Cypress Development Appoints Braam Jonker as Chief Financial Officer

Rhea-AI Summary

Cypress Development Corp. (TSX-V: CYP, OTCQB: CYDVF) has appointed Mr. Abraham (Braam) Jonker as its new Chief Financial Officer. Jonker brings nearly 30 years of mining industry experience, including a previous role as CFO at Nevada Copper Corp. He is recognized for his expertise in financial management and strategic growth. The appointment follows the transition of Acting CFO James Pettit to a Non-Executive Director position. Jonker's leadership is expected to drive the Clayton Valley Lithium Project towards a feasibility study, enhancing the company's position in the lithium market.

Positive

• Appointment of Braam Jonker as CFO brings nearly 30 years of mining experience.
• Jonker's expertise from Nevada Copper is expected to advance the Clayton Valley Lithium Project.
• Strong background in raising over $750 million in equity and debt instruments.

Negative

• None.

VANCOUVER, British Columbia, May 03, 2021 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to announce the appointment of Mr. Abraham (Braam) Jonker as Chief Financial Officer of the Company. Acting CFO James Pettit will continue to serve on the Board of Directors as a Non-Executive Director.

Mr. Jonker is an accomplished financial leader in the mining industry with almost 30 years of experience. He recently served as CFO of Nevada Copper Corp, where he led the corporate finance functions as the company transitioned to project developer and into initial start-up of production. Prior to his appointment as CFO, he also served as Interim CEO and Non-Executive Director of Nevada Copper. Mr. Jonker has played a pivotal role in several business recoveries and restructurings, was a key team member in management and at the board level in the strategic growth of a number of public companies and has participated, raised and overseen the raising of more than $750 million in the form of equity and debt instruments in the mining industry. He is a registered Chartered Accountant in British Columbia, (Canada), England, Wales and South Africa. He is also a member of the Chartered Institute of Management Accountants in the United Kingdom and holds a Masters degree in South African and International Tax from the Rand Afrikaans University, South Africa.

“We are pleased to welcome Braam to the Company” said Cypress CEO Bill Willoughby. “We are excited to have available his expertise in strategic and financial management and especially his recent accomplishments with a major mining project in Nevada. We look forward to his contributions as we move our Clayton Valley Lithium Project in Nevada towards a feasibility study. The Company also thanks Jim Pettit for his service as CFO and is looking forward to his continued guidance and involvement on the Board of Directors”.

About Cypress Development Corp.:

Cypress Development Corp. is a publicly traded exploration company focused on developing the Company’s 100%-owned Clayton Valley Lithium Project in Nevada. Exploration and development by Cypress discovered a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. The size of the resource makes the Clayton Valley Project a premier source that has the potential to impact the supply of lithium for the fast-growing global energy storage battery market.

Clayton Valley Lithium Project, Nevada Claims Map:
https://www.cypressdevelopmentcorp.com/site/assets/files/3573/cyp_cypress_-_albemarle_properties_map.jpg

To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.

CYPRESS DEVELOPMENT CORP.

“Dr. Bill Willoughby”
                                        
WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer

For further information contact myself or:
Don Myers
Cypress Development Corp.
Director, Corporate Communications
Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cypressdevelopmentcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

FAQ

Who is the new CFO of Cypress Development Corp.?

Mr. Abraham (Braam) Jonker has been appointed as the new CFO of Cypress Development Corp.

What is Braam Jonker's previous experience?

Jonker was previously CFO at Nevada Copper Corp., contributing to corporate finance during its transition to a project developer.

How might Jonker's appointment impact CYDVF?

Jonker's extensive experience in financial management and project development may positively influence Cypress's progress in the Clayton Valley Lithium Project.

What role will James Pettit have after the CFO transition?

James Pettit will continue as a Non-Executive Director on the Board of Directors after serving as Acting CFO.

What is the focus of Cypress Development Corp.?

Cypress Development Corp. is focused on the development of its Clayton Valley Lithium Project in Nevada.