Ascendant Resources (TSXV:ASND) (“Ascendant” or the “Company“) (“Ascendant” or the “Company”) is pleased to announce the appointment of Ms. Petra Decher, CPA, CA to the Company’s Board of Directors and Mr. Stephen Shefsky to the position of Lead Director of the Board effective October 1, 2017.
Ms. Decher served as the Vice President, Finance and Assistant Secretary for Franco-Nevada Corporation from 2009 to 2016. She currently serves as Chairwoman of the Board at Red Pine Exploration Inc. and recently served as the Lead Independent Director of Integra Gold Corp. until its acquisition by Eldorado Gold Corporation. Prior to Franco-Nevada, Ms. Decher was President and Chief Financial Officer for Geoinformatics Exploration Inc., an exploration company focused on projects in British Columbia, Nevada, Mexico and Australia.
Ms. Decher is a Chartered Public Accountant, and is assuming the role of Chairwoman of the Audit Committee effective immediately. She has a Bachelor of Commerce degree from Concordia University, Diploma in Accounting at McGill University and articled at Richter Usher Vineberg (now Richter) in Montréal, Québec.
Mr. Shefsky has served on the Board of Directors of Ascendant Resources Inc. (formerly Morumbi Resources Inc.) for more than 10 years. Mr. Shefsky’s legal background has served well through his career of more than 40 years’ experience in the investment and mining industry throughout Canada, Latin America, and Africa. Mr. Shefsky is currently the President & CEO, Founder and Director of James Bay Resources Ltd. and his prior experience includes President & CEO of Verena Minerals Corp, now known as Belo Sun Mining Corp., Cancap Investments Ltd., and Brasoil do Brasil Exploracao Petrolifera S.A.
The Lead Director is a director independent of management and any controlling shareholder of the Company, appointed in circumstances where the Executive Chairman of the Board is not independent of management and any controlling shareholder. The primary responsibility of the Lead Director is to provide leadership for the independent directors and assist in managing any conflicts between the Company and any controlling shareholders.
Chris Buncic, President and CEO of Ascendant commented: “We are delighted to welcome Ms. Decher to the Board. Her thorough understanding of financial and public reporting and corporate governance will be a great asset to Ascendant moving forward as we continue to define a clear path to free cash flow. We are also grateful to have Mr. Shefsky step into the role of Lead Independent Director of Ascendant. His history with the Company, wealth of board and industry experience and legal background make him well suited to take on this role. We believe that these appointments further demonstrate the Company’s ongoing commitment to maintaining the highest standards of financial accountability and corporate governance.”
Mark Brennan, Executive Chairman of Ascendant commented: “On behalf of the entire Board, I am very pleased to welcome Ms. Decher to Ascendant’s Board of Directors and to have Mr. Shefsky assume the role of Lead Director. Ms. Decher’s diverse experience and financial expertise will complement our Board’s capabilities. These changes further poise the Company to continue to deliver operational excellence and long-term profitability.”
About Ascendant Resources
Ascendant Resources Inc. is a mining company focused on its producing zinc-lead-silver El Mochito Mine which has been in operation since 1948. Since acquiring the mine in December of 2016, Ascendant has increased throughput by more than 30%, has had success with its restarted exploration activities and has now achieved positive EBITDA as of July. With the price of zinc hitting a 10-year high, Ascendant is one of the few small cap pure play zinc producers benefitting from these improving zinc market fundamentals. For more information on Ascendant Resources, please visit our website at www.ascendantresources.com
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