Lake Victoria Gold Welcomes Richard Reynolds to Its Board of Directors in Connection with Taifa Group Strategic Partnership
Lake Victoria Gold (LVGLF) has appointed Richard Reynolds to its Board of Directors, strengthening its strategic partnership with Taifa Group. Reynolds brings over 30 years of experience in mining, infrastructure, and logistics across East Africa and the UAE.
Reynolds currently reports to Taifa Group's Chairman, focusing on strategic oversight and business development. As former CEO of Taifa Mining & Civils , he played a key role in developing mining operations throughout the region. The partnership aims to accelerate the development of LVG's Imwelo Gold Project, leveraging Taifa's expertise in contract mining and infrastructure.
Additionally, the company has engaged Baystreet.ca Media for a two-month digital advertising and marketing campaign starting April 2, 2025, for USD$40,000.
Lake Victoria Gold (LVGLF) ha nominato Richard Reynolds nel suo Consiglio di Amministrazione, rafforzando la sua partnership strategica con Taifa Group. Reynolds porta con sé oltre 30 anni di esperienza nel settore minerario, nelle infrastrutture e nella logistica in tutta l'Africa orientale e negli Emirati Arabi Uniti.
Reynolds attualmente riporta al Presidente di Taifa Group, concentrandosi sulla supervisione strategica e sullo sviluppo commerciale. In qualità di ex CEO di Taifa Mining & Civils, ha svolto un ruolo chiave nello sviluppo delle operazioni minerarie in tutta la regione. La partnership mira ad accelerare lo sviluppo del Progetto Aurifero Imwelo di LVG, sfruttando l'expertise di Taifa nel mining contrattuale e nelle infrastrutture.
Inoltre, l'azienda ha ingaggiato Baystreet.ca Media per una campagna di pubblicità e marketing digitale della durata di due mesi, che inizierà il 2 aprile 2025, per un importo di 40.000 USD.
Lake Victoria Gold (LVGLF) ha nombrado a Richard Reynolds en su Junta Directiva, fortaleciendo su asociación estratégica con Taifa Group. Reynolds aporta más de 30 años de experiencia en minería, infraestructura y logística en toda África Oriental y los EAU.
Reynolds actualmente reporta al Presidente de Taifa Group, centrándose en la supervisión estratégica y el desarrollo empresarial. Como ex CEO de Taifa Mining & Civils, desempeñó un papel clave en el desarrollo de operaciones mineras en toda la región. La asociación tiene como objetivo acelerar el desarrollo del Proyecto de Oro Imwelo de LVG, aprovechando la experiencia de Taifa en minería por contrato e infraestructura.
Además, la empresa ha contratado a Baystreet.ca Media para una campaña de publicidad y marketing digital de dos meses que comenzará el 2 de abril de 2025, por un total de 40,000 USD.
레이크 빅토리아 골드 (LVGLF)는 리차드 레이놀즈를 이사회에 임명하여 타이파 그룹과의 전략적 파트너십을 강화했습니다. 레이놀즈는 동아프리카와 아랍에미리트에서 30년 이상의 광업, 인프라 및 물류 경험을 가지고 있습니다.
레이놀즈는 현재 타이파 그룹 의장에게 보고하며, 전략적 감독 및 비즈니스 개발에 집중하고 있습니다. 타이파 마이닝 & 시빌스의 전 CEO로서 그는 이 지역의 광업 운영 개발에 중요한 역할을 했습니다. 이 파트너십은 타이파의 계약 광업 및 인프라 전문성을 활용하여 LVG의 임웰로 금 프로젝트 개발을 가속화하는 것을 목표로 하고 있습니다.
또한, 회사는 2025년 4월 2일부터 시작되는 2개월간의 디지털 광고 및 마케팅 캠페인을 위해 Baystreet.ca Media를 고용했으며, 비용은 40,000 USD입니다.
Lake Victoria Gold (LVGLF) a nommé Richard Reynolds au sein de son Conseil d'Administration, renforçant ainsi son partenariat stratégique avec Taifa Group. Reynolds apporte plus de 30 ans d'expérience dans le secteur minier, les infrastructures et la logistique en Afrique de l'Est et aux Émirats Arabes Unis.
Reynolds rend actuellement compte au Président de Taifa Group, en se concentrant sur la supervision stratégique et le développement commercial. En tant qu'ancien PDG de Taifa Mining & Civils, il a joué un rôle clé dans le développement des opérations minières dans toute la région. Le partenariat vise à accélérer le développement du Projet Aurifère Imwelo de LVG, en tirant parti de l'expertise de Taifa en matière de mining contractuel et d'infrastructure.
De plus, l'entreprise a engagé Baystreet.ca Media pour une campagne de publicité et de marketing numérique de deux mois qui débutera le 2 avril 2025, pour un montant de 40 000 USD.
Lake Victoria Gold (LVGLF) hat Richard Reynolds in seinen Vorstand berufen und damit die strategische Partnerschaft mit Taifa Group gestärkt. Reynolds bringt über 30 Jahre Erfahrung im Bergbau, in der Infrastruktur und in der Logistik in Ostafrika und den VAE mit.
Derzeit berichtet Reynolds an den Vorsitzenden von Taifa Group und konzentriert sich auf strategische Aufsicht und Geschäftsentwicklung. Als ehemaliger CEO von Taifa Mining & Civils spielte er eine Schlüsselrolle bei der Entwicklung von Bergbauoperationen in der gesamten Region. Die Partnerschaft zielt darauf ab, die Entwicklung des Imwelo Goldprojekts von LVG zu beschleunigen, indem sie die Expertise von Taifa im Vertragsbergbau und in der Infrastruktur nutzt.
Darüber hinaus hat das Unternehmen Baystreet.ca Media für eine zweimonatige digitale Werbe- und Marketingkampagne engagiert, die am 2. April 2025 beginnt und 40.000 USD kostet.
- Strategic partnership with Tanzania's leading mining contractor Taifa Group
- Addition of board member with 30+ years of regional mining expertise
- Access to Taifa's technical expertise and operational capabilities for Imwelo Gold Project
- USD$40,000 marketing expense for short-term campaign
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2025) - Lake Victoria Gold (TSXV: LVG) (OTCQB: LVGLF) ("LVG", or the "Company") is pleased to announce the appointment of Richard Reynolds to its Board of Directors. Mr. Reynolds brings over three decades of experience in mining, infrastructure, logistics, and commercial development, with a strong track record of success across East Africa and the UAE.
Mr. Reynolds' appointment marks an important step in strengthening LVG's strategic partnership with Taifa Group and Taifa Mining & Civils Ltd., Tanzania's leading mining and civil works contractor. In his current role, he reports directly to the Chairman of Taifa Group, providing strategic oversight and support in the evaluation and development of new business opportunities. While not involved in day-to-day operations, he plays a central role in guiding growth initiatives, fostering partnerships, and supporting market expansion across the Group.
Previously, as Chief Executive Officer of Taifa Mining & Civils Ltd., Mr. Reynolds was instrumental in shaping the company's mining operations and delivering large-scale projects throughout the region. His leadership in the mining sector and deep operational expertise will be critical in advancing LVG's Imwelo Gold Project toward production.
The LVG-Taifa Group partnership marks a significant milestone in the development of the Imwelo Gold Mine, bringing together technical expertise, financial strength, and operational capabilities to accelerate project execution. Taifa Group's extensive experience in contract mining, infrastructure development, and equipment management will be crucial in optimizing Imwelo's mining operations, reducing costs, and maximizing efficiency.
Marc Cernovitch, President & CEO of LVG, commented: "We are excited to welcome Richard to the LVG Board. His appointment underscores the importance of our partnership with Taifa Group and reinforces our commitment to unlocking the full potential of our Tanzanian Gold Projects. Richard's leadership in the African business sector, coupled with his expertise in infrastructure and project finance, makes him a key asset as we transition LVG from exploration company into a development one."
Beyond his role at Taifa Group, Mr. Reynolds holds several other non-executive directorships across the transport, logistics, and agricultural sectors. His previous leadership experience includes serving as a director of major companies in the telecommunications, rail, and construction industries.
Mr. Reynolds holds a Bachelor of Technology in Quantity Surveying, along with National and Higher National Diplomas in Building and Quantity Surveying. He has also completed executive training in infrastructure financing and project finance, positioning him as a leading expert in large-scale project execution.
With this appointment, LVG is poised to leverage Taifa Group's resources, operational expertise, and mining capabilities to fast-track the development of Imwelo and establish LVG as a key player in Tanzania's gold sector.
Pursuant to an agreement dated April 1, 2025 , the Company has engaged Baystreet.ca Media to provide certain digital advertising and marketing services focused on introducing the Company to a broader audience. In exchange for providing these services, Baystreet will receive an upfront payment of USD
About Lake Victoria Gold (LVG):
Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our unique position and experience, the Company is principally focused on growth and consolidation in the highly prolific and prospective Lake Victoria Goldfield in Tanzania.
The Company has a
LVG has assembled a highly experienced team with a track record of developing, financing, and operating mining projects in Africa with management, directors and partners owning more than
Taifa Group (a diverse group of companies with interests in amongst others, Mining, Telecoms, Oil & Gas, Agri Business, Pharmaceuticals and Leather) has entered into an agreement with the Company to obtain an equity stake in the Company and through its wholly owned subsidiary Taifa Mining (a wholly Tanzanian owned company), or other nominees. Taifa Mining will also carry out all the contract mining and civil works for the Imwelo project. Taifa Mining is Tanzania's largest mining contractor with over 30 years mining related experience. Taifa have been the contractor of choice to most mines in Tanzania and have maintained long and successful relationships with companies such as Petra, De Beers, Barrick, and AngloGold Ashanti. In addition, Taifa also owns the largest fleet of mining equipment in Tanzania. As a company, Taifa is committed to adopting and adhering to the latest internationally recognized standards throughout all aspects of its business.
On Behalf of the Board of Directors of the Company,
Simon Benstead
Executive Chairman & CFO
Phone: +1 604-685-9316
Email: sbenstead@lakevictoriagold.com
For more information please contact:
Simon Benstead
Executive Chairman & CFO
Phone:+ 1 604-685-9316
Email: sbenstead@lakevictoriagold.com
Marc Cernovitch
CEO & Director
Phone: +1 604-685-9316
Email: mcernovitch@lakevictoriagold.com
NEITHER THE 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 NEWS RELEASE.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation, including: future exploration and development plans with respect to the Imwelo Project, contract work on the Imwelo Project by Taifa Mining, securing additional financing for the development costs of the Imwelo project, the closing of the acquisition of the Imwelo Project and the concurrent financing, including the satisfaction of the closing conditions thereunder, and receipt of all regulatory approvals, including the approval of the TSX Venture Exchange for the acquisition and financing. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond LVG's control, including risks associated with or related to: the completion of the acquisition of the Imwelo project, the concurrent financing and related transactions, including receipt of all regulatory approvals and third-party consents, the volatility of metal prices and LVG's common shares; changes in tax laws; the dangers inherent in exploration, development and mining activities; the uncertainty of reserve and resource estimates; not achieving development or production, cost or other estimates; actual exploration or development plans and costs differing materially from the Company's estimates; the ability to obtain and maintain any necessary permits, consents or authorizations required for mining activities; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the availability of financing; financing and debt activities; operations in foreign and developing countries and the compliance with foreign laws, including those associated with operations in Tanzania and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements or resource nationalization generally, including in response to the COVID-19 outbreak; remote operations and the availability of adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties and joint venture partners; challenges to title or surface rights; the dependence on key personnel and the ability to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk; competition with other mining companies; community support for LVG's operations, including risks related to strikes and the halting of such operations from time to time; conflicts with small scale miners; failures of information systems or information security threats; the ability to maintain adequate internal controls over financial reporting as required by law; compliance with anti-corruption laws, and sanctions or other similar measures; social media and LVG's reputation; and other risks disclosed in the Company's public filings.
LVG's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. LVG does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities LVG will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247172
FAQ
What experience does Richard Reynolds bring to Lake Victoria Gold (LVGLF)?
How will the Taifa Group partnership benefit LVGLF's Imwelo Gold Project?
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