Zinco Do Brasil Director Edward C. Dowling Jr. And Zinco Do Brasil Shareholder Lidya Madencilik (Calik Holding) Participate In Equity Financing At $1.50 Per Share
NEW YORK, April 10, 2013 /PRNewswire/ -- Zinco do Brasil Inc. (OTCQB: ZNBR) (the "Company") is pleased to announce that its Director Edward C. Dowling Jr. and existing shareholder Lidya Madencilik (fully owned subsidiary of Calik Holding) have subscribed for a second tranche of $500,000 in the Company's current equity financing at $1.50 per share. Both shareholders have indicated interest to participate in future financing rounds, making their participation subject to the Company hiring an experienced mining CEO and achieving financing from other sources to advance the project, which the Company believes to announce shortly.
Zinco do Brasil Chairman and CEO Ryan E. Hart commented: "There is no greater act of confidence and proof of commitment to a company and its strategy than its board members investing their own money." Hart continued: "This is a very strong signal to the Company's shareholders and the market, that its board members and existing shareholders are fully committed to making the Company a great success."
About Edward C. Dowling Jr.:
Mr. Dowling retired as President & CEO of Alacer Gold Corp. in July 2012, which he joined in 2008 after a successful tenure as CEO and President of Meridian Gold Inc. Mr. Dowling has 30 years of mining experience and held leadership roles with: De Beers, Johannesburg, South Africa, as Executive Director for Mining and Exploration; Cleveland-Cliffs as Executive Vice-President of Operations; and Cyprus Amax Minerals Company in various leadership capacities.Mr. Dowling holds a Bachelor of Science in Mining Engineering, a Master of Science and a Ph.D. in Mineral Processing, all granted from the Pennsylvania State University, and is recognized in the industry for his ability to assemble and motivate teams of people to tackle and deliver challenging projects for creation of long-term value. About Lidya Madencilik Founded in 2006, Lidya Madencilik is a fully owned subsidiary of Calik Holding, operating in the fields of metals and precious metals in Turkey, with a strong focus on gold and copper. Lidya owns a 20% share of Anagold, a joint venture of Alacer Gold and Lidya, which produced 188,756 ounces of gold in 2012. Providing employment for 700 people in the Copler Gold Mine, including locals from Ilic and the villages in the vicinity, Anagold achieved a turnover of 318 million USD in 2012. The Copler gold mine holds the second largest gold reserve in Turkey with reserves of 4.6 million ounces of gold. Anagold expected and targets to produce 220,000 ounces of gold in 2012. In 2011 Lidya Madencilik concluded a fifty-fifty partnership with Alacer Gold for 16 new mining projects in Turkey. In line with the new partnership, both Companies agreed on Kurudere Madencilik, a subsidiary of Alacer Gold, to be the operator for Tuncpinar Madencilik, owner of copper fields in Tunceli, and for Kartaltepe Mining, owner of copper/gold fields in the Erzincan area, while Lidya Madencilik to be the operator of Polimetal Madencilik that owns the other 12 fields issued under fifty-fifty partnership. Lidya intends to increase its activities as an operator as well as an investor in the Turkish mining industry. These sites of different metals in different provinces of Turkey are expected to play a major role in Lidya Madencilik's investment and growth plans in the near future. About Calik Holding Calik Holding's foundation was laid by Mr. Ahmet Calik in 1981, a member of the Calik Family, whose commercial activities date back to the 1930s. Today, Calik Holding employs more than 20,000 people in its business enterprises in 16 countries within the sectors of energy, telecom, textile, construction, finance, media, and mining. Calik Holding, operating in a region extending from Central Asia to North Africa and from Middle East to the Balkans, has approximately 3 billion USD annual turnover. The Group's consolidated asset size is approximately 7 billion USD and is currently working on project portfolio worth 20 billion USD. As a result of its active involvement in the domestic and foreign tenders, Calik Group has incorporated Albtelecom, the land line operator and internet supplier of Albania in 2007, the Turkuvaz Media Group, one of the two largest media enterprises of Turkey in 2008, and Yesilirmak Electricity Distribution Inc. (YEDAS), with electric distribution in 5 major cities of Turkey in 2010, and has recently begun to construct two power plants with a combined 2,000 MW generation capacity in Iraq. Calik Holding has become one of the leading Turkish investors in Central Asia and the Balkans as well as one of the largest employers in Turkey. Calik Holding has established international collaborations with many global and prestigious companies such as Rosneft, Initec Energia, Eni, Mitsubishi, EBRD, EWE, General Electric, Alacer Gold, Qatar Holding and Turk Telekom. The Group makes the best of combining the entrepreneurial and productive qualities of its rich corporate culture to remain among the leading and prevailing actors in its primary business fields.
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