Sun Peak Metals Corp.
VANCOUVER, BC / ACCESSWIRE / July 22, 2021 / Sun Peak Metals Corp (the "Company" or "Sun Peak") (TSXV:PEAK)(OTCQB:SUNPF) provides an update on the Company's activities in Ethiopia and is pleased to announce Technical Advisory Board appointments.
"The Company remains committed and excited to continue exploration on the Shire Project" states Greg Davis, Sun Peak President and CEO. "Our team has over two decades experience in this region and has learned that patience is required in times like these. We take comfort in knowing that our force majeure declaration has been recognized by the Ministry of Mines and Petroleum and our efforts to conserve cash will ensure that we will have the funding and opportunity to build assets through exploration when it is safe to do so."
Force Majeure
In late November 2020, the Company declared force majeure on all four of its exploration licenses by notification to Ethiopia's Ministry of Mines and Petroleum. In March 2021, the Company received letters from the Ministry of Mines and Petroleum stating that the Ministry has accepted the force majeure declaration on all four exploration licences. During the force majeure event all work and contractual commitments on the projects are deferred. Currently, all exploration work on the Shire Project remains suspended due to continued unrest in the Tigray Region of Ethiopia which began in November 2020.
Technical Advisory Board Appointments
The Company is pleased to announce that it has appointed Zelalem Yibrah and David Middleditch to the Sun Peak Technical Advisory Board.
Zelalem Yibrah is a legal professional with over 15 years of experience. Mr. Zelalem headed the Mining and Energy Practices in one of DLA Piper Africa member firms, where he advised and assisted a host of multinational mining companies on matters involving Ethiopian jurisdictions. Mr. Zelalem graduated summa cum laude with a LLB from Bahir Dar University and studied for his masters at the Royal Institute of Technology (Sweden). Mr. Zelalem also authored the Ethiopian Chapter of the Mining Law on the 2016 International Comparative Legal Guide.
David Middleditch has managed and consulted on more than 50 development projects, ranging in scale from preliminary economic assessments to full scale feasibility studies. In 2011, he co-founded Blue Coast Research on Vancouver Island, and served as VP of Operations of the metallurgical testwork laboratory until 2017. Prior to joining Blue Coast, Mr. Middleditch was the metallurgical lead for the Lalor project at Hudbay Minerals and spent five years refining his leadership skills as Laboratory Supervisor and Project Manager at Xstrata Process Support (formerly Falconbridge) in Ontario.
Mr. Middleditch has worked in many remote locations and operations globally, including extensive experience in East Africa. Now located in Ontario, Mr. Middleditch founded Libertas Metallurgy Ltd in 2017, and serves as Principal Metallurgist and President of the company, which provides mineral process consulting services to the global mining industry.
"The addition of Zelalem and Dave to the technical advisory board will help Sun Peak prepare and execute on work when it is safe to resume exploration in the Tigray region," said Mr. Davis, "We are excited that these two experienced professionals are willing to help the Company succeed in our goal of making of a significant discovery and development of a large-scale project in Ethiopia."
Sun Peak has granted 225,000 stock options as compensation for the new appointments to the Sun Peak Technical Advisory Board at an exercise price of CDN$0.35, vesting immediately, expiring five years from the date of grant.
Current Cash
The Company currently has approximately CDN$8.5 million cash and has been working to conserve cash for when it can resume work on the Shire Project.
New Exploration Licence Applications
Sun Peak has continued to investigate other potential properties and opportunities in Ethiopia and currently has two new exploration license applications pending with the Ministry of Mines and Petroleum.
Sun Peak will provide further details when available.
ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.
Greg Davis
President, CEO & Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Greg Davis
(T): +1 (604) 999 1099
(E): info@sunpeakmetals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, "forward-looking statements"), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future . Such information or statements may include, but are not limited to, statements with respect to the state of emergency in Ethiopia being revoked and the resumption of exploration on the Shire Project, the goal of making a significant discovery and the development of a large-scale project in Ethiopia, and identifying other potential properties and opportunities in Ethiopia. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Sun Peak will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements include the duration of force majeure preventing the execution of the planned exploration programs at the Shire Project and that once conducted do not meet expected results. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Sun Peak assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Prospectus filed with Canadian security regulators.
SOURCE: Sun Peak Metals Corp.
View source version on accesswire.com:
https://www.accesswire.com/656577/Sun-Peak-Metals-Provides-Corporate-Update-and-Announces-Technical-Advisory-Board-Appointments
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
GA-ASI and Calidus Sign MOU To Collaborate on Co-Production of MQ-9B and Gambit Collaborative Combat Aircraft20.1.2026 18:00:00 CET | Press release
ABU DHABI, UAE / ACCESS Newswire / January 20, 2026 / General Atomics Aeronautical Systems, Inc. (GA-ASI), the world leader in unmanned aircraft systems, and Calidus Aerospace, one of the leading defense and manufacturing companies, have signed a Memorandum of Understanding (MOU) to collaborate on the prospective co-production of MQ-9B Remotely Piloted Aircraft and Gambit Collaborative Combat Aircraft (CCA) in the UAE, as well as command and control and battle management systems. The agreement was signed by GA-ASI President David R. Alexander and Dr. Khalifa Murad Alblooshi, Managing Director and CEO of Calidus Holding Group, on the sidelines of the UMEX and SimTEX 2026 taking place January 20-22, 2026. The MOU provides a framework for cooperation between GA-ASI, GA-Intelligence, and Calidus where all parties will look to collaborate on programs in the areas of airframe manufacturing, final assembly, test and checkout, as well as flight operational test and acceptance. "Working with pa
Vossen Capital Management Secures £200 Million in Pre-IPO Investment Commitments20.1.2026 15:20:00 CET | Press release
Vossen Capital Management Ltd ("Vossen Capital" or the "Company"), a specialist investment firm focused on fixed income and private market opportunities, announces that it has secured £200 million in committed capital for its Pre-IPO Investment Programme. LONDON, UK / ACCESS Newswire / January 20, 2026 / Highlights: £200 million committed to Pre-IPO allocations across technology, healthcare, and sustainable infrastructure sectors Expanded institutional partner network providing enhanced deal flow access Strong investor demand driven by track record of successful Pre-IPO placements Programme offers qualified investors early-stage exposure to growth companies ahead of public listings The capital commitments have been secured from a combination of institutional investors, family offices, and high-net-worth individuals seeking exposure to private market opportunities typically reserved for venture capital and institutional funds. Jack Vossen, Head of Private Equity at Vossen Capital, comme
Innodata Awarded Prime Contract Position on U.S. Missile Defense Agency's IDIQ SHIELD Program20.1.2026 14:30:00 CET | Press release
NEW YORK CITY, NY / ACCESS Newswire / January 20, 2026 / INNODATA INC. (Nasdaq:INOD) today announced that it was awarded a contract for the Missile Defense Agency Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) indefinite-delivery/indefinite-quantity (IDIQ) contract. The SHIELD program is designed to drive rapid innovation and deliver next-generation capabilities that strengthen the nation's multi-layered homeland defense architecture. As part of the broader Golden Dome strategy, this selection positions Innodata to compete for future task orders across research, development, engineering, prototyping, and operations of critical Missile Defense Agency systems that support U.S. national security objectives. The award was made as part of a list of companies eligible to compete under the program publicly announced by the U.S. Government on 15-Jan-26. "We are proud to support our nation's mission to defend the homeland," said Vinay Malkani, SVP Federal of Innodata. "This co
Karbon-X Secures up to $25 Million in Strategic Financing to Accelerate Growth and Expand Global Climate Solutions Platform20.1.2026 14:30:00 CET | Press release
CALGARY, AB / ACCESS Newswire / January 20, 2026 / Karbon-X Corp. (OTCQX:KARX), a vertically integrated climate-solutions company operating across compliance and voluntary carbon markets, today announced that it has secured access to up to $25 million in discretionary financing, providing the Company with enhanced flexibility to scale its platform, deepen market participation, and capitalize on strategic growth opportunities as global carbon markets continue to mature. The financing supports the Company's ability to execute its growth strategy with discipline, while remaining responsive to evolving regulatory frameworks and market demand. "This financing enhances our ability to execute with focus and flexibility," said Chad Clovis, Chief Executive Officer of Karbon-X. "Access to capital allows us to scale areas of the business that are already performing, selectively invest in growth, and pursue opportunities aligned with our long-term value creation strategy." The financing is intende
Polaris Renewable Energy Declares Quarterly Dividend20.1.2026 13:50:00 CET | Press release
TORONTO, ONTARIO / ACCESS Newswire / January 20, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris Renewable Energy" or the "Company"), is pleased to announce that its board of directors has declared a quarterly dividend of US$0.15 per common share outstanding. This dividend will be paid on February 27th to shareholders of record at the close of business on February 17th. The dividend is an "eligible dividend" as designated for Canadian federal, provincial, and territorial income tax purposes. The board of directors of Polaris Renewable Energy remains committed to paying a quarterly dividend and will evaluate further dividend increases, as appropriate, going forward. About Polaris Renewable Energy Inc. Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition. The Compan
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom