/C O R R E C T I O N -- Zinco do Brasil, Inc./
NEW YORK, Dec. 28, 2012
In the news release, Zinco do Brasil Director Edward C. Dowling Jr. and Zinco
do Brasil Shareholder Lidya Madencilik (Calik Holding) participate in Equity
Financing at $0.10 per Share, issued 28-Dec-2012 by Zinco do Brasil, Inc. over
PR Newswire, we are advised by the company that the equity financing per share
in the headline should read "$1.50 per Share" rather than "$0.10 per Share" as
originally issued inadvertently. The complete, corrected release follows:
Zinco do Brasil Director Edward C. Dowling Jr. and Zinco do Brasil
Shareholder Lidya Madencilik (Calik Holding) participate in Equity Financing
at $1.50 per Share
NEW YORK, Dec. 28, 2012 /PRNewswire/ -- Zinco do Brasil, Inc. (OTCBB: TRKPD)
(the "Company") is pleased to announce that its Director Edward C. Dowling Jr.
and existing shareholder Lidya Madencilik (fully owned subsidiary of Calik
Holding) have subscribed for an initial $500,000 in the Company's current
equity financing at $1.50 per share. Ed Dowling and Lidya Madencilik intend to
invest a total of $2,000,000 under the same conditions.
Zinco do Brasil CEO and Chairman Ryan E. Hart commented: "There is no greater
act of confidence and proof of commitment to a company and its strategy than
its board members investing their own money." Hart continued: "This is a very
strong signal to the Company's shareholders and the market, that its board
members and existing shareholders are fully committed to making the Company a
About Edward C. Dowling Jr.:
Mr. Dowling retired as President & CEO of Alacer Gold Corp. in July 2012,
which he joined in 2008 after a successful tenure as CEO and President of
Meridian Gold Inc. Mr. Dowling has 30 years of mining experience and held
leadership roles with: De Beers, Johannesburg, South Africa, as Executive
Director for Mining and Exploration; Cleveland-Cliffs as Executive
Vice-President of Operations; and Cyprus Amax Minerals Company in various
Mr. Dowling holds a Bachelor of Science in Mining Engineering, a Master of
Science and a Ph.D. in Mineral Processing, all granted from the Pennsylvania
State University, and is recognized in the industry for his ability to
assemble and motivate teams of people to tackle and deliver challenging
projects for creation of long-term value.
About Lidya Madencilik
Founded in 2006, Lidya Madencilik is a fully owned subsidiary of Calik
Holding, operating in the fields of metals and precious metals in Turkey, with
a strong focus on gold, copper, silver and molybdenum.
Lidya owns a 20% share of Anagold, a joint venture of Alacer Gold and Lidya,
which produced 185,417 ounces of gold in 2011. The production in the Copler
area exceeded the expectations, corresponding to a quarter of Turkey's gold
production. Providing employment for 700 people in the Copler Gold Mine,
including locals from Ilic and the villages in the vicinity, Anagold achieved
a turnover of 267 million USD in 2011.
The Copler gold mine holds the second largest gold reserve in Turkey with
reserves of up to 4.6 million ounces of gold. Anagold expected and targets to
produce 200,000 ounces of gold in 2012.
In 2011 Lidya Madencilik concluded a fifty-fifty partnership with Alacer Gold
for 16 new mining projects in Turkey. Exploration operations have been
initiated on the first field.
In line with the new partnership, both Companies agreed on Kurudere
Madencilik, a subsidiary of Alacer Gold, to be the operator for Tuncpınar
Madencilik, owner of copper fields in Tunceli, and for Kartaltepe Mining,
owner of copper/gold fields in the Erzincan area, while, Lidya Madencilik to
be the operator of Polimetal Madencilik that owns the other 12 fields issued
under fifty-fifty partnership.
Lidya intends to increase its activities as an operator as well as an investor
in the Turkish mining industry. These sites of different metals in different
provinces of Turkey are expected to play a major role in Lidya Madencilik's
investment and growth plans in the near future.
About Calik Holding
Calik Holding's foundation was laid by Mr. Ahmet Calik in 1981, a member of
the Calik Family, whose commercial activities date back to the 1930s. Today,
Calik Holding employs more than 20,000 people in its business enterprises in
16 countries within the sectors of energy, telecom, textile, construction,
finance, media, and mining.
Calik Holding, operating in a region extending from Central Asia to North
Africa and from Middle East to the Balkans, has approximately 3 billion USD
annual turnover. The Group's, consolidated asset size is approximately 7
billion USD and is currently working on project portfolio worth 20 Billion
As a result of its active involvement in the domestic and foreign tenders,
Calik Group has incorporated Albtelecom, the land line operator and internet
supplier of Albania in 2007, the Turkuvaz Media Group, one of the two largest
media enterprises of Turkey in 2008, and Yesilırmak Electricity Distribution
Inc. (YEDAS), with electric distribution in 5 major cities of Turkey in 2010,
and has recently begun to construct two power plants with a combined 2,000 MW
generation capacity in Iraq.
Calik Holding has become one of the leading Turkish investors in Central Asia
and the Balkans as well as one of the largest employers in Turkey. Calik
Holding has established international collaborations with many global and
prestigious companies such as Rosneft, Initec Energia, Eni, Mitsubishi, EBRD,
EWE, General Electric, Alacer Gold, Qatar Holding and Turk Telekom.
The Group makes the best of combining the entrepreneurial and productive
qualities of its rich corporate culture to remain among the leading and
prevailing actors in its primary business fields.
About Zinco do Brasil, Inc.
Zinco do Brasil, Inc. is a Brazilian-American junior mining company with its
sole focus on exploring, developing and operating world-class mining assets in
Brazil. Through its fully-owned subsidiary Zinco do Brasil Mineracao Ltda.,
the Company owns 30 mineral rights for a total area of 44,665 hectares in the
Brazilian state of Minas Gerais. The mineral rights are split between two
projects: "Salobro", which consists of 2 mining rights for an area of 1,685
hectares; and "Gorutuba" with 28 mining rights for an area of 42,980 hectares.
Certain statements in this news release are forward-looking statements. Words
such as "expects", "intends", "plans", "proposes", "may", "could", "should",
"anticipates", "estimates", "likely", "possible", "potential", "believes" and
words of similar import may identify forward-looking statements. Such
statements are based on management's and the Company's independent mining
consultant's current expectations, estimates and projections about the
companies' businesses, are not guarantees of future performance and involve
certain risks and uncertainties that are difficult to predict. Actual results
could vary materially from the description contained herein due to many
factors beyond the control of either of the companies, including, but not
limited to, the successful completion of the merger; the combined company's
ability to raise the required additional capital to develop its mining assets
and to identify other acquisition and/or joint venture opportunities in the
mining sector, and to establish the technical and managerial infrastructure
necessary to take advantage of, and successfully participate in, such
opportunities; future economic conditions; demand for manganese and other
minerals the company may seek to extract; political stability; and changes in
governmental regulations, and financial capabilities of the Company.
Additional information on risks and other factors that may affect the business
and financial results of Zinco do Brasil and the combined company can be found
in filings of Zinco do Brasil with the U.S. Securities and Exchange
Commission. The Company encourages any current or potential shareholder to
read all the public filings before making a decision to invest in the shares
of any public company.
Zinco do Brasil, Inc.
100 Park Avenue
New York, NY 10017 USA
T:+1 (212) 984-0628
F:+1 (212) 880-6499
SOURCE Zinco do Brasil, Inc.
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