Business
Para Resources Announces Focus on South America
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2020) - Para Resources Inc. (T...
About this update from Soma Gold Corp.
[{"type":"text","content":"Para Resources Announces Focus on South AmericaAlso Announces Management ChangesVancouver, British Columbia--(Newsfile Corp. - February 19, 2020) - Para Resources Inc. (TSXV: PBR) (WKN: A14YF1) (OTC: PRSRF) (the \"Company\" or \"Para\") announces that the focus will be on the Company's Colombia assets and other opportunities in South America. As such, the Company announces that Mr. Javier Cordova has been appointed by the Board of Directors to serve as the President & CEO of the Company. C. Geoffrey Hampson has resigned as the Chief Executive Officer, Ian Harris has resigned as the President and as a Director and Randy Martin has resigned as Chief Operating Officer of the Company. Mr. Hampson will remain the Executive Chairman of the Board of Directors.Mr. Cordova has been active with the Company as a consultant since early 2018. Previously, Mr. Cordova was the first Minister of Mining of Ecuador, serving from 2015 until 2018. Under his administration, the development of the Ecuadorian mining industry had been significant, positioning the country as the new mining frontier in the region. Prior to being Minister of Mining, Mr. Cordova held prominent positions as the Vice Minister of Mining and Vice Minister of the Interior.Mr. Hampson states, \"In the light of repositioning PARA Resources as a company focused solely on Latin America, the Board determined it was appropriate to have a South American-led management team with a regional point of view and strategy. Mr. Cordova has a lot of experience in the industry, in particular in South America dealing with ESG issues, governments and local communities. Mr. Cordova will be managing the proven management teams of Operadora along with Para's existing assets to continue to build on the goodwill we have built in the region and to focus our strategic growth in Colombia and elsewhere in South America.\" Mr. Cordova states, \"I look forward to leveraging the work that Para has done to rehabilitate the El Limon mill and acquire a significant holding of mineral rights in the surrounding region. Para has been working with local miners and the government to formalize current mining activities, which provides an environmentally friendly solution to traditional activities and has created economic benefits for all parties involved. This cooperation with the local communities and all levels o...