PRESS RELEASE February 10, 2016
Viscount Mining Announces Addition Of Seasoned Business Executive To Advisory Board
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”), is pleased to announce that business and mining executive Peter Espig has consented to join the Company’s advisory board.
Mr. Espig is active in the mining industry and has functioned in management roles and as a director for numerous mining companies. Mr. Espig is currently CEO and Director of Nicola Mining Inc. Mr. Espig is an experienced turnaround expert with a proven track record in multiple business sectors on a global scale, leveraging experience in the analysis of investment opportunities, raising capital, deal sourcing, financial structuring and growing businesses. Over the past ten years, Mr. Espig has structured over US$2.5 billion in private equity and pre-IPO investment transactions from the principal side.
Mr. Espig started his career in 1991 in Japan when he founded Mandalay Japan, a company that earned praise from institutions, such as the Yamanashi Chamber of Commerce and the Japan Consumer Products Review. Commencing in 2003, Mr. Espig served as Vice-President of the Principal Finance and Securitization Group and Asia Special Situations Group for Goldman Sachs Japan where he was active in deal sourcing, analyzing investment opportunities, balance sheet restructuring, corporate turnarounds, IPO’s, and exit preparations for various corporate and real estate investments in excess of JPY 375 billion.
In August 2006, Mr. Espig founded TriAsia Capital, a private equity and consulting firm focused on raising capital for mid-sized companies and pre-IPO investment and consulting. In December 2006, Mr. Espig then assumed the role of Global Head of Finance for TMT Co, Ltd., Taiwan. As TMT’s finance leader he was able to increase profit from $150 MM to in excess of $1.0 BN and oversaw more than 200 employees globally.
Mr. Kaare Foy, Viscount’s Chairman, said: “We are fortunate in having Peter join our team. His experience and talent will be invaluable to the Company in its rapid growth phase.”
Mr. Espig is considered one of Wall Street’s leading experts on SPACs (special acquisition company), including the incorporation of foreign issuer status, legal, structuring, and deSPACing process. He is considered to be a leading capital raiser on Wall Street since 2005. He has advised various groups, including: Renaissance Capital, Maxim Group, Dahlman Rose, Frontline, Goldman Sachs, and various commodity groups on cross-border M&A. Mr. Espig received a B.A. from the University of British Columbia and in 2003 received his MBA from Columbia Business School where he was honored as a Chazen Society International Scholar and published as an author.
As part of the appointment the Company will grant 100,000 stock options to Mr. Espig. The option grant will vest immediately. As per the Company’s Stock Option Plan, the options granted are exercisable until February 10, 2021. Grant of the options is subject to the approval of the TSX Venture Exchange.
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company’s website at www.viscountmining.com
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration, Inc. is a wholly-owned subsidiary of Sumitomo Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp/english/
ON BEHALF OF THE BOARD OF DIRECTORS
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
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 contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.