SAIDF - Fidelity Minerals Announces Key Management and Board Changes as a Foundation to Achieving the Next Stage of Corporate Growth and Value Creation
(TheNewswire)
Vancouver, BC – TheNewswire - March 2 nd , 2021 – Fidelity MineralsCorp. (TSXV:FMN ) | ( FSE:S5GM ) | ( SSE:MNYC)(“ FidelityMinerals ” or the “ Company ”) is pleased to announce key board changes as part ofan orderly succession process, to ensure the board is strongly alignedwith achieving a number of important milestones.
The Company advises that experienced resources companydirector Dean Pekeski has been appointed Chief Executive Officer andPresident effective March 1, 2021. Mr. Pekeski is replacing FidelityMinerals’ current CEO, Ian Graham, who will remain as an independentmember of the Board. In conjunction with his appointment as CEO, Mr.Pekeski will join the Company's Board of Directors effectiveimmediately and will work closely with Mr. Graham during a transitionperiod which will be completed during March 2021.
Concurrently with the appointment of Mr Pekeski, theChairman of Fidelity, Mr Bahay Ozcakmak, has resigned from the Board,in order to focus on his executive responsibilities at ParkwayMinerals (ASX:PWN). The Board wishes to thank Mr Ozcakmak for hisenormous contribution in steering the Company through its successfulturnaround, including the establishment of a diverse projectportfolio, which forms a strong foundation for future growth of theCompany.
The Chairman of Lions Bay Capital (“ LBI ”), John Byrne,a strategic shareholder of Fidelity Minerals (21,229,811 shares for42.9% of Fidelity Minerals), has accepted an invitation to join theFidelity Minerals Board as Chairman. Mr Byrne has extensive experiencein building mining companies and is acquainted with all aspects of theCompany’s activities.
Mr. Pekeski is a motivated and results-driven seniorexecutive with more than 25 years of international experience inmineral exploration and project development for both major and juniorcompanies. He has demonstrated multifaceted leadership building teamsacross cultures and complex geographies. He has a proven track recordof discovery and project development success through key value hurdlesthat have unlocked shareholder value. He has successfully navigatedmultiple large-scale Projects from concept through exploration,engineering studies, permitting, and Project finance. From 1996 to2008, Dean was an exploration geologist and project manager with RioTinto where he explored for base metal and diamond deposits acrossCanada, Southern Africa, and India. He led the Rio Tinto explorationteam that discovered and evaluated the diamond bearing Bunderkimberlites in India. After leaving Rio Tinto, Dean joined WesternPotash Corp. where, as Executive Vice President, he successfullymanaged the Milestone Potash Project in Saskatchewan from discovery,through pre-feasibility, feasibility, environmental permitting, andproject financing. This Project has been constructed and is currentlyramping up production. From January 2016 until September 2020, Deanwas Vice President Project Development for Peak Minerals Inc.(formerly Crystal Peak Minerals) and was responsible for successfullydelivering a Feasibility Study and BLM permits for the Sevier PlayaPotash Project. Since September 2020, Dean has held the position ofPresident and CEO of Peak Minerals, now a wholly owned subsidiary ofEMR Capital. Dean holds a degree in Earth Sciences from the Universityof Western Ontario and is a registered Professional Geologist based inCanada.
John Byrne has 40 years of experience in the naturalresource industry as a financial analyst, investor and mine developer.He formed Cambrian Mining Plc in 2002 with net assets of £1.4 millionand before being acquired in 2008 had net assets of GBP£149 million.John has been Chairman and CEO of numerous successful resourcecompanies, including Western Coal Corp which was capitalised at lessthan C$1 million when he joined, and was sold for C$3.3billion in2010. He is a founder of Lions Bay Capital, the Company’s largestshareholder.
Mr. Bahay Ozcakmak, commented: " The changes we announce today are theresult of an orderly succession process that is being implemented toensure the Board is strongly aligned with ensuring the continuedcreation and eventual liberation of value inherent in our existingproject portfolio. Throughthe appointment of both Dean and John to the Board, two seasonedresource sector professionals, I am confident the Company will benefitenormously from the experience they will bring to their newroles.”
Mr. Ozcakmak acknowledged Mr. Graham:" On behalf of the Board,I would like to extend our sincere appreciation and gratitude to Ianfor his hard work and dedication at Fidelity over several years. Ihave enjoyed working closely with Ian to successfully guide theCompany through an intense 24-month corporate transformation which hasnow positioned the Company for significant growth and success. Wethank Ian for working with Dean to ensure a smooth transition of theCEO position. "
Mr. Graham commented: " I am thrilled to have Dean join the boardof Fidelity Minerals as CEO; having worked with Dean at Rio Tinto andat Western Potash, I am familiar with the vision, focus and energy hebrings to his business activities. I am pleased that Dean immediatelyrecognised the compelling value proposition inherent in our projects,and he has already identified key aspects that will drive bettermarket recognition of our assets. I am confident that Dean and Johnwill co-ordinate a significant re-rating of our Company. John, Dean,you have my 100% support!”
Mr. Pekeski commented: " I am excited about the opportunity to joinFidelity. The Project portfolio assembled is compelling and I lookforward to working closely with our Board on delineating substantialcopper, gold, and silver resources to fully realize the valuepotential of Fidelity’s assets in Peru. "
About Fidelity Minerals Corp.
Fidelity Minerals Corp. is assembling and advancing aportfolio of high-quality mining assets in Peru through theimplementation of our Strategic Project Generator (SPG) model. Theproject generator model involves the identification and acquisition ofappraisal stage opportunities with near-term valuation catalysts,including potential for high-impact M&A. The company is backed byan experienced management team with diverse technical, market, andcommercial expertise and is supported by committed and sophisticatedinvestors focused on building long term value.
On behalf of the Board of FidelityMinerals;
Ian Graham
CEO and Director
Tel: +1.604.671.1353
Email: igraham@fidelityminerals.com
NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWSRELEASE.
Disclaimer & Forward-LookingStatements: This news releasecontains forward-looking statements. Forward-looking statements arestatements that relate to future events or future financialperformance. In some cases, you can identify forward-lookingstatements by the use of terminology such as “may”, “should”,“intend”, “expect”, “plan”, “anticipate”,“believe”, “estimate”, “project”, “predict”,“potential”, or “continue” or the negative of these terms orother comparable terminology. These statements speak only as of thedate of this news release. This news release may also containinferences to future oriented financial information (“FOFI”)within the meaning of applicable securities laws. The information inthis news release has been prepared by our management to providereaders with an outlook for our future activities, and addresses theanticipated key roles to be filled following certain executivepersonnel changes.
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