G Mining Ventures Appoints Naguib Sawiris to its Board of Directors
G Mining Ventures Appoints Naguib Sawiris to its Board of
Directors
BROSSARD, QC
,
Oct. 11, 2024
/CNW/ -
G Mining Ventures Corp.
("
GMIN
" or the "
Corporation
") (TSX: GMIN) (OTCQX:
GMINF) announced today that it has appointed
Naguib Sawiris
, founder of the La Mancha group ("
La Mancha
"), to its Board of
Directors, effective
October 11, 2024
.
"
We welcome Naguib to the G Mining Ventures board," said
Louis Gignac Sr.
, GMIN's Chairman of the Board
, "Naguib's
extensive experience supporting growing companies, in telecom, real estate and more notably in the mining sector, spans many
decades. His role as strategic investor has helped create billions of dollars in shareholder value, and his on-going support of
GMIN's vision and strategy has been instrumental in transforming GMIN from explorer-developer to an Americas-focused gold
producer. He has an impressive track record of identifying investment opportunities, prioritizing proactive sustainability initiatives,
and advising growing businesses. We look forward to continuing our relationship with Naguib in this new role as a fellow Board
director."
In connection with the appointment of Mr. Sawiris, Mr.
Karim Nasr
has ceased his role as the La Mancha representative on the
GMIN Board. The GMIN Board of Directors will consist of 10 members.
Louis Gignac Sr.
continued, "GMIN has benefitted from Karim's guidance stemming from his strong business acumen garnered
in building strong and sustainable businesses in the telecom and mining industries. We thank Karim for his leadership and
service over the past two years."
Mr. Sawiris is a manager of La Mancha Holding Sàrl, which he took private in 2012 with the vision to bring operational efficiency
and ambition to a sector dominated by smaller junior companies. In 2015, he took the strategic decision to vend in La Mancha's
key publicly listed stakes into two regionally focused junior miners, Evolution Mining and Endeavour Mining, resulting in La
Mancha becoming the largest shareholder in each of these companies. In the years that followed, Mr. Sawiris used his Board
positions and La Mancha's capital to support each of these companies, supporting the establishment of two multi-billion dollar
mid-tier mining companies. Since 2021, La Mancha operates a
Luxembourg
-based fund, La Mancha Resource Fund SCSp,
which focuses on the precious and energy transition metals sectors.
In addition to his role at La Mancha, Mr. Sawiris holds several board positions, including Executive Chairman of Orascom
Investment Holding S.A.E. and Chairman of Ora Developers.
He holds a diploma in Mechanical Engineering with a master's in Technical Administration from the Federal Institute of
Technology Zurich (
ETH
). He is also the recipient of numerous honorary degrees, industry awards and civic honours, including
the Honor of Commander of the "
Légion d'Honneur
" (the highest award given by the French Republic for outstanding services
rendered to
France
). In 2011, Mr. Sawiris was awarded the Honor of Commander of the Order of the "Stella della Solidarieta
Italiana" (Star of Italian Solidarity).
About G Mining Ventures Corp.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and
development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-
positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven
development expertise. GMIN is currently anchored by the Tocantinzinho Gold Mine in
Brazil
and Oko West Project in
Guyana
,
both mining friendly and prospective jurisdictions.
Additional Information
For further information on GMIN, please visit the website at
www.gmin.gold
About La Mancha and
La Mancha Resource Fund SCSp
La Mancha Resource Fund SCSp (the "
Fund
") is a
Luxembourg
-based deep value fund focused on investments in the precious
and energy transition metals space. The Fund's general partner is La Mancha Capital Management GP S.à r.l. which has
delegated investment management over La Mancha's investments to NS Partners S.A., which has further delegated La
Mancha's portfolio management to La Mancha Resource Capital LLP. La Mancha Resource Capital LLP is authorised and
regulated by the United Kingdom Financial Conduct Authority (FRN 978592).
For further information please visit:
https://lamancharesourcecapital.com
Additional Information
For further information on La Mancha please visit the website at
https://lamancharesourcecapital.com/
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information"
and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections
as of the date of this press release. Forward-looking statements contained in this press release include, without limitation,
those related to (i) the quoted expectations of GMIN's Chairman of the Board, and
(ii) more generally,
the sections entitled
"About G Mining Ventures Corp." and "About La Mancha Resource Fund SCSp".
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered
reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such
assumptions
include, without limitation, those relating to the price of gold and currency exchange rates, and those underlying the items
listed on the above sections entitled "About G Mining Ventures Corp." and "About La Mancha Capital Advisory LLP".
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ
materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but
without limitation, (i) appointing Mr. Sawiris to GMIN's Board of Directors will create shareholder value and will bring GMIN to
follow the same path as Evolution Mining and Endeavour Mining, (ii) GMIN will achieve its stated objectives for Tocantinzinho
and
Oko West
, or (iii) GMIN will use TZ and
Oko West
to grow GMIN into the next intermediate producer, as future events
could differ materially from what is currently anticipated by the Corporation. In addition, there can be no assurance that
Brazil
and/or
Guyana
will remain mining friendly and prospective jurisdictions.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks
exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do
not reflect future experience. Forward-looking statements are provided for the purpose of providing information about
management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these
forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ
materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in
such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these
cautionary statements and those made in the Corporation's other filings with the securities regulators of
Canada
including, but
not limited to, the cautionary statements made in the relevant sections of the Corporation's (i) Annual Information Form dated
March 27, 2024
, for the financial year ended
December 31, 2023
, and (ii) Management Discussion & Analysis. The
Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable
risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-
looking statements or to explain any material difference between subsequent actual events and such forward-looking
statements, except to the extent required by applicable law.
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For further information:
Jessie Liu-Ernsting, Vice President, Investor Relations and Communications, 647.728.4176,
[email protected]; Contact: Vincent Benoit, Managing Partner and Co-CIO, +44.203.960.2020, [email protected]
CO: G Mining Ventures Corp
CNW 07:00e 11-OCT-24