Goldgroup Appoints John McClintock as Chief Executive Officer

Rhea-AI Summary

Goldgroup Mining Inc. has appointed Mr. John McClintock as the new Chief Executive Officer, effective immediately, replacing Anthony Balic, who will remain as Chief Financial Officer. McClintock brings over 14 years of experience in capital markets and has raised over USD $700 million for mining companies. His educational background includes a MSc in Mineral & Energy Economics. The Board is optimistic about his leadership in executing strategic priorities and growth. Goldgroup operates several gold projects in Mexico, including Cerro Prieto and San José de Gracia.

Positive

• Appointment of John McClintock as CEO brings extensive experience in capital markets and mining finance.
• McClintock has a proven track record, having arranged over USD $700 million in funding for mining companies.

Negative

• Transition from interim CEO to a new CEO might raise concerns about continuity and immediate strategic direction.

VANCOUVER, British Columbia, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Goldgroup Mining Inc. (“Goldgroup” or the “Company”) (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) announces the appointment of Mr. John McClintock as the Company’s Chief Executive Officer (“CEO”) effectively immediately. Anthony Balic, the previous Interim CEO, will continue as the Company’s Chief Financial Officer.

Mr. McClintock has over 14 years of international and domestic experience in capital markets within the mining and metals industry. Mr. McClintock began his career in investment banking and equity research in Toronto prior to relocating to the UK to work in fixed income and mergers and acquisitions with Pareto Securities S.A, where he focused on sourcing and structuring high-yield debt, syndicated loan facilities and equity capital raises. During his eight years in investment banking, Mr. McClintock arranged in excess of USD $700 million of funding for mining companies. Mr. McClintock holds a MSc in Mineral & Energy Economics from Curtin University, Perth, Australia.

"On behalf of the Goldgroup Board of Directors, I am very pleased to welcome Mr. McClintock as the new CEO," said Corry Silbernagel, Director.  "We are excited by his commitment to continue executing Goldgroup’s key strategic priorities and growth strategy."

About Goldgroup

Goldgroup is a Canadian-based gold production, development, and exploration Company with a significant upside in a portfolio of projects in Mexico, including an interest in DynaResource de Mexico, S.A. de C.V., which owns 100% of the high-grade gold exploration project, San José de Gracia, located in the State of Sinaloa. In addition, the Company operates its 100%-owned Cerro Prieto heap-leach gold mine, in the State of Sonora, Mexico.

Goldgroup is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance, and exploration in Mexico. Goldgroup’s mission is to increase gold production, mineral resources, profitability and cash flow, with a view to building a leading gold producer.

For further information on Goldgroup, please visit www.goldgroupmining.com

On behalf of the Board of Directors

Investor Relations
Toll Free: 1-877-655-ozAu (6928)

FAQ

Who is the new CEO of Goldgroup Mining (GGAZF)?

The new CEO of Goldgroup Mining is Mr. John McClintock, appointed immediately.

What experience does John McClintock bring to Goldgroup Mining?

John McClintock has over 14 years in capital markets, focusing on the mining industry and has raised over USD $700 million.

What role will Anthony Balic have after the CEO change at Goldgroup Mining?

Anthony Balic will continue to serve as the Chief Financial Officer of Goldgroup Mining.

How might the leadership change impact Goldgroup Mining's strategy?

The Board is optimistic that McClintock's leadership will enhance the execution of Goldgroup's strategic priorities and growth plans.