Appoints New Directors and Senior Officers
posted on Feb 27, 2009 03:44AM
Edit this title from the Fast Facts Section
|February 26, 2009|
|Frontera Copper Corporation Appoints New Directors and Senior Officers|
|VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2009) - Bryan Nethery, interim CEO of Frontera Copper Corp. (TSX:FCC) ("Frontera") announced today the appointment of a new board of directors consequent upon the successful take-over bid of Frontera by Invecture Group SA de CV announced February 17th, 2009. The new board replaces all previous directors and now comprises four directors all of whom are experienced mining professionals and residents of Canada. Mr. Mark Distler, the former controller has been appointed interim-CFO.
Mr. Bryan Nethery, P.Eng., holds a degree in metallurgical engineering and has over 30 years of domestic and international senior management and metallurgical engineering experience. He has managed the design, construction, and start-up of numerous mining projects including: Louvicourt, Marigold, Porco, and the $350M Pogo Gold Mine in Alaska. From 1994-2005 he was a Vice President with AMEC, international consulting engineers to the mining industry. Fluent in Spanish, Bryan has led numerous major feasibility studies including the Lomas Bayas copper heap leach SX/EW in Chile and has served as a director or officer of several mining companies.
Mr. Steve Vanry, CFA is a Chartered Financial Analyst and serves as the President of TSX listed Golden Predator Mines subsequent to its recent merger with Fury Explorations. Mr. Vanry has 18 years experience managing and financing natural resource companies, including 3 years in charge of financial operations at Cumberland Resources Ltd. Steve will serve as corporate secretary of Frontera and he also serves in management with several other resource companies.
Rene G. Carrier is a former executive of a regional Canadian securities dealer and for the last 17 years has been active in the financing and management of public resource companies. Rene has served as a director of South African diamond producer Rockwell Diamonds Inc, as a director of Continental Minerals Corporation and several other public mining companies.
Gordon J. Fretwell, LL.B., Gordon was formerly a partner in a large Vancouver law firm but since 1991, been a self-employed mining lawyer and mining executive. He has recently served as a director of Northern Dynasty Minerals Ltd. Continental Minerals Corporation and Keegan Resources Inc., Bell Resources Corporation Corp amongst others.
Other Corporate Matters
Frontera will continue to operate out of its Phoenix Arizona office for the immediate future however, Frontera's registered office will be changing to 1500 - 1055 West Georgia, Vancouver BC, Canada V6E 4N7, in the immediate future.
The Board notes that the take-over bid for common shares of Frontera by Invecture Group SA de CV remains open at C$0.75 per share until 4:30 PM Vancouver time on March 4th, 2009. Frontera confirms that the Support Agreement with Southern Copper has been fully terminated and Invecture holds a 68% controlling position in Frontera.
The continued listing of Frontera's common shares on the TSX remains subject to the Company continuing to meet minimum share distribution rules and accordingly continued trading of the common shares on the TSX can not be assured. Frontera's listed notes are expected to continue to trade on the TSX uninterrupted. The Board is expecting to recommend a second stage compulsory acquisition transaction in the near future as Invecture has expressed its intention to seek 100% ownership of Frontera's common shares.
Bryan Nethery, Chief Executive Officer (Interim)