Central Asia Metals completes acquisition of Cygnus, adds former Cygnus MD to board
Aim- and now TSX-listed Central Asia Metals has concluded its acquisition of Cygnus Metals, which adds the Chibougamau copper/gold project to the enlarged Central Asia Metals group.
Cygnus shareholders were entitled to receive 0.06 new Central Asia Metals shares for each Cygnus share held.
Central Asia Metals has also officially appointed Ernest Mast to its board as an independent nonexecutive director. Prior to the Cygnus acquisition, Mast was a nonexecutive director of Cygnus and his previous roles included MD of Cygnus. He brings more than 30 years' experience in the mining industry to his position.
"Mast's extensive industry experience will add to the board’s capabilities, and his long association with the Chibougamau project and his relationships with key stakeholders, both locally and in Canada more generally, will be invaluable as we advance the Chibougamau project towards a development decision," says Central Asia Metals nonexecutive chairperson Nick Clarke.
The Chibougamau project is located in central Québec, about 480 km north of Montreal within the Eeyou Istchee James Bay region.
