TORONTO, ONTARIO--(Marketwired - March 17, 2015) - Probe Metals Inc. (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to announce that its common shares will commence trading on the TSX Venture Exchange today under the trading ticker symbol "PRB" following the completion of the plan of Arrangement involving the Company, Probe Mines Limited ("Probe Mines"), Goldcorp Inc. ("Goldcorp") and 2426854 Ontario Inc. (the "Arrangement").
Probe Metals Inc., a Canadian precious metal exploration company, was formed following the acquisition of Probe Mines by Goldcorp pursuant to the Arrangement, which retains approximately 19.7% in the Company. With a strong treasury, the Company is focused on executing a business model inspired by its award-winning predecessor Probe Mines, namely the acquisition and growth of quality projects through effective exploration and development. Probe Metals' portfolio of properties currently includes a 100% interest in the Black Creek chromite deposit located in the Ring of Fire in Northern Ontario.
For further information with respect to the Arrangement, please refer to Probe Mines' Management Information Circular, dated February 9, 2015 (the "Circular") and posted on SEDAR (www.sedar.com) under Probe Mines' SEDAR profile. The Circular is also filed under the Company's SEDAR profile. Appendix F to the Circular contains information relating to the Company and its business operations.
The Company is guided by an experienced board and management team, all of whom made the transition from Probe Mines Limited.
Jamie Sokalsky, Chairman of the Board
Mr. Sokalsky brought over 20 years of experience as a senior executive in the mining industry, including finance, corporate strategy, project development and mergers and acquisitions, when he joined Probe Mines in 2014. Mr. Sokalsky was President and Chief Executive Officer of Barrick Gold Corporation from June 2012 to September 2014 and Chief Financial Officer from 1999 to 2012, prior to which he worked in various other senior finance roles.
Dr. David Palmer, President and CEO
Dr. David Palmer has over 25 years of experience as an exploration geologist in the Canadian and international mining industry. Prior to the formation of Probe Metals, Dr. Palmer was part of the successful team at Probe Mines that was responsible for two major mineral discoveries, including the multi-million ounce Borden Gold deposit acquired by Goldcorp in 2015. In addition to working extensively throughout Canada, he has a broad range of experience in a variety of commodities in South America, South Africa, India, Greenland and Scandinavia.
Yves Dessureault, Chief Operating Officer
As the main consultant on the Borden Gold Project since 2012, Mr. Dessureault officially joined Probe Mines in 2014. He brings over 25 years of international mining experience in operations, consulting and engineering with a focus in the last 15 years on project evaluation, development and execution. Mr. Dessureault previously held leadership positions with Rio Tinto PLC and Hatch Ltd., and more recently was a partner at BBA Inc. where he led their Toronto operations. At BBA and Hatch, he was responsible for managing engineering projects, especially in the area of project development or feasibility studies for mining clients including Rio Tinto PLC, Sherwood Copper Corp., Teck Resources Limited and Potash Corp. Throughout his career, he managed development of greenfield and brownfield projects valued between C$110 million and C$1,200 million, and covered many commodities including gold.
Patrick Langlois, Vice President, Corporate Development
Upon joining Probe Mines in 2012, Mr. Langlois had over 15 years of corporate development, venture capital and investment banking experience. His extensive investment banking background, with a focus on the mining sector, included past roles such as Director of Investment Banking at Stonecap Securities and Managing Director of Investment Banking at Laurentian Bank Securities. During this time, Mr. Langlois advised senior management teams on numerous mergers and acquisitions and corporate finance transactions. He has successfully conducted over 100 transactions of corporate and project financings, directly raising in excess of $2.0 billion.
Carmelo Marrelli, Chief Financial Officer
A Chartered Professional Accountant, Carmelo Marrelli is also a member of the Institute of Chartered Secretaries and Administrators of Canada and holds a Bachelor of Commerce degree. He has been the CFO of Probe Mines since 2008. He has experience in auditing and investment accounting, and as principal of Marrelli Support Services Inc., he directs and oversees the accounting function for the Group and its clients. Mr. Marrelli is also the Chief Financial Officer of several other public junior mining companies.
Dennis Peterson, Corporate Secretary, Director
A Director of Probe Mines since 2001, Mr. Peterson has 20 years of experience as a corporate securities lawyer specializing in corporate finance matters for small cap companies. Most of Mr. Peterson's practice focuses on junior natural resource companies, and he has extensive experience with all aspects of prospectus financings, private placements, mergers and acquisitions in the junior public markets. Companies he has worked with are listed on the Toronto Stock Exchange and the TSX Venture Exchange.
Gordon McCreary, Director
Mr. McCreary, a Mining Engineer with an MBA, has over 40 years of experience in the mining and exploration industry with 25 years focused on gold. He joined the board of Probe Mines in 2012. He is the past President/CEO of Castle Mountain Mining Company Limited, a gold exploration and development company focused on the restart of a heap leach project in California. Mr. McCreary is also the past President/CEO and Director of Baffinland Iron Mines Corporation, a company that he co-founded and advanced to the cusp of development before it was taken-over for $600 million by ArcelorMittal, the largest steel company in the world. His previous roles included being a founding officer of Kinross Gold Corporation where he served for 11 years as Vice President Corporate Development and Investor Relations and a combined 5 years as Vice President of Dundee Bancorp Inc. and Investment Analyst with affiliate Corona Corporation.
Basil Haymann, Director
A director of Probe Mines since 2013, Mr. Haymann has 50 years of experience founding and taking companies to top levels of success in their industries. His strategic vision, creativity, and ability to attract highly skilled and very talented people have enabled him to build businesses as diverse as precious metals and gems, fabric structures, and high-speed 3D laser imaging technology. Mr. Haymann is a serially successful entrepreneur who has excelled, not only in bringing new products to market; but also in quick turnaround of unprofitable businesses, acquisition of competitors, and sale of his successful companies, as he moved on to new challenges. Recently, he founded D4D Technologies, LLC, in 2002, which developed 3-D laser technology for dentistry and served as Chairman and CEO; in 2009, he founded Guard-All Building Solutions Ltd., and is currently the Chairman of the Board. In 2014, Mr. Haymann acquired and was appointed Chairman of the Board of FabriTec Structures, LLC.
On behalf of Probe Metals Inc.,
Dr. David Palmer, President & Chief Executive Officer
Forward-Looking Statements
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 includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.
Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Shares Issued: 31,368,363