Cyprium Mining Corporation Provides Corporate Update
Montreal, Quebec--(Newsfile Corp. - January 10, 2017) - Cyprium Mining Corporation (TSXV: CUG) ("Cyprium" or the "Company") announces the appointment of Mr. Patrick Tributsch as director. Mr. Tributsch is currently Executive Director for UBS Switzerland. He has studied economics and corporate finance whilst specializing in the banking industry. Mr. Tributsch started his career in the banking industry in 1993. The board of director now consists of Mr. Alain Lambert, Adrian Morger and Patrick Tributsch. Trading in the Company's common shares on the TSX Venture Exchange have been recently halted given the fact that the Company only had two directors.
As at December 31st, 2016, Cyprium had invested approximately US $1.7 million in the Potosi silver mine joint venture. As per the Company's disclosure in its July 28th and October 30th, 2016 news releases, Cyprium had to invest US $2.5 million in order to retain its initial ownership of 53%. Given the investments made as at December 31st, 2016, the Company expects, subject to the investments made being audited in accordance to the joint venture agreement, to be approximately 36%. Under the terms of the joint venture agreement, Cyprium can elect to increase its ownership in the joint venture by making further investments. Cyprium continues to evaluate financing opportunities in order to continue to fund the development of the Potosi mine located in the State of Chihuahua in Northern Mexico.
About Cyprium Mining Corporation
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