VANCOUVER,
Dec. 10, 2013 /PRNewswire/ -
Western Pacific Resources Corp. ("Western Pacific" or the "Company")
(WRP - TSXV) is pleased to announce the intention
to appoint Mr. Oliver Rodz and Mr.
Lawrence Roulston to the Western
Pacific Board of Directors. The additions will happen
simultaneously with the closing of the proposed convertible debt
financing with the Quintana Minerals Corporation group of companies
("Quintana"), also announced today. A third director, still
to be named, will also be appointed at closing.
The Company welcomes the depth of experience
that both Mr. Rodz and Mr. Roulston will add to the Board.
Their extensive knowledge of the mining industry is expected to
play an important role in the on-going growth and development of
the Company. "The addition of Lawrence and Oliver will open many
doors for Western Pacific, both financial and technical. Their
wealth of experience will be a welcome addition to our team,"
Warwick Smith, CEO of Western Pacific, commented.
Oliver
Rodz
Oliver Rodz is an
energy and natural resources executive with an extensive background
in corporate and field operations, cross-border transactions,
M&A, portfolio management, and board governance. Mr. Rodz
joined Quintana Minerals Group ("QMC") in 2010, and serves it as a
Managing Director. Previously, Mr. Rodz was President of two
parallel ventures, Resource Ventures Inc., an energy and natural
resources advisory firm, and Renewable Resources Group, a developer
and operator of renewable energy processing plants. Mr. Rodz
started his professional career as a partner of Rogers & Rodz,
a law firm that advised clients on business ventures and
cross-border transactions in the energy industry throughout
Latin America. Mr. Rodz has
a B.A. in International Relations from the University of South Florida and a J.D. from
Northwestern School of Law at Lewis and Clark
College.
Lawrence
Roulston
Lawrence Roulston
is a mining analyst and past mining company executive with more
than 35 years of resource industry experience. Since 1998, he
has been a mining analyst and consultant, as well as the editor of
"Resource Opportunities", an independent investment publication
focused on the mining industry. Prior to this, Mr. Roulston
was an analyst or executive with various companies in the resource
industry, including the following: Analyst of Cominco Ltd., Senior
Analyst of McIntyre Mines Ltd., Manager of Pembina Resources, VP of
Ventures West Minerals, VP of Coromandel Resources Ltd., a mineral
exploration company, President of Canmex Minerals Corp., and VP and
Director of the Mintax Group, a mining investment fund. Mr.
Roulston holds a B.Sc. in geology and has additional training in
engineering and business from the University
of British Columbia.
Mr. Michael
Williams and Mr. Ralph
Rushton will be resigning upon the closing of the
convertible debt financing. The Company would like to thank Mr.
Williams and Mr. Rushton for their services to the Board and wish
them the best of luck on their future endeavors.
About Western Pacific Resources Corp.
Western Pacific is
focused on advancing a strong portfolio of projects in the
Western United States, including
the Deer Trail Mine in Piute County,
Utah. Western Pacific's team is led by technical and
financial experts who aim to succeed in creating shareholder value.
For more information, please visit our website at
www.westernpacificresources.com.
About Quintana Minerals Corporation
Quintana Minerals Corporation ("QMC") is the
management company for a portfolio of energy and natural
resources-based private and publicly-traded companies controlled
and/or operated by the Corbin J. Robertson Jr. family. The
company was formed in 1963 as a division of Quintana Petroleum
Corp. and has actively developed and operated precious and
industrial metals/minerals projects throughout the Americas.
The following are examples of some the group's on-going ventures:
Natural Resource Partners L.P., a publicly traded MLP (NYSE: NRP);
Great Northern Properties L.P., a private company that holds over
22 billion tons of coal reserves; Corsa Coal Corp., a publicly
traded junior mining company (TSXV: CSO); Quintana Energy Partners,
L.P., an energy-focused private equity fund; and Quintana Shipping
Ltd., the group's 2nd dry bulk shipping venture. For
more information please contact Oliver
Rodz, Managing Director of QMC, 601 Jefferson Street, Suite
3600, Houston, Texas 77002 (tel:
713-751-7500).
ON BEHALF OF THE BOARD
Warwick Smith, Chief Executive
Officer
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.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements contained in this press
release constitute forward-looking statements within the meaning of
Canadian securities legislation. Forward-looking statements
contained in this news release include, without limitation,
statements in respect of the closing of the DTM Acquisition, the
closing of the proposed Financing and future payments and purchases
of Base Metals pursuant to the Streaming Transaction with
Quintana. These statements relate to future events, business
prospects or opportunities and product development. All such
statements other than statements of historical fact are
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as "seek",
"anticipate", "plan", "continue", "estimate", "expect, "may",
"will", "project", "predict", "potential", "targeting", "intend",
"could", "might", "should", "believe" and similar expressions. The
Company believes that the expectations reflected in those
forward-looking statements are reasonable, but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon. Actual
results and developments may differ, and may differ materially,
from those expressed or implied by the forward-looking statements
contained in this news release.
Forward-looking statements involve known and
unknown risks, uncertainties, assumptions of management and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statement, including but not limited to: (a) the conditions to
closing of the DTM Acquisition not being met; (b) the Company being
unable to meet the milestones for purchases of Secured Notes under
the Investment Agreement; (c) the company being unable to obtain
TSXV or disinterested shareholder approval of the Financing or
Streaming Transaction; (d) the Company being unable to raise
additional fund to finance the development of the DTM Project; (e)
the Company being unable to comply with the conditions to advances
to the Upfront Payment under the BMPA; (f) risks associated with
the results of exploration activities, the interpretation of
drilling results and other geological risks, estimation of mineral
resources and the geology, grade and continuity of mineral
deposits, project cost overruns or unanticipated costs and
expenses; and (g) such other risks detailed from time-to-time in
the Company's quarterly and annual filings with securities
regulators and available under the Company's profile on SEDAR at
www.sedar.com.
Although the Company believes that the
expectations conveyed by the forward-looking statements are
reasonable based on the information available to it on the date
such statements were made, no assurances can be given as to future
results, approvals or achievements. Such forward-looking
statements have been made for the purpose of assisting investors in
understanding the Company's business, financial and operational
performance and plans and may not be appropriate for other
purposes. The forward-looking statements contained in this
news release are expressly qualified by this cautionary
statement. The Company disclaims any duty to update any of
the forward-looking statements after the date of this news release
to conform such statements to actual results or to changes in the
Company's expectations except as otherwise required by applicable
law.
SOURCE Western Pacific Resources Corp.
