CALGARY, ALBERTA, Jun 09, 2017 (Marketwired via COMTEX) — CALGARY, ALBERTA–(Marketwired – June 9, 2017) – BACANORA MINERALS LTD. ("Bacanora" or the "Company") (BCN)(aim:BCN), the Canadian and London listed lithium exploration and development company, is pleased to announce the formal appointment of Dr. Andres Antonius and Mr. Junichi Tomono to the Board as Non-Executive Directors.
As noted in the announcement dated 15 May 2017, following approval by the Board of Bacanora the appointments were subject to the completion of standard regulatory reviews in accordance with the AIM Rules for Companies. These reviews have now been completed. As a result, the appointment to the Board of both Dr. Antonius, a Mexican national who has held positions in the Government of Mexico, the private sector and academia, and Mr. Tomono, head of the Speciality Metals and Alloys department of leading Japan-based global trading company Hanwa Co., LTD. ("Hanwa"), will now take full effect. There are no additions or changes to the information disclosed on Dr. Antonius and Mr. Tomono in the announcement dated 15 May 2017 which is required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.
The Board appointments are in line with the Company's focus on developing its Sonora Project ("Sonora" or the "Project") in Mexico into a world class lithium carbonate ("Li2CO3") operation. A Full Feasibility Study for Sonora is on course for completion in Q4 2017. Subject to positive results of the Feasibility Study, the Company anticipates commissioning an operation in 2019 capable of delivering 17,500 tonnes per year of battery-grade Li2CO3 for the first two years and 35,000 tonnes Li2CO3 per year thereafter. Mr. Tomono's appointment to the Board follows the signing of a strategic partnership and offtake agreement for Sonora with Hanwa, which also saw Hanwa acquire an initial 10% interest in Bacanora following a private placement.
Mark Hohnen, Chairman of Bacanora commented, "Dr. Antonius and Mr. Tomono each have their own highly specialized skillset and experience which complement those of the existing Board members and management team well. I look forward to working with them closely going forward, as we focus on completing the Sonora feasibility study later this year, the results of which we expect will further support the Project's potential to become a major supplier to the rapidly growing global market for lithium products for many years to come."
ABOUT BACANORA:
Bacanora is a Canadian and London listed lithium exploration and development company (BCN)(aim:BCN). The Company is exploring for, and developing a pipeline of international lithium projects, with a primary focus on the Sonora Lithium Project. The Company's operations are based in Hermosillo in northern Mexico. The Company is led by a team with lithium expertise and proven mine development, construction and operations experience.
Original Article: http://www.marketwatch.com/story/bacanora-announces-formal-appointment-of-non-executive-directors-2017-06-09-91602253
