MONTRÉAL, QUÉBEC–(Marketwired – June 23, 2017) – Bowmore Exploration Ltd. (the “Company”) (TSX VENTURE:BOW)(FRANKFURT:0B5) is pleased to announce that its name change to “Osisko Metals Incorporated” and concurrent three to one (3 to 1) share consolidation (the “Consolidation”) will become effective on Monday, June 26, 2017, when the Company’s common shares will commence trading at the open under the symbol “OM” on the TSX Venture Exchange (the “TSX-V”).
The Company is changing its name to better reflect its ongoing strategy of building a highly prospective base metal exploration and development company, with an emphasis on zinc. The Company will explore in the historic Bathurst Mining Camp in New Brunswick, Canada, as well as evaluate multiple zinc targets in the Province of Québec.
Further to the news release of June 1, 2017, the Company is also pleased to announce that Jeff Hussey has now been appointed President and CEO as well as Director of the Company. Mr. Hussey is a Professional Geologist with over 30 years’ experience in exploration and mine development in both open pit and underground operations. During his 20 years with Noranda Inc. and Falconbridge Ltd., he was directly involved in base metal exploration, development and mine operations at the Brunswick No. 12 and Gaspé Copper mines. He worked at the Antamina mine in Peru where he was a member of the start-up team, and while at the Raglan mine in Northern Quebec, he was part of the process optimization team. More recently, Mr. Hussey worked for Champion Iron Mines, where he helped to develop iron projects in Quebec’s North Shore region.
Jeff Hussey, the Company’s President and CEO comments: “The name change to Osisko Metals and the rebranding of the Company reflects our intent to build a fast moving and strongly backed exploration and development company in the base metal space, pivoting on the years of experience and unparalleled success of the Osisko brand.”
Bowmore Exploration Ltd (to be named “Osisko Metals Inc.”) (an Osisko group company) is a Canadian base metal exploration and development company exploring to create value in the zinc space in Canada. In 2017, the Company acquired 40,000 hectares in the Bathurst Mining Camp (“BMC”), a major zinc-lead-silver producing district. The objective is to develop a multi-deposit model with historical resources in the BMC that would feed a central concentrator. Several deposits are currently being reviewed. In Quebec, the Company acquired 42,000 hectares that cover 12 grass-root zinc properties that will be selectively advanced. In parallel, Osisko Metals will be monitoring zinc-oriented peers for other opportunities. Osisko Gold Royalties Ltd. (TSX:OR)(NYSE:OR) is a significant shareholder of the Company with approximately 20.5% ownership.
For further information on BOWMORE, visit www.bowmorexploration.com.
Neither 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 Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information provided in this news release about the exploration and/or resource development projects, including new results from drill programs, the significance of assay results, potential mineralization, including the discovery of new mineralized zone, the potential to extend mineralization in any direction, the ability to complete any proposed exploration activities and the results of such activities, the continuity or extension of any mineralization and any other information herein that is not a historical fact, may all be forward-looking information. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Company to complete further exploration activities, including drilling; property interests in the relevant projects; the ability of the Company to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non -governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Company cannot guarantee shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Company nor any other person assumes responsibility for the accuracy and completeness of any such forward looking information. Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
President & CEO
BOWMORE Exploration Ltd.
Executive Vice President Finance & CFO
BOWMORE Exploration Ltd.