SRHI Inc. Appoints New CEO and Proposes Name Change TORONTO, May 12, 2021 (TSXV: SRHI) - SRHI Inc. ("SRHI" or the "Company”) is pleased to announce that its upcoming virtual annual and special meeting of shareholders (“AGM”) will be held on June 2, 2021. Shareholders will be asked to approve a name change and expanded board of directors (the “Board”). In addition, Terry Lyons will step down as Interim CEO and be succeeded by Michael Staresinic, the Company’s current President and CFO. Mr. Lyons will remain on as independent Chair of the Board.
“Michael has been part of this Company since 2013 as CFO and most recently as President and CFO,” stated Terry Lyons, Interim CEO of the Company. “His deep knowledge of the Company and its majority-owned asset, Minera Tres Valles (“MTV”), made him a natural choice for the role. Over the past year alone, Michael has successfully steered MTV through a restructuring, managed the sales process of several legacy investments, raised capital to support MTV and transitioned the Company to focus on copper mining while exercising all duties of a public-company CFO. To aid him in this transition, the Company has initiated a search for a new CFO and I will continue solely as the independent Chairman.”
At the Company’s upcoming AGM, the Board will be seeking approval of a special resolution that will permit the Company to change its name to “Three Valley Copper Corp.” or such other name as the Board, in its sole discretion, deems appropriate. The proposed new name reflects the Company’s sole business focus and is symbolic of its majority-owned copper producing operating mine, Minera Tres Valles in Salamanca, Chile.
The Board is also proposing to the shareholders to elect Joe Phillips, current COO of MTV, to the Board. Mr. Phillips would not be considered an independent director.
Mr. Phillips is a senior mining executive with 48 years of experience in the construction, commissioning and operation of mining projects in 13 countries (7 in Latin America) on 5 continents. He has directed the construction, commissioning and operation of 11 plants and mining operations. Prior to MTV, he held senior executive roles such as Chairman, COO, VP Operations, Chief Restructuring Officer, Chief Development Officer and Senior VP Development.
Mr. Phillips is a Registered Professional Mining Engineer, graduating from the Colorado School of Mines ("CSM"), and with graduate studies in Engineering Management at the University of South Florida. At CSM he was the “Outstanding Graduate in Engineering Geology”, a member of Tau Beta Pi engineering honorary, Sigma Gamma Epsilon service honorary, and a Distinguished Military Graduate.
More information can be found in the Company’s recently filed Management Information Circular on SEDAR (www.sedar.com) or its website (www.srhi.ca/investor-information/agm/).
About SRHI Inc.
SRHI, headquartered in Toronto, Ontario, Canada is focused on the copper production growth from, and exploration of, its primary asset, MTV. Located in Salamanca, Chile, MTV is 70% owned by the Company and MTV's main assets are the Minera Tres Valles mining complex and its 46,000 hectares of property. For more information about SRHI, please, please visit www.srhi.ca.
