NRRSF - Norsemont Mining Appoints Marc Levy as Chairman and CEO
(TheNewswire)
Vancouver, B.C. - TheNewswire - September 21, 2020 - Norsemont Mining Inc.(CSE:NOM ) (CNSX:NOM.CN) ( OTC:NRRSF ) ( FWB:LXZ1) (the " Company ") ispleased to announce the appointment of Mr. Marc Levy as ChiefExecutive Officer and Chairman of the board.
Mr. Levy was the founder and former CEO and Chairman ofNorsemont Mining (TSX: NOM), which he grew from a marketcapitalization of $1 Million (CAD) and subsequently sold to HudbayMinerals Inc. (TSX: HBM) for $520 Million (CAD). He has raised over$200 Million (CAD) in the resource, agriculture and technologysectors. He brings over 30 years of management and leadershipexperience in the public markets.
Mr. Levy has been involved in several successfulcompany exits, including Petaquilla Minerals (TSX: PTQ), sold to InmetMining for $350 Million (CAD) and Coal Hunter Resources to CarderoGroup for $52 Million (CAD). Recently, he was founder of AuroraCannabis (TSX: ACB), which grew from a market capitalization of $1Million (CAD) to approximately $800 Million (CAD) within two years andpeaked at a market capitalization of $16 Billion (CAD). Mr. Levy was afounder and director of Payfirma Corp., which was sold to MerccoPayments Inc.
Mr. Levy is involved in various charitableorganizations such as: cystic fibrosis, B.C. Children's Hospital, St.Paul's Hospital, CJA Canada, C.H.I.L.D. Foundation, Westminster Houseand Chabad UBC.
The Company would like to thank Mr. Larmour for hisdedication and service over the last several months. Mr. Larmour hasresigned from the position of CEO and will remain as a director of thecompany.
Marc Levy, CEO of Norsemont said, "I am pleased toassume the role of CEO and Chairman of Norsemont Mining, I lookforward to working with some of the same team who were instrumental inselling the Constancia project to Hudbay Minerals and our newestadditions to the team who add significant expertise and value inunlocking Choquelimpie's significant upside potential."
Allan Lamour, Director of Norsemontsaid, "Norsemont continues to strengthen its board and managementteam with the goal of accelerating the development of its Choquelimpieproject."
The company also announces it has granted stock option agreements to itsdirectors, officers and consultants for the right to purchase up to400,000 common shares of the Company, exercisable at the price of$2.24 per share for five years, subject to regulatory approval.
Digital marketing agreement
The company has entered into a digitalmarketing agreement with Gold Standard Media LLC., a Texas company.The agreement is for an initial term of twelve months at a cost of$400,000 USD. Gold Standard Media will provide financial publishing,digital marketing services and will raise public awareness of thecompany.
On behalf of the Board of Directors,
NORSEMONT MININGINC.
Allan Larmour
Director
For more information, please contactthe Company at:
Telephone: (604) 669-9788;Facsimile: (604) 669-9768
Forward-looking Statements:
This news releasecontains forward-looking statements and forward-looking information(collectively, "forward-looking statements") within themeaning of applicable Canadian legislation. All statements in thisnews release that are not purely historical are forward-lookingstatements and include statements regarding beliefs, plans,expectations and orientations regarding the future including, withoutlimitation, the intended use of proceeds of the Private Placement. Although the Company believes that such statements are reasonable andreflect expectations of future developments and other factors whichmanagement believes to be reasonable and relevant, the Company cangive no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as:"believes", "expects", "anticipates","intends", "estimates", "plans","may", "should", "would","will", "potential", "scheduled" orvariations of such words and phrases and similar expressions, which,by their nature, refer to future events or results that may, could,would, might or will occur or be taken or achieved. In making theforward-looking statements in this news release, the Company hasapplied several material assumptions.
Forward-lookingstatements involve known and unknown risks, uncertainties and otherfactors which may cause the actual results, performance orachievements of the Company to differ materially from any futureresults, performance or achievements expressed or implied by theforward-looking information. Such risks and other factors include theinability of the Company to execute its proposed business plan andcarry out planned future activities. The novel coronavirus andCOVID-19 pose new risks that are currently indescribable andimmeasurable. Other factors may also adversely affect the futureresults or performance of the Company, including general economic,market or business conditions, the future price of gold, changes inthe financial markets and in the demand for gold, changes in laws,regulations and policies affecting the mineral exploration industry,as well as the risks and uncertainties which are more fully describedin the Company's annual and quarterly management's discussion andanalysis and in other filings made by the Company with Canadiansecurities regulatory authorities under the Company's profile atwww.sedar.com. Readers are cautioned that forward-looking statementsare not guarantees of future performance or events and, accordingly,are cautioned not to put undue reliance on forward-looking statementsdue to the inherent uncertainty of such statements.
Theseforward-looking statements are made as of the date of this newsrelease and, unless required by applicable law, the Company assumes noobligation to update the forward-looking statements or to update thereasons why actual results could differ from those projected in theseforward-looking statements.
Neither the CanadianSecurities Exchange nor its Regulation Services Provider (as that termis defined in the policies of the Canadian Securities Exchange)accepts responsibility for the adequacy or accuracy of this release.No stock exchange, securities commission or other regulatory authorityhas approved or disapproved the information contained herein.
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