Hycroft Nominates Stephen Lang And David Naccarati To Board Of Directors
On April 14, 2021, Hycroft Mining Holding Corporation (Nasdaq: HYMC) announced the nomination of Stephen A. Lang and David Naccarati to its Board of Directors at the upcoming Annual Meeting on May 24, 2021. Both nominees bring over 40 years of mining experience, with Lang previously serving as CEO of Centerra Gold Inc., and Naccarati as president of Phelps Dodge Mining Company. This strategic addition aims to enhance the board's operational expertise at a crucial time for the company, as it seeks to develop the Hycroft Mine into a leading gold and silver producer.
- Appointment of Stephen A. Lang and David Naccarati adds significant mining expertise to the Board.
- Lang has over 40 years of experience, potentially strengthening leadership at a critical development stage.
- Naccarati brings extensive operational experience and leadership in the mining sector.
- Retirement of John Ellis may create continuity concerns on the Board.
DENVER, April 14, 2021 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company"), a gold and silver producer operating the Hycroft Mine in the prolific mining region of Northern Nevada, is pleased to announce that it will nominate Mr. Stephen A. Lang and Mr. David Naccarati, to its Board of Directors at its upcoming Annual Meeting being held on May 24, 2021.
David Kirsch, Chairman of the Board of Directors, said, "we are very pleased to invite and nominate Steve and David to the Board of Directors. Both gentlemen are seasoned mining professionals with extensive technical expertise in mining operations, mine development, safety and leadership and will be joining at a critical time where their depth of operational and technical experience will be important in guiding the Company as we continue to develop Hycroft into a leading gold and silver mine."
Hycroft's Board of Directors regularly evaluates its composition to ensure the appropriate skills, experience and perspective are included to improve its key functions of overseeing personnel development, financial performance, other major responsibilities for strategy, risk, integrity, reputation, governance and drive growth for all Hycroft shareholders. Following a recent review and evaluation, the Board of Directors decided it wanted to add skills and experience with specific mining operations and technical metallurgical experience, encompassing functional and broader leadership roles in demanding operational / technical environments, of scale and involving large world-class open-pit mines.
Stephen A. Lang has over 40 years of experience in the mining industry, including engineering, development and production at gold, copper, coal and PGM operations. Mr. Lang is currently Chair of the Board of Hudbay Minerals Inc., a low-cost, long-life, diversified mining company. He was Chief Executive Officer of Centerra Gold Inc., a publicly traded mining company, from 2008 to 2012 and served as Centerra's Board Chair from 2012 to 2019. Prior to that, he served as Chief Operating Officer at Stillwater Mining Company, Vice President/General Manager at Barrick Goldstrike operations, Vice President of Engineering and Project Development for Rio Algom Ltd, General Manager of the Fort Knox Mine for Kinross Gold/Amax Gold, and General Manager at the Twin Creeks and Lone Tree mines for Santa Fe Pacific Gold. He was a member of the Board of Directors of a predecessor company during the development of the Hycroft Mine from 2013 through 2015. He is also a member of the board of directors of each of International Tower Hill Mines Ltd., Bear Creek Mining Corporation and Argonaut Gold Inc. Mr. Lang holds a BS and MS in Mining Engineering from the Missouri University of Science and Technology.
David Naccarati has more than 45 years of experience in the mining industry. He currently serves as an independent consultant to the mining industry. He was a founding partner of Cupric Canyon Capital, LLC, a private equity firm focused on acquiring and developing mining properties, and served as a member of its board of directors from 2010 to 2019. Mr. Naccarati was a member of the senior management team for Phelps Dodge Corporation, from 2004 to 2007, including serving as president of the Phelps Dodge Mining Company, a division of Phelps Dodge Corporation. Mr. Naccarati also served as an adjunct professor in the department of Mining and Geological Engineering at the University of Arizona from 2009 to 2011. Mr. Naccarati received a degree in Mining Engineering from the University of Arizona and an MBA from Sloan School of Management (MIT).
Mr. John Ellis has decided to retire from the Board of Directors and will not stand for reelection at the 2021 Annual Meeting of Shareholders.
"On behalf of the Board and management, we would like to express our sincere thanks and appreciation to John Ellis for his insight, wisdom, counsel and advice over the past 4 years as we have restarted the Hycroft Mine and effected our recapitalization transaction to become and publicly traded company," added Mr. Kirsch.
This Press Release Does Not Constitute a Solicitation of Proxies
This press release is not a solicitation of proxies from holders of common stock of Hycroft Mining Holding Corporation. The Company will provide shareholders with a proxy statement and other relevant materials in connection with the 2021 Annual Meeting of Shareholders. Any solicitation of proxies by or on behalf of the Company in connection with the 2021 Annual Meeting of Shareholders will be conducted upon and following the dissemination of the proxy statement and other materials in accordance with applicable law. We urge shareholders to read the proxy statement and any other relevant documents to be filed with the SEC when available, as such documents will contain important information. Shareholders will be able to receive the proxy statement and other relevant documents free of charge at the SEC's website at http://www.sec.gov or at http://www.hycroftmining.com.
About Hycroft Mining Holding Corporation
Hycroft is a US-based, gold and silver producer operating the Hycroft Mine located in the world-class mining region of Northern Nevada. The Hycroft Mine ranks among the top 20 largest primary gold deposits in the world and is the second largest in the United States.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the Unites States Securities Exchange Act of 1934, as amended, or the Unites States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included herein and public statements by our officers or representatives, that address activities, events or developments that our management expects or anticipates will or may occur in the future, are forward-looking statements, including but not limited to such things as future business strategy, plans and goals, competitive strengths and expansion and growth of our business. The words "estimate", "plan", "anticipate", "expect", "intend", "believe" "target", "budget", "may", "can", "will", "would", "could", "should", "seeks", or "scheduled to" and similar words or expressions, or negatives of these terms or other variations of these terms or comparable language or any discussion of strategy or intention identify forward-looking statements. Forward-looking statements address activities, events or developments that the Company expects or anticipates will or may occur in the future and are based on current expectations and assumptions. These statements involve known and unknown risks, uncertainties, assumptions and other factors which may cause our actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements. Any forward-looking statements made in this news release speak only as of the date of those statements, and we undertake no obligation to update those statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments.
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SOURCE Hycroft Mining Holding Corporation
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