Thunder Bay, Ontario--(Newsfile Corp. - September 14, 2018) - Zenyatta Ventures Ltd. (TSXV: ZEN) ("Zenyatta" or the "Company") is pleased to announce that Brian Bosse has been appointed Chief Financial Officer of the Company. His role as Chief Restructuring Officer has now come to an end as the Company comes out of a restructuring phase and looks forward to becoming a leader in the Graphene market.
"Brian has done an excellent job as Chief Restructuring Officer and the Board greatly appreciates his efforts" stated Co-CEO Dr. Francis Dubé. "Brian came in at a difficult time in the Company's history permitting Zenyatta to be in a much stronger position just four months after the special meeting of shareholders held on May 11, 2018 (the "Special Meeting"). During this time, Brian proved himself to be very capable of managing the financial affairs of the Company and we are delighted that he has agreed to continue on the management team as our Chief Financial Officer."
Zenyatta is very pleased to announce that Peter Wood, P.Geo., P.Eng. has been promoted from Vice President to President and Chief Operating Officer. Co-CEO Don Bubar commented "Peter is a geological engineer who has been leading the exploration and development work on the Albany Graphite Project since 2013 and proven himself to be highly qualified to direct project and graphene development activities going forward. He is committed to helping us realize the full potential of Albany Graphite in the Graphene market and has earned the opportunity to provide leadership for the next stage of Zenyatta's growth as President and Chief Operating Officer."
Zenyatta also wishes to provide an update regarding its former director and President, Mr. Aubrey Eveleigh. Mr. Eveleigh was removed from the Zenyatta board of directors at the Special Meeting. Mr. Eveleigh did not attend the Special Meeting, he has not appeared at the Company's offices since the special meeting, and he has not provided transition assistance to the current Board of directors and new management.
For further information:
Dr. Francis Dubé, Co-CEO & Head of Business Development and Technology
Tel: +1 (289) 821-2820
Zenyatta's Albany Graphite Project hosts a large and unique quality deposit of highly crystalline graphite. Independent labs in Japan, UK, Israel, USA and Canada have demonstrated that Zenyatta's Albany Graphite/Naturally PureTM easily converts (exfoliates) to graphene using a variety of simple mechanical and chemical methods. The deposit is located in northern Ontario just 30km north of the Trans-Canada Highway, near the communities of Constance Lake First Nation and Hearst. Important nearby infrastructure include hydro-power, natural gas pipeline, a rail line 50 km away and an all-weather road just 10 km from the deposit.
To find out more on Zenyatta Ventures Ltd., please visit our website at www.zenyatta.ca. A copy of this press release and all material documents with respect of the Company may be obtained on Zenyatta's SEDAR profile at www.sedar.ca.
CAUTIONARY STATEMENT: 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 may contain forward looking information and Zenyatta cautions readers that forward looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Zenyatta included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "potential", "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Zenyatta and Zenyatta provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Zenyatta's future plans, objectives or goals, to the effect that Zenyatta or management expects a stated condition or result to occur, including the expected uses for graphite or graphene in the future, and the future uses of the graphite from Zenyatta's Albany deposit. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of metallurgical processing, ongoing exploration, project development, reclamation and capital costs of Zenyatta's mineral properties, and Zenyatta's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as, but are not limited to: failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the inability to identify target markets and satisfy the product criteria for such markets; the inability to complete a prefeasibility study; the inability to enter into offtake agreements with qualified purchasers; 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; 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 Zenyatta's public documents filed on SEDAR. This list is not exhaustive of the factors that may affect any of Zenyatta's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Zenyatta's forward-looking statements. Although Zenyatta 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. Zenyatta 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.