VANCOUVER, British Columbia, Oct. 16, 2020 (GLOBE NEWSWIRE) — HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”; OTC “HUDRF”) is pleased to announce that Bent Olsvig Jensen has been appointed Managing Director (MD) of Hudson Greenland A/S. Hudson Greenland holds the exploitation license for the White Mountain anorthosite mine in southwestern Greenland.
Bent has been a resident of Greenland for almost 25 years and has been involved in industrial projects for 30 years. He has significant experience in the mining sector having been the Managing Director/CEO of True North Gems Greenland and the CEO of Xploration Services Greenland A/S. As MD of Hudson Greenland, Bent is responsible for all aspects of the operations of the White Mountain anorthosite mine including production, safety and government and community relations.
Bent Olsvig Jensen, Managing Director, commented: “I’m very pleased to be given this opportunity to be a part of operating and growing the White Mountain anorthosite mine along with the excellent team already working hard on this project. I know and respect the amount of time, effort and resources that have been spent to get the project to where it is today. With exceptional support from the government and local communities we are focused on developing this project to the benefit of shareholders and stakeholders while respecting the environment and safety of our team”.
Bent is taking on the role from Jim Cambon who has been the MD of Hudson Greenland through construction, commissioning and start-up of the White Mountain mine. Jim will continue to play a significant role in the White Mountain mine with a focus on growth opportunities on numerous revenue streams from E-Glass to paints and coatings to green aluminum and CO2 free cement where the company is making excellent progress. Jim will continue in his role as President of Hudson Resources Inc, which owns 31% of the White Mountain mine and 100% of the Sarfartoq Rare Earth Element (REE) and niobium/tantalum advanced exploration projects.
Jim Cambon, President commented: “I am pleased to welcome Bent to the Hudson Greenland team. I will be working closely with Bent over the coming months to ensure a smooth transition. With Bent taking on the operations of the mine I will continue to work with the White Mountain team on growing the numerous green revenue streams for this unique mine. This move will also allow me to focus on advancing the Sarfartoq REE project and the niobium/tantalum project, which are exciting and strategically very important critical element projects for the EU and North American supply chains.”
As announced on September 23rd (NR2020-10), the White Mountain mine has recommenced operations. Commissioning of the rotary drum dryer is near completion which will allow for year-round operations and is expected to improve production parameters. The mine is currently operating on a 12 hour shift with a crew of approximately 20 people. Covid-19 restrictions are still in place with only minor impacts on the operations to date.
ON BEHALF OF THE BOARD OF DIRECTORS
President and Director
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This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding the Company’s terms of the proposed debt restructuring, the Company’s anticipated use of proceeds of the Debenture and other future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include the outcome of shareholder and regulatory approval for conversion of the Debenture, market prices, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Issuance of the Debenture remains subject to certain conditions and there is no assurance that those conditions will be met. The Company expressly disclaims any intention or obligation to update or revise any forward- looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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