Prophecy Development Appoints Joaquin Merino-Marquez as VP South American Operation
Prophecy Development Appoints Joaquin Merino-Marquez
as VP South American Operation
Vancouver, British Columbia, November 5, 2019 – Prophecy Development Corp.
(“Prophecy” or the “Company”) (TSX: PCY, OTCQX:PRPCF, Frankfurt:1P2N) is pleased to
announce the appointment of Joaquin Merino-Marquez as Company’s Vice President, South
American Operation, based in Bolivia effective November 1, 2019.
Joaquin is a Professional Geologist with 27 years of experience in the mining industry. Prior
industry affiliations include roles as Vice President, Exploration for Primero Mining Corp. and
Vice President Exploration for Apogee Minerals Ltd.
Prior to Apogee, Mr. Merino -Marquez was the exploration manager for Placer Dome at the
Porgera Mine and a mine geologist at Hecla Mining's La Camorra mine. Joaquin is a native
Spanish speaker and fluent in English. He holds a MSc from Queens University, and a BSc in
Geology from University of Seville (Spain). He is a member of the Association of Professional
Geoscientists of Ontario.
Michael Doolin, Prophecy’s CEO stated: “Joaquin’s immense knowledge of the Pulacayo mine
will accelerate Prophecy’s effort in expanding Pulacayo resource and mine development.
Joaquin in his recent Pulacayo visit, was still recognized, and well-liked by the local community
which makes him a pleasure to work with and an excellent addition to our Prophecy team.”
From 2006 to 2010, Mr. Merino -Marquez lived in Bolivia and led Apogee’s 85,000 -meter drill
campaign at Pulacayo and Paca silver projects. The drill campaign was a success and defined
over 90 million oz of silver resources according to independent, third-party estimates (which are
now considered historic in nature and should not be relied up on as they are no longer NI43 -
101 compliant).
In 2015, Prophecy purchased Apogee’s Bolivian subsidiaries which have explored Pulacayo
and Paca since 200 5. In October 2019, the Bolivian government granted Prophecy’s Bolivian
subsidiaries the 100% exclusive right s to develop and mine at the Pulacayo and Paca
concessions for up to 30 years.
The Company further announces that pursuant to the terms of the Company’s Share-Based
Compensation Plan , it has granted in aggregate, 1,680,000 incentive stock options (the
“Options“), to certain directors, officers, employees and consultants of the Company . The
Options are exercisable at a price of $0.44 per share and vest at 12.5% per quarter for the first
two years following the date of grant. The Company also announces that it has issued 104,951
shares at a deemed price of $0.41 per share, in satisfaction of $43,030 of indebtedness currently
owed by the Company to some Directors of the Company.
About Prophecy
Prophecy is developing Pulacayo silver project in Bolivia and Gibellini vanadium project in
Nevada. Further information on Prophecy can be found at www.prophecydev.com.
PROPHECY DEVELOPMENT CORP.
ON BEHALF OF THE BOARD
“Michael Doolin”
CEO
For more information about Prophecy, please contact Investor Relations:
+1.604.569.3661 ext. 101
www.prophecydev.com
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the Toronto Stoc k Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain
words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar
expressions, and statements related to matters which are not historical facts, are forward -
looking information within the meaning of applicable securities laws. Such forward -looking
statements, which reflect management’s expectations regarding Prophecy’s future growth,
results of operations, performance, business prospects and opportunities, are based on
certain factors and assumptions and involve known and unknown risks and u ncertainties
which may cause the actual results, performance, or achievements to be materially different
from future results, performance, or achievements expressed or implied by such forward -
looking statements.
These factors should be considered carefully, and readers should not place undue reliance
on the Prophecy’s forward -looking statements. Prophecy believes that the expectations
reflected in the forward -looking statements contained in this news release and the
documents incorporated by reference herein are reasonable, but no assurance can be given
that these expectations will prove to be correct. In addition, although Prophecy has
attempted to identify important factors that could cause actual actions, events or results to
differ materially from those described in forward looking statements, there may be other
factors that cause actions, events or results not to be as anticipated, estimated or intended.
Prophecy undertakes no obligation to release publicly any future revisions to forward -
looking statements to reflect events or circumstances after the date of this news or to reflect
the occurrence of unanticipated events, except as expressly required by law.