Scottie Resources Announces Engagement of Kevin Jennings
SCOTTIE RESOURCES ANNOUNCES ENGAGEMENT
OF KEVIN JENNINGS
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.
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%SEDAR: 00031828E
For further information:
Additional Information: Brad Rourke, President and CEO, +1 250 877 9902,
[email protected]; Gordon Robb, Business Development, +1 250 217 2321, [email protected]
CO: Scottie Resources Corp.
CNW 07:30e 01-OCT-24