VANCOUVER, BC, Oct. 1, 2024
/CNW/ - Scottie Resources Corp. ("Scottie" or the
"Company") (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8) is pleased
to announce the engagement of Kevin
Jennings as a strategic advisor to the Company.
Mr. Jennings is a distinguished international mining
finance executive, renowned for his robust expertise in financial
management, reporting, and strategic corporate transactions. With a
proven track record in leading finance for feasibility studies,
restructuring, and turnaround initiatives, he brings invaluable
insight to the industry.
As Chief Financial Officer, Mr. Jennings successfully
spearheaded the initial public offering of African Barrick Gold,
showcasing his exceptional leadership and strategic acumen. His
impressive portfolio includes senior roles at Barrick Gold as Vice
President of Corporate Development, Xstrata Nickel as Director of
Business Optimization, and Falconbridge as Director of Corporate
Development.
Transitioning from large international corporations, Mr.
Jennings has dedicated his career to driving the success of junior
mining businesses in emerging markets, including Russia, the DRC, and Mexico. His expertise in complex financial
restructuring and hands-on operational management has been
instrumental in advancing development projects to production in
these challenging environments.
Mr. Jennings is not just a finance leader; he is a catalyst for
growth and innovation in the mining sector.
"We are very pleased to welcome Kevin
Jennings as an advisor to Scottie Resources," commented
Brad Rourke, President and CEO.
"Kevin has been a long-term, supportive shareholder and brings a
wealth of experience and strategic insight to our team. His deep
understanding of our projects and commitment to our growth make him
a valuable addition as we continue advancing our assets towards the
next stage of development."
Early Warning
On September 16, 2024, Mr.
Jennings purchased 80,000 common shares (the "Shares") in
the open market. The 80,000 Shares were purchased at a price of
$0.175 per Share for total
consideration of C$14,000.00 (the "Acquisition").
Prior to the Acquisition, Mr. Jennings beneficially owned,
controlled, or directed an aggregate of 29,912,000 Shares and
783,000 share purchase warrants, representing approximately 9.977%
of the outstanding Shares of Scottie.
Immediately following the Acquisition Mr. Jennings beneficially
owned, controlled, or directed an aggregate of 29,992,000 Shares
and 783,000 share purchase warrants, representing approximately
10.003% of the outstanding Shares of Scottie on a non-diluted basis
and approximately 10.238% on a partially diluted basis, assuming
Mr. Jennings' exercise of his warrants.
Mr. Jennings may, depending on market or other conditions,
increase or decrease his beneficial ownership, control or direction
over, or exercise his current rights to acquire, Shares through
market transactions, private agreements or otherwise.
This press release is being disseminated as required by National
Instrument 62–103 – The Early Warning System and Related
Take Over Bids and Insider Reporting Issuers in connection with
the filing of an early warning report. An early warning report will
be electronically filed by Mr. Jennings with the applicable
securities commission in each jurisdiction where Scottie is
reporting and will be available on Sedar Plus
at www.sedarplus.ca.
Grant of Stock Options
The Company also announces that it has granted 2,100,000 options
to acquire common shares to certain directors, officers, and
consultants of the Company. The options are exercisable at a price
of $0.165 per share and are valid for
a period of five years.
ABOUT SCOTTIE RESOURCES CORP.
Scottie owns a 100% interest in the Scottie Gold Mine Property
which includes the Blueberry Contact Zone and the high-grade,
past-producing Scottie Gold Mine.
Scottie also owns 100% interest in the Georgia Project which
contains the high-grade past-producing Georgia River Mine, as well as the Cambria
Project properties and the Sulu and Tide North properties.
Altogether Scottie Resources holds approximately 58,500 hectares of
mineral claims in the Stewart Mining Camp in the Golden
Triangle.
The Company's focus is on expanding the known mineralization
around the past-producing mines while advancing near mine
high-grade gold targets, with the purpose of delivering a potential
resource.
All of the Company's properties are located in the area known as
the Golden Triangle of British
Columbia which is among the world's most prolific
mineralized districts.
Forward Looking Statements
This news release may contain forward‐looking statements.
Forward looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur. Although the Company believes the expectations
expressed in such forward‐looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in forward looking statements. Forward‐looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date such statements were made. The Company
expressly disclaims any intention or obligation to update or revise
any forward‐looking statements whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of TSX Venture
Exchange) accepts responsibility for the adequacy of accuracy of
this release.
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SOURCE Scottie Resources Corp.