Vancouver, British Columbia–(Newsfile Corp. – January 29, 2018) – Darien Resource Development Corp. (TSXV: DRR) (“Darien” or the “Company“) announces the appointment of Grant Ewing as its president and chief executive officer and as a director of the Company.
Grant is a professional geologist with over 25 years of experience in the mineral industry; the last 10 years in senior executive roles. His knowledge base covers the entire mine development cycle, from early stage exploration through to production, in several different commodities. Strong M&A and capital markets knowledge complement Mr. Ewing’s extensive mineral industry experience. Most recently, he was President and CEO of Kiska Metals from 2014 until it was acquired by AuRico Metals in March 2017, and Vice President Exploration of AuRico Metals until it was acquired by Centerra Gold in January 2018 for ~$300 million.
Greg Crowe has resigned from his position as chief executive officer and a director. Darien wishes to thank Mr. Crowe for his extensive contributions over the last year. Mr. Crowe will be focusing specifically on the development of Silver One Resources and its Candelaria project.
Darien announces that it intends to raise up to $4.5-million through a non-brokered private placement financing consisting of up to 18 million shares (the “Shares“) priced at $0.25 per Share (the “Financing“). A finder’s fee will be payable in cash or in shares in connection with the Financing in accordance with the policies of the TSX Venture Exchange (the “Exchange“).
The securities issued in connection with the Financing will be subject to a four-month restricted resale period from the closing date. Proceeds from the Financing will be used to take advantage of compelling exploration opportunities that the Company believes exist in the marketplace and for general corporate purposes.
Completion of the Financing will be subject to all necessary approvals, including the approval of the Exchange. There can be no assurance that the Financing will be completed as proposed or at all.
Darien announces that its board of directors has granted an aggregate of 1,700,000 stock options to officers and consultants of the Company at an exercise price of $0.25 per Share for a period of five years. Such options have been granted pursuant to the Company’s 10% rolling stock option plan and are in accordance with policies within the Exchange.
On behalf of Darien Resource Development Corp.
Grant Ewing, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain “forward-looking statements”. Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Darien Resource Development Corp., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Darien’s expectations are the risks detailed herein and from time to time in the filings made by Darien Resource Development Corp. with securities regulators. Those filings can be found on the Internet at http://www.sedar.com.