TORONTO, ONTARIO–(Marketwired – Feb. 8, 2016) – Kombat Copper Inc. (TSX VENTURE:KBT) (“Kombat Copper” or the “Company”), announces that a number of strategic changes to its management team have been implemented.
Paul Bozoki, C.A., former CFO of Kombat Copper, has been appointed President and CEO and has joined the Board of Directors. Mr. Bozoki is a Chartered Accountant and holds an MBA from the Richard Ivey School of Business. He has over twenty years of experience working with development stage companies and has recently been involved with projects in Zimbabwe, Mozambique and the Democratic Republic of Congo. Mr. Bozoki brings a wealth of financial and negotiating experience to the Company, which will greatly assist as the Kombat Mine moves forward to becoming a producer within the next year. A replacement CFO will be announced once an appointment is made.
Bill Nielsen has stepped down as President and CEO of the Company but will remain on the Board and will maintain a relationship with Kombat as a technical consultant.
Les Kwasik, BSc. has been appointed Chief Operating Officer of the Company. He has a degree in Electrometallurgical Engineering and brings over 40 years of mine management, production and development experience on a world-wide basis, which will be instrumental in bringing Kombat Mine back into production efficiently and on a timely basis. He has worked at length on mining projects in Indonesia, Canada, U.S.A., Colombia and Saudi Arabia and has a reputation of efficiency and cost effectiveness. Mr. Kwasik will be based in Namibia for the initial stages of the production project.
Damian Lopez, J.D., will take over the position of Corporate Secretary and Legal Counsel as Christine Gallo, J.D., has resigned her position.
Justin Reid, Chairman of Kombat Copper commented: “The changes we’ve made to Kombat’s Board and management team strengthens the Company’s position as a near-term producer and brings forward an operationally and financially focused team as we move forward into production. We are entering a very exciting time at Kombat and the team is now in place to execute our vision. We look forward to updating the market further shortly.” I would like to thank Bill Nielsen for his commitment as President and CEO and look forward to continue our work together on the Board of Directors. I would also like to thank Christine Gallo and wish her the best on her future endeavors.”
Qualified Person
F. W. Nielsen, P.Geo., of Kombat Copper, is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.
About Kombat Copper
Kombat Copper is a publicly traded Canadian exploration and development company with its core operations focused on copper resources in Namibia, one of the world’s most prospective copper regions, where it has substantial assets in place with significant upside.
The Company holds an 80% interest in five mining licenses in the Otavi Mountainlands, an area of Namibia particularly known for its high-grade copper deposits. Within these licenses are three past-producing mines including the Company’s flagship property, the past-producing Kombat Mine. The Kombat Mine’s extensive infrastructure includes an 800 m production shaft which was opened in 2006, two additional recently-operational shafts, three ramp systems, extensive underground workings, mine buildings, a tailings facility, a mill and concentrator. The Kombat Mine opened in 1962 and historically produced 12.46 million tonnes of ore grading 2.62% copper over a period of 45 years. It is linked to vital existing infrastructure, including power, water, roads, and rail with close proximity to the port of Walvis Bay and to one of only five commercial-grade smelters in Africa located in Tsumeb, located 100 road kilometers away from Kombat.
Cautionary Notes
Neither 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.
This news release may contain forward-looking statements. These statements include statements regarding the drill program, possible mineralization and deposits, the anticipated timeline regarding future exploration work, availability of results and production, the Company’s expectations regarding mineral resources, the Company’s expectations regarding entering into a definitive agreement for production of lead mineralization from the Kombat Mine and potential development work and the Company’s plans for the Kombat Mine, including its dewatering and any financial impact. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
