Registered Professional Mining Engineer, graduating from the Colorado School of Mines ("CSM"), and with graduate studies in Engineering Management at the University of South Florida. At CSM he was the “Outstanding Graduate in Engineering Geology”, a member of Tau Beta Pi engineering honorary, Sigma Gamma Epsilon service honorary, and a Distinguished Military Graduate.
About SRHI Inc.
SRHI, headquartered in Toronto, Ontario, Canada is focused on the copper production growth from, and exploration of, its primary asset, MTV. Located in Salamanca, Chile, MTV is 70% owned by the Company and MTV's main assets are the Minera Tres Valles mining complex and its 46,000 hectares of property. For more information about SRHI, please, please visit www.srhi.ca.
Cautionary Statement Regarding Forward-Looking Information
Certain statements in this news release contain forward-looking information (collectively referred to herein as the "Forward-Looking Statements") within the meaning of applicable Canadian securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the foregoing, this news release contains Forward-Looking Statements pertaining to: the future appointment of Mr. Staresinic as CEO, the resignation of Mr. Lyons as CEO, the anticipated approval by shareholders at the AGM of the Company’s name change and director slate.
Although SRHI believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including: the approval by the majority of shareholders of the name change and election of directors at the AGM. Although the Company believes that the expectations and assumptions on which such Forward-Looking Statements and information are based are reasonable, undue reliance should not be placed on the Forward-Looking Statements and information as the Company cannot give any assurance that they will prove to be correct. Since Forward-Looking Statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize. Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. Other risk factors that could affect the Company's operations or financial results are included in the Company's Annual Information Form dated March 3, 2021 and may be accessed through the SEDAR website (www.sedar.com). The forward-looking statements and information contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.
For further information:
Michael StaresinicPresident and Chief Financial OfficerT: (416) 943-7107E: email@example.com
Source: SRHI Inc.