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NVRO Metals Limited (TSXV: NVRO | OTCQB: ESGLF | FSE: YGK) ("NVRO" or the "Company") announces its planned management and governance transition as the Company continues to mature and position itself for its next phase of growth. NVRO is transitioning to a CEO-led management structure supported by a fully non-executive Board.
As part of this planned transition, Executive Chair David Cam will conclude his executive responsibilities with the Company and will not stand for re-election and Grant Freeman, Chief Executive Officer, will be standing for election at the upcoming Annual General and Special Meeting.
Mr. Cam's retirement follows a period of significant development for NVRO, during which the Company has strengthened its management team, advanced its strategy and established the platform for its next stage of growth.
Mr. Cam will enter into a Founder's Agreement with NVRO following his retirement, providing strategic advice and supporting the Company as it continues to execute its strategy.
"This transition is part of the evolution of NVRO as we have built the management and governance structure needed for the Company's next phase," said Mr. Cam.
"With Grant Freeman joining the Board and an established management team in place, NVRO is well positioned for the future. I believe that this is the right time for me to step away from executive and Board responsibilities and focus on my health and family. I am very proud of what we have achieved and excited about the opportunity ahead for NVRO. I am pleased to continue supporting the Company in an advisory capacity."
Paul McRae, Lead Independent Director and incoming Chair, added, "David has played a central role in the development of NVRO and in positioning the Company for the opportunities ahead. This transition reflects the maturity of the business and the management capability that has now been established. Grant and his team have delivered exceptional outcomes. The Board believes the move to a CEO-led management structure and fully non-executive Board is the appropriate structure for NVRO as it enters its next phase. We are pleased David has agreed to continue providing strategic support to the Company through his founder's role."
The Board thanks Mr. Cam for his leadership and contribution to NVRO and wishes him well in his retirement.
About NVRO Metals Limited
NVRO Metals Limited is a clean technology company focused on the recovery of precious, base and critical metals from refractory sulfidic ores, concentrates and tailings. The Company's proprietary NVRO Process™ is a catalyzed hybrid acid leach that operates at low temperature and near atmospheric pressure, using nitric acid in catalytic quantities to break sulfide bonds and liberate contained metals, with continuous regeneration and recycling of reagents. NVRO Metals is advancing the NVRO Metals Hub in the Northern Territory, Australia, alongside client programs and partnerships internationally.
For further information, please contact:
NVRO Metals Limited:
Grant Freeman, Chief Executive Officer
Paul McRae, Lead Independent Director
Investor Relations:
Neil Simon
Chief Executive Officer
Investor Cubed Inc.
T. +1 647 258 3310
Email: ir@nvrometals.com
Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements in this news release include, but are not limited to, statements regarding: the appointment of Mr. Cam as strategic advisor; his intention not to stand for re-election as a director; and the development of the NVRO Metals Hub and its progression to production.
Forward-looking statements are based on management's expectations, estimates and assumptions as of the date of this news release, including assumptions that the AGM will proceed on the date currently scheduled; that Mr. Cam will remain willing and able to act as strategic advisor; that required regulatory and Exchange acceptances will be obtained; and that the Company will have access to sufficient capital to advance its plans.
Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including: shareholder voting outcomes; the failure to obtain or maintain regulatory or Exchange acceptance; the risk that the advisory engagement may be terminated or may not deliver the expected benefit; technical, metallurgical and operational risks associated with the development of the NVRO Metals Hub; the availability of financing; changes in commodity prices and foreign exchange rates; and the risk factors described under the caption "Risks" in the Company's most recent Management Discussion and Analysis, available on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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.
