TSX Venture: NKL
TORONTO, Dec. 16, 2019 /CNW/ - Conic Metals Corp.
("Conic" or the "Company") (TSXV: NKL)
announced today that it will begin an initiative that aims to
obtain an ESG rating for the Company and the appointment of Ms.
Candace MacGibbon to the board of
directors of the Company (the "Board of Directors"),
effective immediately.
Environmental, social, and governance ("ESG") are the
three primary components of measuring the sustainability and
ethical impact of an investment. The lack of information on the
environmental and social policies and governance practices in the
mining industry is an ongoing problem. The Company recognizes that
greater transparency on the ESG practices of companies within the
industry is needed. Conic is committed to understanding ESG
principles and integrating ESG criteria in its operations and
strategic plans in order to create value for shareholders in a
sustainable way. As part of this ESG initiative, the Company
intends to engage consultants to assist with the creation of a
corporate framework to operate within ESG principles in
anticipation of seeking a rating from one of the various ESG rating
agencies next year.
"We are excited to welcome Candace
MacGibbon to the Board of Directors," commented Justin Cochrane, Conic's President & Chief
Executive Officer. "Her extensive background in commercial and
corporate governance matters, coupled with her years of experience
in the global mining and metals sector, will be of tremendous
benefit to the Board of Directors as we work to advance Conic's
strategic objectives."
Ms. MacGibbon is a CPA, CA with over 25 years of experience in
the mining sector and capital markets. She is currently the
CEO of INV Metals Inc., a Canadian mineral resource company focused
on the development and exploration of the Loma Larga gold property
in Ecuador. Ms. MacGibbon has a deep understanding of the
capital markets as a result of her previous employment as a global
mining institutional salesperson with RBC Capital Markets and in
base metals research as a mining associate with BMO Capital
Markets. Ms. MacGibbon is a Chartered Professional Accountant and
her financial and accounting experience includes her previous role
as CFO of INV Metals Inc., as well as her prior employment with
Deloitte LLP. Ms. MacGibbon is a graduate of the University of Western Ontario and Sir Wilfred
Laurier University.
With Ms. MacGibbon now appointed to the Board of Directors, the
Company has now finalized the members of each of the Board's fully
independent committees. Ms. MacGibbon will chair the Company's
Audit Committee, Mr. Maurice Swan
will chair the Company's Nominating & Corporate Governance
Committee and Mr. Philip Williams
will chair the Company's Compensation Committee.
Corporate
The Company has granted an aggregate of 6,440,000 incentive
stock options and restricted share units ("RSUs") to certain
of its directors, officers, advisers and consultants pursuant to
the Company's existing omnibus long-term incentive plan. The
incentive stock options granted are exercisable at $0.43 per share for a period of five years
expiring December 16, 2024.
Following the award of stock options and RSUs, the Company
currently has an aggregate of 6,440,000 options and RSUs issued and
outstanding, representing approximately 7.7 per cent of its issued
and outstanding share capital.
About Conic
Conic Metals Corp. is a base metals company offering direct
exposure to nickel and cobalt, both being critical elements of
electric vehicles and energy storage systems. Conic holds an 8.56%
joint-venture interest in the producing, long-life and world-class
Ramu Nickel-Cobalt Operation located in Papua New Guinea which provides Conic with
significant attributable nickel and cobalt production. In addition,
Conic manages a portfolio of 11 nickel and cobalt royalties on
development and exploration projects in Canada and Australia. Conic will continue to invest in a
battery metals-focused portfolio of streams, royalties and direct
interest in mineral properties containing battery metals. For more
information, see Conic's website at www.conicmetals.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information which constitutes
'forward-looking statements' and 'forward-looking information'
within the meaning of applicable Canadian securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward looking statements are often identified by
terms such as "may", "should", "anticipate", "expect", "potential",
"believe", "intend" or the negative of these terms and similar
expressions. Readers are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements involve
known and unknown risks and uncertainties, most of which are beyond
the Company's control. Should one or more of the risks or
uncertainties underlying these forward-looking statements
materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results, performance or
achievements could vary materially from those expressed or implied
by the forward-looking statements.
The forward-looking statements contained herein are made as of
the date of this release and, other than as required by applicable
securities laws, the Company does not assume any obligation to
update or revise them to reflect new events or circumstances. The
forward-looking statements contained in this release are expressly
qualified by this cautionary statement.
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. No securities regulatory authority has
either approved or disapproved of the contents of this news
release.
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SOURCE Conic Metals Corp.