Vancouver British Columbia – Cipher Resources Inc. (the “Company”) is pleased to announce the appointment of Guy Philippe Bertin to the board of directors of the company, subject to approval of the TSX Venture Exchange.
Mr Bertin graduated from Sciences-Po Paris (IEP) in 1988 where he earned two Masters of Finance degrees. He has been a member of the Société Française des Analystes Financiers since 1991 and was a research analyst for 14 years from 1989 to 2004, including 6 years at Jefferies where he followed the commodities sector until early 2004. Mr Bertin launched and managed two Autorité des Marchés Financiers commodities funds at Société Privée de Gestion de Patrimoine from 2004 to 2008. In 2006, one of the funds achieved the Best Performance ranking within its category by Boursorama/Morningstar. Mr Bertin’s second fund was ranked 2nd out of 2242 funds in France at the end of 2007. Mr Bertin has managed more than 400 million Euros in commodities related equity investments and has underwritten over three hundred (300) commodities related deals for these funds. Mr Bertin is based in London, England.
Elena Tanzola President and CEO of Cipher Resources commented “We are extremely pleased to welcome Guy Philippe to our board of directors. His extensive experience and connections within the capital markets financing sector in Europe will be an invaluable addition to our team and growth of the Company.”
The Company also announces the resignation of Jeremy South from the board of directors. The Company would like to thank Mr. South for his service on the board and wish him success with his other business ventures.
Additionally, the Company announces that further to its news release of January 29, 2018, the Company is proceeding with the proposed private placement of up to 35 million units of the company at a price of 10 cents per unit, for total gross proceeds of $3.5 million. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into one common share at a price of 15 cents per warrant share, for a period of 36 months following the closing date of the offering. The proceeds of the offering will be used for
working capital and continuing project evaluation expenses. Finders’ fees may be payable to parties which introduce the company to subscribers, in accordance with the policies of the TSX Venture Exchange. Any shares issued under the offering will be subject to a four-month hold period. Completion of the offering and payment of any finders’ fees are subject to TSX Venture Exchange approval.
About Cipher Resources Inc.
Cipher Resources is primarily focused on lower mid-market precious and base metal mining projects, specifically those in production and at a late stage of development. The company is listed on the TSX Venture Exchange under the symbol CIFR.V.
On Behalf of the Board of CIPHER RESOURCES INC.
Signed: “Elena Tanzola”
Elena Tanzola, President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.
This News Release contains forward-looking statements including, but not limited to, comments regarding implementation of a share consolidation and completion of a private placement. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.