SCOTTIE RESOURCES ANNOUNCES ENGAGEMENT OF KEVIN JENNINGS

Rhea-AI Summary

Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) has engaged Kevin Jennings as a strategic advisor. Jennings, a renowned international mining finance executive, brings expertise in financial management, reporting, and strategic corporate transactions. His experience includes leading the IPO of African Barrick Gold and holding senior roles at Barrick Gold, Xstrata Nickel, and Falconbridge.

Additionally, Kevin Jennings purchased 80,000 common shares at $0.175 per share, increasing his ownership to approximately 10.003% of Scottie's outstanding shares. The company has also granted 2,100,000 stock options to directors, officers, and consultants, exercisable at $0.165 per share for five years.

Positive

• Engagement of Kevin Jennings, an experienced mining finance executive, as a strategic advisor
• Increased insider ownership with Kevin Jennings purchasing 80,000 shares, now owning 10.003% of outstanding shares
• Grant of 2,100,000 stock options to directors, officers, and consultants, aligning their interests with shareholders

Negative

• None.

News Market Reaction

+7.62%

1 alert

+7.62% News Effect

On the day this news was published, SCTSF gained 7.62%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, BC, Oct. 1, 2024 /PRNewswire/ - Scottie Resources Corp. ("Scottie" or the "Company") (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8) is pleased to announce the engagement of Kevin Jennings as a strategic advisor to the Company.

Mr. Jennings is a distinguished international mining finance executive, renowned for his robust expertise in financial management, reporting, and strategic corporate transactions. With a proven track record in leading finance for feasibility studies, restructuring, and turnaround initiatives, he brings invaluable insight to the industry.

As Chief Financial Officer, Mr. Jennings successfully spearheaded the initial public offering of African Barrick Gold, showcasing his exceptional leadership and strategic acumen. His impressive portfolio includes senior roles at Barrick Gold as Vice President of Corporate Development, Xstrata Nickel as Director of Business Optimization, and Falconbridge as Director of Corporate Development.

Transitioning from large international corporations, Mr. Jennings has dedicated his career to driving the success of junior mining businesses in emerging markets, including Russia, the DRC, and Mexico. His expertise in complex financial restructuring and hands-on operational management has been instrumental in advancing development projects to production in these challenging environments.

Mr. Jennings is not just a finance leader; he is a catalyst for growth and innovation in the mining sector.

"We are very pleased to welcome Kevin Jennings as an advisor to Scottie Resources," commented Brad Rourke, President and CEO. "Kevin has been a long-term, supportive shareholder and brings a wealth of experience and strategic insight to our team. His deep understanding of our projects and commitment to our growth make him a valuable addition as we continue advancing our assets towards the next stage of development."

Early Warning

On September 16, 2024, Mr. Jennings purchased 80,000 common shares (the "Shares") in the open market. The 80,000 Shares were purchased at a price of $0.175 per Share for total consideration of C$14,000.00 (the "Acquisition").

Prior to the Acquisition, Mr. Jennings beneficially owned, controlled, or directed an aggregate of 29,912,000 Shares and 783,000 share purchase warrants, representing approximately 9.977% of the outstanding Shares of Scottie.

Immediately following the Acquisition Mr. Jennings beneficially owned, controlled, or directed an aggregate of 29,992,000 Shares and 783,000 share purchase warrants, representing approximately 10.003% of the outstanding Shares of Scottie on a non-diluted basis and approximately 10.238% on a partially diluted basis, assuming Mr. Jennings' exercise of his warrants.

Mr. Jennings may, depending on market or other conditions, increase or decrease his beneficial ownership, control or direction over, or exercise his current rights to acquire, Shares through market transactions, private agreements or otherwise.

This press release is being disseminated as required by National Instrument 62–103 – The Early Warning System and Related Take Over Bids and Insider Reporting Issuers in connection with the filing of an early warning report. An early warning report will be electronically filed by Mr. Jennings with the applicable securities commission in each jurisdiction where Scottie is reporting and will be available on Sedar Plus at www.sedarplus.ca.

Grant of Stock Options

The Company also announces that it has granted 2,100,000 options to acquire common shares to certain directors, officers, and consultants of the Company. The options are exercisable at a price of $0.165 per share and are valid for a period of five years. 

ABOUT SCOTTIE RESOURCES CORP.

Scottie owns a 100% interest in the Scottie Gold Mine Property which includes the Blueberry Contact Zone and the high-grade, past-producing Scottie Gold Mine. Scottie also owns 100% interest in the Georgia Project which contains the high-grade past-producing Georgia River Mine, as well as the Cambria Project properties and the Sulu and Tide North properties. Altogether Scottie Resources holds approximately 58,500 hectares of mineral claims in the Stewart Mining Camp in the Golden Triangle.

The Company's focus is on expanding the known mineralization around the past-producing mines while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource.

All of the Company's properties are located in the area known as the Golden Triangle of British Columbia which is among the world's most prolific mineralized districts.

Forward Looking Statements

This news release may contain forward‐looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.

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SOURCE Scottie Resources Corp.

FAQ

Who is the new strategic advisor for Scottie Resources (SCTSF)?

Kevin Jennings, a distinguished international mining finance executive, has been engaged as a strategic advisor to Scottie Resources Corp.

How many shares did Kevin Jennings purchase in Scottie Resources (SCTSF) on September 16, 2024?

Kevin Jennings purchased 80,000 common shares of Scottie Resources Corp. at a price of $0.175 per share for a total consideration of C$14,000.00.

What is Kevin Jennings' total ownership percentage in Scottie Resources (SCTSF) after his recent purchase?

After the recent purchase, Kevin Jennings owns approximately 10.003% of Scottie Resources Corp.'s outstanding shares on a non-diluted basis and 10.238% on a partially diluted basis.

How many stock options did Scottie Resources (SCTSF) grant to its directors, officers, and consultants?

Scottie Resources Corp. granted 2,100,000 stock options to certain directors, officers, and consultants, exercisable at $0.165 per share for a period of five years.