Tickers: XTSX:STS.H
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Vancouver, B.C. / TheNewswire / June 1st, 2017 - Stem 7 Capital Inc. ("Stem 7" or the "Company") (TSXV: STS.H) is pleased to inform shareholders of the Company's decision to focus on the growing mining industry in Brazil, South America. Stem 7's recently appointed director Mr. Eric Allison has been instrumental in providing insight and guidance into the vast opportunities that exist therein. The Company is excited to work with Mr. Allison, his associates and his contacts on this new direction for the Company.
Mr. Allison commented "I am encouraged that Stem 7's board agrees that significant opportunities exist in the Brazilian mining sector that have the potential to increase shareholder value. The recent appointment of Mr. Allen Ambrose to the board brings the Company additional, significant experience in the South American mining sector. Even with Brazil's strong global position in mining and mineral production, there are still tremendous opportunities to develop new mining projects in multiple geologically attractive areas throughout the country. Opportunities exist in all minerals, with projects being discovered at or near surface, often with visual mineralization, and in locations with great logistics and infrastructure. This is in sharp contrast to areas in Canada, Australia or Africa, where companies must focus on more remote areas and mineralization at depth. Brazil has barely scratched the surface in its true mining potential."
Brazil is the fifth largest country in the world covering over 8.5 million square kilometers with a population exceeding 200 million. Brazil's economy is the seventh largest in the world with an estimated nominal GDP of US$1.79 trillion in 2016. The country is a global leader in mineral production - producing and marketing approximately 80 different mineral commodities. It ranks in the top five for production in several minerals including iron ore, graphite, copper, tin, niobium, manganese and bauxite. Modern day, systematic mineral exploration (with the exception of ferrous minerals) is a very recent event in Brazil. Two events in 1997, the amending of the Brazilian constitution to allow foreign companies to control +51% of any mining rights, along with the release by Vale, until then a state controlled entity, of millions of hectares of mineral rights, opened up Brazil to junior mining companies from around the world. Due to global market conditions, it was not until the period 2003-2005 that the junior mining sector really discovered Brazil.
During his career, Mr. Allison has spent a number of years working in Brazil as an investment banker, research analyst and consultant, providing technical and managerial services to several companies. He has traveled extensively within the country and developed a strong network of respected contacts in the industry including geologists, engineers, project developers, finance and legal. The junior mining space is very active in Brazil but most of the opportunities, many of which are well advanced, do not get presented to companies based in Vancouver, Toronto, New York or London. Stem 7 intends to have a strong presence in the country, identify quality opportunities and advance them to production.
On behalf of the Board,
Dave McMillan
Chairman & CEO
Ph: +1 (778) 773-4560
Email: mcmill34@telus.net
For additional information, please contact:
Kris Kottmeier
Ph: +1 (604) 506-2502
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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