Scottie Resources Announces Engagement of kevin Jennings

Source: www.gulfoilandgas.com 10/1/2024, Location: North America

Scottie Resources Corp. ("Scottie" or the "Company") (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8) is pleased to announce the engagement of Kevin Jennings as a strategic advisor to the Company.

Mr. Jennings is a distinguished international mining finance executive, renowned for his robust expertise in financial management, reporting, and strategic corporate transactions. With a proven track record in leading finance for feasibility studies, restructuring, and turnaround initiatives, he brings invaluable insight to the industry.

As Chief Financial Officer, Mr. Jennings successfully spearheaded the initial public offering of African Barrick Gold, showcasing his exceptional leadership and strategic acumen. His impressive portfolio includes senior roles at Barrick Gold as Vice President of Corporate Development, Xstrata Nickel as Director of Business Optimization, and Falconbridge as Director of Corporate Development.

Transitioning from large international corporations, Mr. Jennings has dedicated his career to driving the success of junior mining businesses in emerging markets, including Russia, the DRC, and Mexico. His expertise in complex financial restructuring and hands-on operational management has been instrumental in advancing development projects to production in these challenging environments.

Mr. Jennings is not just a finance leader; he is a catalyst for growth and innovation in the mining sector.

"We are very pleased to welcome Kevin Jennings as an advisor to Scottie Resources," commented Brad Rourke, President and CEO. "Kevin has been a long-term, supportive shareholder and brings a wealth of experience and strategic insight to our team. His deep understanding of our projects and commitment to our growth make him a valuable addition as we continue advancing our assets towards the next stage of development."

Early Warning

On September 16, 2024, Mr. Jennings purchased 80,000 common shares (the "Shares") in the open market. The 80,000 Shares were purchased at a price of $0.175 per Share for total consideration of C$14,000.00 (the "Acquisition").

Prior to the Acquisition, Mr. Jennings beneficially owned, controlled, or directed an aggregate of 29,912,000 Shares and 783,000 share purchase warrants, representing approximately 9.977% of the outstanding Shares of Scottie.

Immediately following the Acquisition Mr. Jennings beneficially owned, controlled, or directed an aggregate of 29,992,000 Shares and 783,000 share purchase warrants, representing approximately 10.003% of the outstanding Shares of Scottie on a non-diluted basis and approximately 10.238% on a partially diluted basis, assuming Mr. Jennings' exercise of his warrants.

Mr. Jennings may, depending on market or other conditions, increase or decrease his beneficial ownership, control or direction over, or exercise his current rights to acquire, Shares through market transactions, private agreements or otherwise.


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