REG - Beowulf Mining PLC - Appointment of Ed Bowie as Chief Executive Officer

Beowulf MiningAnnouncement

28/06/2023 07:00

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RNS Number : 1037E  Beowulf Mining PLC  28 June 2023

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

28 June 2023

Beowulf Mining plc

 

("Beowulf" or the "Company")

 

Beowulf announces the appointment of Ed Bowie as Chief Executive Officer

 

Beowulf is pleased to announce the appointment of Ed Bowie as the Company's
new CEO. He will also be appointed to the Board. Ed has extensive experience
in the international mining industry, where he has worked with strategic
evaluations of mining and mineral projects, raising capital and as an advisor
and fund manager across a broad range of commodities and jurisdictions.

Ed Bowie holds an MA Honours Degree in Geology from Oxford University and an
MSc from Imperial College in London. He has worked for nearly 30 years in the
international mining industry, primarily focused on strategic evaluations of
mining and mineral projects, business development, raising capital, M&A
and fund management. For the last few years, he has worked in corporate
development roles for mining and energy companies, with a focus on
sustainability, growth strategies and financing solutions.

Ed Bowie will take over as CEO on 7 August 2023.

Speaking on the appointment, Ed Bowie said:

"I was primarily drawn to Beowulf because of its high-quality mineral assets
in tier one jurisdictions. The three assets bring significant optionality to
Beowulf with each having the potential to add significant value, not only for
Beowulf shareholders but also for the broader stakeholders.

"High-quality mineral deposits are scarce, and we are seeing increasing demand
for projects that support the decarbonisation agenda driven by investment from
end-users whether it be car makers or mobile phone or battery manufacturers.
This trend will only become stronger and, in my opinion, Beowulf, with its
high-quality assets, is very well positioned to benefit.

"When it comes to my role at Beowulf Mining, I have extensive experience of
analysing mining projects in order to optimise their value and growth. So, I
look forward to familiarising myself with the operations and the local
conditions, and evaluating our projects with new, fresh eyes."

Johan Röstin, Chairman of Beowulf, said:

"I am delighted that Ed has agreed to join the Company. His expertise and
experience are perfectly suited for the stage in which Beowulf currently finds
itself.

"This experience will be critically important in the strategic review of our
assets that is currently underway. We have identified several potential ways
to optimise the development and ultimate value of our assets and need to
ensure we study and incorporate the findings into our development plans. This
strategic review will take approximately six months to complete, and we then
look forward to updating the market on our revised development plans and
timetable including the environmental permitting process and application
which is no longer expected to be filed this year."

 

AIM Rules Disclosures

Mr Edward Colin Bowie, aged 50, currently holds or has held the following
directorships and partnerships in the last five years:

 

 Current directorships/partnerships  Previous directorships
 Cora Gold Ltd                       None
 Impact Capital Ltd
 Amphi Capital Ltd

 

Mr Bowie holds no ordinary shares or options in the Company.

 

Other than as provided in this announcement, no other disclosures in relation
to Mr Bowie are required under Rule 17 and schedule 2 (g) of the AIM Rules for
Companies.

 

 

Enquiries:

 Beowulf Mining plc
 Daniel Lagerqvist                          Tel: +46 (0) 79 060 56 62
 SP Angel

 (Nominated Adviser & Broker)
 Ewan Leggat / Stuart Gledhill / Adam Cowl  Tel: +44 (0) 20 3470 0470
 BlytheRay
 Tim Blythe / Megan Ray                     Tel: +44 (0) 20 7138 3204

 

About Beowulf Mining plc

Beowulf Mining is a mining company with main activities in exploration and
development in Sweden, Finland and Kosovo. Beowulf's portfolio is diversified
by commodity, geography and stage of development of the projects. Development
consists primarily of iron ore, graphite, gold and other base metals. Beowulf
Mining was founded in 1988 and is headquartered in London, England.

 

Cautionary Statement

Statements and assumptions made in this document with respect to the Company's
current plans, estimates, strategies and beliefs, and other statements that
are not historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are not
limited to, those using words such as "may", "might", "seeks", "expects",
"anticipates", "estimates", "believes", "projects", "plans", strategy",
"forecast" and similar expressions. These statements reflect management's
expectations and assumptions in light of currently available information. They
are subject to a number of risks and uncertainties, including, but not limited
to , (i) changes in the economic, regulatory and political environments in the
countries where Beowulf operates; (ii) changes relating to the geological
information available in respect of the various projects undertaken; (iii)
Beowulf's continued ability to secure enough financing to carry on its
operations as a going concern; (iv) the success of its potential joint
ventures and alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results could differ
materially from those presented and forecast in this document. Beowulf assumes
no unconditional obligation to immediately update any such statements and/or
forecast.

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