Ero Copper Announces Changes to the Board of Directors

Rhea-AI Summary

Ero Copper Corp. has announced the appointment of Faheem Tejani to its Board of Directors as part of the company's ongoing Board succession planning. Director Matthew Wubs will not be seeking re-election at the 2024 Annual Meeting. Tejani brings 25 years of experience in finance, capital markets, and mergers and acquisitions. He is currently the President of Capital Asset Lending, a private mortgage administrator in Canada with approximately $1 billion of assets under management. Jill Angevine has been appointed as the new Chairperson of the Board's Audit Committee.

VANCOUVER, British Columbia, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the “Company”) is pleased to announce the appointment of Faheem Tejani to the Company's Board of Directors (the "Board"), effective today, as part of the Company's ongoing Board succession planning. The Company also announces that Director Matthew Wubs will not be seeking re-election at the 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"), as he plans to dedicate more time to his family business.

"On behalf of the Board, I would like to extend our appreciation to Matt for his invaluable contributions and dedication since joining us in 2016," said Christopher Noel Dunn, Chairman of the Board.

Dr. Sally Eyre, Chairperson of the Board's Nominating and Corporate Governance Committee, remarked on the transition: "As Matt prepares to leave his Director role in April 2024, we are very pleased to welcome Faheem to the Board. His deep experience in finance, combined with his previous board experience, will bring diverse perspectives to our discussions and decision-making."

Mr. Tejani is a seasoned finance professional with 25 years of experience in capital markets, corporate finance, and mergers and acquisitions. He is currently the President of Capital Asset Lending, one of the largest private mortgage administrators of non-traditional residential mortgages in Canada with approximately $1 billion of assets under management. Prior to this, he dedicated over 17 years of his career to BMO Capital Markets, culminating his tenure as Managing Director in the Equity Capital Markets division, with a focus on the mining and metals sector. Before joining BMO Capital Markets, he worked at one of the largest global accounting firms. Mr. Tejani also notably served on the Board of Directors of Pretium Resources from 2018 to 2022. He holds a Bachelor of Arts (Honours) degree from the University of Western Ontario and is a Chartered Professional Accountant.

In preparation for these transitions, Jill Angevine has been appointed as the new Chairperson of the Board's Audit Committee. Mr. Wubs will remain a member of the Board's Audit Committee until the 2024 Annual Meeting.

ABOUT ERO COPPER CORP

Ero is a high-margin, high-growth, low carbon-intensity copper producer with operations in Brazil and corporate headquarters in Vancouver, B.C. The Company's primary asset is a 99.6% interest in the Brazilian copper mining company, Mineração Caraíba S.A. ("MCSA"), 100% owner of the Company's Caraíba Operations (formerly known as the MCSA Mining Complex), which are located in the Curaçá Valley, Bahia State, Brazil and include the Pilar and Vermelhos underground mines and the Surubim open pit mine, and the Tucumã Project (formerly known as Boa Esperança), an IOCG-type copper project located in Pará, Brazil. The Company also owns 97.6% of NX Gold S.A. ("NX Gold") which owns the Xavantina Operations (formerly known as the NX Gold Mine), comprised of an operating gold and silver mine located in Mato Grosso, Brazil. Additional information on the Company and its operations, including technical reports on the Caraíba Operations, Xavantina Operations and Tucumã Project, can be found on the Company's website (www.erocopper.com), on SEDAR (www.sedar.com), and on EDGAR (www.sec.gov). The Company’s shares are publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol “ERO”.

FOR MORE INFORMATION, PLEASE CONTACT

Courtney Lynn, SVP, Corporate Development, Investor Relations & Sustainability
(604) 335-7504
info@erocopper.com

CAUTION REGARDING FORWARD LOOKING INFORMATION AND STATEMENTS

This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking statements”). Forward-looking statements include statements that use forward-looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Forward-looking statements may include, but are not limited to, Mr. Wubs' intention not to seek re-election at the 2024 Annual Meeting.

Forward-looking statements are not a guarantee of future performance. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve statements about the future and are inherently uncertain, and the Company’s actual results, achievements or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to herein and in the AIF under the heading “Risk Factors”.

The Company’s forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management on the date the statements are made, many of which may be difficult to predict and beyond the Company’s control. In connection with the forward-looking statements contained in this press release and in the AIF, the Company has made certain assumptions about, among other things: continued effectiveness of the measures taken by the Company to mitigate the possible impact of COVID-19 on its workforce and operations; favourable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the production, development and exploration of the Company’s properties and assets; future prices of copper, gold and other metal prices; the timing and results of exploration and drilling programs; the accuracy of any mineral reserve and mineral resource estimates; the geology of the Caraíba Operations, the Xavantina Operations and the Tucumã Project being as described in the respective technical report for each property; production costs; the accuracy of budgeted exploration, development and construction costs and expenditures; the price of other commodities such as fuel; future currency exchange rates and interest rates; operating conditions being favourable such that the Company is able to operate in a safe, efficient and effective manner; work force continuing to remain healthy in the face of prevailing epidemics, pandemics or other health risks (including COVID-19), political and regulatory stability; the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms; obtaining required renewals for existing approvals, licenses and permits on favourable terms; requirements under applicable laws; sustained labour stability; stability in financial and capital goods markets; availability of equipment; positive relations with local groups and the Company’s ability to meet its obligations under its agreements with such groups; and satisfying the terms and conditions of the Company’s current loan arrangements. Although the Company believes that the assumptions inherent in forward-looking statements are reasonable as of the date of this press release, these assumptions are subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking statements. The Company cautions that the foregoing list of assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws. 

FAQ

Who has been appointed to Ero Copper Corp.'s Board of Directors?

Faheem Tejani has been appointed to Ero Copper Corp.'s Board of Directors.

Who will not be seeking re-election at the 2024 Annual Meeting?

Director Matthew Wubs will not be seeking re-election at the 2024 Annual Meeting.

What is Faheem Tejani's current role?

Faheem Tejani is currently the President of Capital Asset Lending, a private mortgage administrator in Canada.

What is the approximate value of assets under management by Capital Asset Lending?

Capital Asset Lending has approximately $1 billion of assets under management.

Who has been appointed as the new Chairperson of the Board's Audit Committee?

Jill Angevine has been appointed as the new Chairperson of the Board's Audit Committee.