TORONTO, June 25,
2024 /CNW/ - Sierra Metals Inc. (TSX: SMT)
(OTCQX: SMTSF) ("Sierra Metals" or the "Company") hereby announces
the voting results from its annual general meeting ("Meeting) of
shareholders held on Tuesday, June 25,
2024.
A total of 158,972,647 common shares were represented at the
Meeting, being 75.66% of the Company's issued and outstanding
shares. Shareholders voted in favour of the reappointment of
PricewaterhouseCoopers LLP as auditors for the ensuing year and the
election of Miguel Aramburu,
Ernesto Balarezo, Robert Neal, Beatriz
Orrantia, Wendy Kaufman and
Roberto Maldonado (the "Management
Nominees"), to the Company's board of directors (the
"Board"). Mr. Douglas Cater
received less than 50% of votes cast in favour of his re-election
and has resigned from the Board with immediate effect in accordance
with the majority voting provisions of the Canada Business
Corporations Act.
Mr. Oscar Cabrera and Mr.
Carlos Santa Cruz had both
previously announced their intentions to retire from the Board and
did not stand for re-election at this year's Meeting.
Ernesto Balarezo, CEO of Sierra
Metals, comments, "On behalf of the Board and entire team at Sierra
Metals we would like to thank Oscar, Doug and Carlos for their
tremendous contributions and support as we turned Sierra Metals
around during the past 18 months. In particular, we would like to
recognize Oscar as Chair of the Board for his leadership as he led
the Company through various challenges and helped stabilize our
business, allowing Sierra Metals to be stronger and well positioned
for the future. We wish Doug, Oscar and Carlos all the best."
Mr. Balarezo continues, "We are looking forward to having
Roberto join the Board. His deep and extensive operating experience
in the mining sector will help guide us through our next phase of
growth."
Mr. Roberto Maldonado has over 35
years of professional experience in the mining sector, currently
serving as the General Manager of Agnitia Consultores SAC in
Peru. He previously held the
position of Chief Operating Officer (2008-2017) at Volcan Compañía
Minera and was responsible for five mining operations including
supporting activities such as administration, human resources
management, procurement management, control of contracts,
appraisals, inventory control, safety, and environmental systems.
Mr. Maldonado holds a masters in Mineral Engineering Management
from The Pennsylvania State University
and obtained his Mining Engineering degree from the National University of Engineering (Universidad
Nacional de Ingeniería).
About Sierra Metals
Sierra Metals is a Canadian
mining company focused on copper production with additional base
and precious metals by-product credits at its Yauricocha Mine in
Peru and Bolivar Mine in
Mexico. The Company is intent on
safely increasing production volume and growing mineral resources.
Sierra Metals has recently had several new key discoveries and
still has many more exciting brownfield exploration opportunities
in Peru and Mexico that are within close proximity to the
existing mines. Additionally, the Company has large land packages
at each of its mines with several prospective regional targets
providing longer-term exploration upside and mineral resource
growth potential.
Forward-Looking Statements
This press release contains
forward-looking information within the meaning of Canadian
securities legislation. Forward-looking information relates to
future events or the anticipated performance of Sierra and reflect
management's expectations or beliefs regarding such future events
and anticipated performance based on an assumed set of economic
conditions and courses of action. In certain cases, statements that
contain forward-looking information can be identified by the use of
words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates",
"believes" or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might", or "will be taken", "occur" or "be achieved" or the
negative of these words or comparable terminology. By its very
nature forward-looking information involves known and unknown
risks, uncertainties and other factors that may cause actual
performance of Sierra to be materially different from any
anticipated performance expressed or implied by such
forward-looking information.
Forward-looking information is subject to a variety of risks and
uncertainties, which could cause actual events or results to differ
from those reflected in the forward-looking information, including,
without limitation, the risks described under the heading "Risk
Factors" in the Company's annual information form dated
March 15, 2024 for its fiscal year
ended December 31, 2023 and other
risks identified in the Company's filings
with Canadian securities regulators, which
are available at www.sedarplus.ca.
The risk factors referred to above are not an exhaustive list of
the factors that may affect any of the Company's forward-looking
information. Forward-looking information includes statements about
the future and is inherently uncertain, and the Company's actual
achievements or other future events or conditions may differ
materially from those reflected in the forward-looking information
due to a variety of risks, uncertainties and other factors. The
Company's statements containing forward-looking information are
based on the beliefs, expectations, and opinions of management on
the date the statements are made, and the Company does not assume
any obligation to update such forward-looking information if
circumstances or management's beliefs, expectations or opinions
should change, other than as required by applicable law. For the
reasons set forth above, one should not place undue reliance on
forward-looking information.
SOURCE Sierra Metals Inc.