GoldMining Announces Appointment of John Griffith as Chief Development officer of Gold Royalty Corp.
GoldMining Announces Appointment of John Griffith as Chief
Development officer of Gold Royalty Corp.
VANCOUVER, BC
,
Aug. 31, 2020
/CNW/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (OTCQX: GLDLF) is pleased to announce the
appointment of
John Griffith
as Chief Development Officer of its subsidiary, Gold Royalty Corp. ("Gold Royalty"). Mr. Griffith has also joined the advisory board
of GoldMining.
David Garofalo
, Chairman and CEO of Gold Royalty, commented: "We're delighted to welcome John to the Gold Royalty team. As the former Head of Bank of
America's Metals and Mining Investment Banking, John has advised on more than
$60 billion
of successful mining transactions over the past decade alone. John
was a trusted advisor to me and Goldcorp in our
US$32 billion
merger with Newmont Mining last year, the largest merger ever completed in the gold sector. I
am confident that John's wealth of experience in capital markets with one of the largest investment banks in the world will serve Gold Royalty very well as we
grow our business."
John Griffith
commented: "It is a tremendous privilege to be working closely with
David Garofalo
,
Amir Adnani
and the team at Gold Royalty and GoldMining as
we set out to build upon an already exciting portfolio of assets to create value for all stakeholders. The royalty and streaming business model has emerged
over the past decade to become a critical yet growing part of the global precious metals sector. Whether funding development growth, M&A, or enhancing
balance sheet strength, royalty and streaming companies are no longer viewed as niche players within the industry, but as a primary source of capital and
efficient vehicles for driving sector-leading investment returns."
Mr. Griffith is a former Managing Director and the Head of Americas Metals & Mining Investment Banking for Bank of America (2006-2020). He brings nearly
30 years of financial services sector experience spanning three continents, including 26 years of global investment banking expertise. He has advised senior
management and executive board members in M&A, capital markets, investor relations, risk management and general advisory in the global mining industry.
John's global landmark transaction was representing Goldcorp in its merger with Newmont Mining in 2019. Other notable advisory transactions in the gold
sector include
Barrick Gold's
sales of Yilgarn South, Kanowna Belle and Plutonic for
A$400 million
, Eldorado Gold's acquisition of European Goldfields for
$2.5
billion
, Agnico Eagle's acquisition of Comaplex Minerals for
$655 million
and Yamana Gold's sale of Agua Rica to Xstrata and Goldcorp for an undisclosed
amount.
He has extensive structuring and negotiating experience and has led complex multi-jurisdictional transactions. In an industry first – he structured the
US$648
million
gold stream with Franco Nevada to partially finance, in combination with high yield notes and equity, Lundin Mining's
US$1.8 billion
acquisition of the
Candelaria mine from Freeport McMoRan. Most recently, John worked extensively with Triple Flag Precious Metals Corp., a private precious metals-focused
royalty and streaming company backed by Elliot Capital Management Corporation.
Mr. Griffith holds a Bachelor of Commerce from the University of
Cape Town
and is a dual citizen of the U.S. and
Canada
.
About Gold Royalty Corp.
Gold Royalty Corp., a private wholly-owned subsidiary of GoldMining, is a gold-focused royalty company. Gold Royalty's royalty portfolio is expected to initially
comprise of 0.5% to 2.0% net smelter return ("NSR") royalties on the Company's interest in 14 existing projects with the opportunity to expand the royalty
portfolio through the Company's buy-back rights on existing NSR royalties ranging from 0.5% to 2% held by third-parties on up to 5 of the 14 projects.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined
acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in
Canada
,
U.S.A.
,
Brazil
,
Colombia
and
Peru
. Additionally, GoldMining owns a 75% interest in the Rea Uranium Project, located in the
Western Athabasca
Basin of
Alberta, Canada
.
Forward-looking Statements
This document contains certain forward-looking statements that reflect the current views and/or expectations of GoldMining with respect to its business and
future events, including expectations and future plans respecting each of GoldMining's and Gold Royalty's, business plans and strategies. Forward-looking
statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which
GoldMining and Gold Royalty, operate. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: the inherent
risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses and uncertainties relating
to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs Annual Information
Form for the year ended
November 30, 2019
, management's discussion and analysis for the three months ended
February 29, 2020
and other filings with
Canadian securities regulators, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-
looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop
such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating
any voluntary forward-looking statements, except as required by applicable securities law.
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SOURCE
GoldMining Inc.
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For further information:
GoldMining Inc., Amir Adnani, Chairman, Garnet Dawson, CEO, Telephone: (855) 630-1001, Email: [email protected]
CO: GoldMining Inc.
CNW 06:30e 31-AUG-20