VANCOUVER, BRITISH COLUMBIA- January 20, 2017 – Ceylon Graphite Corp. (TSX-V: CYL) (“Ceylon” or the “Company”) announces it has appointed Abbey Abdiye to be Chief Financial Officer, replacing Bill Fleming. Mr. Fleming has also resigned as a director of the Company.
Mr. Abdiye has extensive experience in the financial sector, in both public and private companies. He is a Chartered Professional Accountant (CPA), and current CFO of reporting issuers, where he is responsible for all financial, fiscal management, regulatory compliance matters and reporting aspects of company operations. He also provides strategic guidance and direction in capital structuring, and is engaged in innovative financing programs that leverage sales and development.
The Company and its Board of Directors wishes to thank Mr. Bill Fleming for his valuable contributions to the Company, and continued success in future endeavors.
About the Company
The Company is a mineral exploration and development company that is focused on its graphite projects located in Sri Lanka.
For further information, please contact:
Company Contact
Bharat Parashar
Director
bharat.parashar@ ceylongraphite.com
Forward-Looking Information
This news release contains forward-looking information based on current expectations. Statements about the date of trading of the Company’s common shares on the TSXV, final regulatory approvals, the proposed use of proceeds from the Private Placement, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of the Company. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: the failure to obtain the required approval for the RTO; changes in laws; competition; changes in legislation, including environmental legislation, affecting the Company; and lack of qualified, skilled labour or loss of key individuals; political and social uncertainties; general economic and business conditions; and changes in the regulatory regime. The Company cautions the reader that the above list of risk factors is not exhaustive. The final exchange bulletin will not be issued if the TSXV determines that the Company has not met the conditions set out in the TSXV’s conditional approval letter. There can be no assurance that planned exploration will be completed as proposed or at all, or that economic resources will be discovered or developed on the graphite properties. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
