January 21, 2016
Norvista Capital Corporation ("Norvista" or the “Company”) (TSX-V:NVV) is pleased to announce the appointment of Darren Koningen, P.Eng. to the Board of Directors.
Darren, who has over 20 years of international mining experience and was instrumental in bringing three gold projects into production is currently the President and Director of Minera Alamos Inc., one of Norvista’s investee companies. Concurrent with the appointment of Mr. Koningen, the Company announces the resignation of Rob Sobey who has been a director of Norvista since its inception. Stan Spavold, Chairman of Norvista, stated “Rob’s objectives in accepting his role as a director was to assist Norvista in the formative stages of building its investment portfolio and to provide strategic guidance to senior management. Rob feels these objectives have been met and he looks forward to supporting Norvista as a significant investor”.
Norvista is a resource based merchant bank that began operations and was listed for trading on the TSX Venture Exchange in June of 2014. The Company’s strategy is to capitalize on the significant asset value contraction that has occurred over the last several years in the resource industry, with particular emphasis on base metal projects. Norvista focuses its efforts on the pursuit of highly prospective exploration stage projects while balancing exploration risk through investment in small to mid-scale, pre-production, projects requiring partial or full completion of feasibility studies. The Company takes a proactive role with its investee companies and in the majority of cases assumes management or advisory roles and/or seats on the board of directors of these investee companies. Management is of the view that current market conditions allow the Company to significantly mitigate political and country risk by pursuing investments in some of the world’s top ranked mining jurisdictions. Since inception Norvista has completed four strategic investments. The Company owns a 10.3% undiluted ownership interest in Nevada Zinc Corporation (TSX-V: NZN) the owner of the highly prospective Lone Mountain zinc exploration project in Eureka, Nevada. Management of Norvista hold senior officer positions as well as board seats at Nevada Zinc. Nevada Zinc recently purchased the Mountain View mine, a past producing zinc mine in the centre of the Lone Mountain property. Nevada Zinc has completed three drill programs on the Lone Mountain property to-date. The assay results from all three drill programs have been very positive. The Company also owns a 19.9%, fully diluted ownership interest in Minera Alamos Inc. (TSX-V: MAI) the owner of an open pit, high-grade copper/molybdenum project in Sonora, Mexico. Minera Alamos is targeting a 2016 mine construction start date for its Los Verdes project. The Company is actively involved in Minera Alamos through its board representation.
Norvista owns an 80% undiluted ownership interest in Akuna Minerals Inc., a private company with a small scale, pre-production, high-grade copper project in northern Manitoba. Norvista’s investment in Akuna funded the acquisition of the property and will assist in the funding of the cost of the feasibility study on the project that is scheduled to commence construction in 2016 and begin production in 2017. The Company also has a smaller investment in Petrowolf, LLC, a private oil and gas exploration company that has assembled a significant land holding in the Permian Basin in Texas funded from the proceeds of the initial financing subscribed to by Norvista.
Petrowolf recently closed a U.S.$7MM second round financing in order to fund its initial drill program in Q1 of 2016 and acquire additional exploration property. For further information contact:
Norvista Capital Corporation
141 Adelaide Street West, Suite 1660
Toronto, Ontario M5H 3L5
Tel: (416) 504-4171
Don Christie, President and CEO
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information that is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that 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 statements made herein with respect to, among other things, the Company’s objectives, goals or future plans, potential corporate and/or share acquisitions, exploration results, potential mineralization, exploration and mine development plans with respect to the Company’s investee companies, 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, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, 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, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Company’s public disclosure documents filed on SEDAR. Although the Company believes that management’s assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the investee companies will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management’s expectations, financing will be available to such companies on favourable terms when required, and commodity prices and foreign exchange rates will remain relatively stable. 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 contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.