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Mark Bennett founded Sirius Resources (acquired for AUD$1.8 billion in 2015) and oversaw the development of the Nova-Bollinger nickel-copper mine in Western Australia.
Indian Head, SK – TheNewswire - September 22, 2023 – Ramp Metals Inc. (“Ramp” or the “Company”), a battery and base metals exploration company with a focus on nickel and lithium assets, is pleased to announce that the Company has appointed Dr. Mark Bennett as a Strategic Advisor.
Dr. Bennett is a prominent, PhD-qualified geologist in the global mining industry with over 30 years of experience in capital raising, mineral exploration and establishing mines, having held various technical, operational, executive and board roles in Australia, Canada, West Africa, Europe and the United States.
With a proven track record in the mining industry, Dr. Bennett will draw from his expertise and extensive experience and is expected to play a pivotal role in stewarding Ramp in advancing its flagship Rottenstone SW property. Dr. Bennett will be advising on all aspects of geology while providing guidance to the Company’s management team through the discovery process.
“We are thrilled to have Mark join the Ramp team at such a crucial time in the Company’s history,” commented VP of Exploration, Garrett Smith. “He brings a wealth of experience in the discovery process and, specifically, nickel sulphide deposits. With our Rottenstone Eye target showing striking similarities to the setting of the Nova-Bollinger deposit, we could not think of a better strategic fit for our team than the geologist who was instrumental in the discovery of Nova.”
Throughout his career, Dr. Bennett has been instrumental in several discoveries which include the staking and initial drilling of the Wahgnion gold mine in Burkina Faso for Western Mining Corporation, the discovery and drill out of the Thunderbox gold mine and Waterloo nickel mine in Australia for LionOre Mining, and most notably, the Nova-Bollinger nickel-copper mine in Australia for Sirius Resources. He has been involved in raising over $1 billion in debt and equity financing for funding exploration and development projects and overseen mergers, demergers, acquisitions, investments and divestments.
Dr. Bennett previously served as the founding CEO and Managing Director of Sirius Resources, a company that raised approximately $900 million in equity and debt financing to develop the Nova-Bollinger mine. During his tenure, Sirius was regarded as one of the best performing companies listed on the Australian Securities Exchange (ASX), and was acquired for a total of AUD$1.8 billion in 2015. At Sirius, he was directly responsible for the discovery of Nova and the subsequent drill out, feasibility, financing, permitting and construction of the mine. He is currently the Chairman of the Board of Directors for two ASX-listed companies, namely Falcon Metals Limited and S2 Resources Ltd and he is a former director of Todd River Resources Limited and IGO Limited.
Dr. Bennett is a Fellow of the Australian Institute of Geoscientists and the Geological Society of London, and a Member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Company Directors. He is a two-time winner of the Australian Mining and Exploration Companies “Prospector Award” for his discoveries and was named “Legend in Mining” at the 2014 International Mining And Resources Conference in Melbourne.
Qualifying Transaction
On July 28, 2023, the Company entered into a binding merger agreement (the “Merger Agreement”) with Anacott Acquisition Corporation (TSXV: AAC.P) (“Anacott”) and 1429494 B.C. Ltd., a wholly-owned subsidiary of Anacott, in respect of an arm’s length reverse-takeover transaction of Anacott by Ramp (the “Proposed Transaction”), which will constitute the Qualifying Transaction (as such term is defined in Policy 2.4 - Capital Pool Companies of the Corporate Finance Manual of the TSX Venture Exchange) of Anacott. Further information regarding the Qualifying Transaction can be found in Anacott’s news release dated July 28, 2023, which is available under Anacott’s SEDAR+ profile and at the following URL: https://www.newsfilecorp.com/release/175330.
Financing Overview
The completion of the Proposed Transaction is subject to the satisfaction certain conditions, including but not limited to: (i) the completion of a concurrent financing for gross proceeds of a minimum of $1,000,000 (the "Concurrent Financing") through the issuance of either units of Anacott (each, an "Anacott Unit") at a price of $0.20 per Anacott Unit, or and/or subscription receipts of Ramp (each, a "Ramp Subscription Receipt") at a price of $0.20 per Ramp Subscription Receipt; (ii) the completion of the Consolidation (as defined herein); and (iii) the receipt of all requisite regulatory, stock exchange, or governmental authorizations and consents, including the approval of the Exchange. Each Anacott Unit issuable in the Concurrent Financing will consist of one post-Consolidation common share of Anacott (each, an "Anacott Share") and one half of one share purchase warrant, with each whole warrant exercisable into one post-Consolidation Anacott Share at a price of $0.35 per Anacott Share for a period of 24 months, while each Ramp Subscription Receipt will be convertible into one Anacott Unit immediately prior to the closing of the Proposed Transaction.
The completion of the Proposed Transaction is subject to the satisfaction of certain conditions, and there is no guarantee that the Proposed Transaction will be completed on the terms described in the Merger Agreement or at all.
About Ramp Metals Inc.
Ramp is a battery and base metals exploration company with two flagship properties located in northern Saskatchewan and one property in Nye County, Nevada. The management team is passionate about green field exploration and new technologies. The vision of Ramp is to make the next big discovery required to fuel the green technology movement.
For further information, please contact:
Jordan Black
Chief Executive Officer
Prit Singh
Director
(905) 510-7636
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, or variations of such words and phrases, or may contain statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the completion of the Proposed Transaction; the ability of Ramp and Anacott to complete the terms on which the Proposed Transaction is intended to be completed, the ability of Ramp and Anacott to obtain regulatory and shareholder approvals; and other factors.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements.
Although Ramp has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Ramp does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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