FEBRUARY BUSINESS UPDATE
from ECPN Board Chairman Doug Sanders
We continue to make progress on multiple fronts and I look forward to sharing more details in the weeks ahead. I am working with our legal counsel to ensure that all of our communications meet the federally mandated requirements for a publicly traded company and will continue to report news and updates within those parameters.
From where I sit, the future looks bright and, as I’ve said, there’s more to come in future Business Updates on what may be on the horizon. I am looking to the future and that’s what my message today is about…
I have had exchanges with several shareholders as well as conversations with my team of advisors related to preparing for the unplanned and the unexpected… i.e.: that I would become incapacitated (or worse!). I am extremely conscious of the ‘intellectual capital’ I hold — certainly from this past year but, truly, from decades as an active ECPN shareholder who has consulted to several Boards— and my key role in our current path to profitability. With that in mind, I have taken steps to ensure that the future of ECPN will not be put in jeopardy.
To that end, I have issued a Sole Board Member Action naming a successor and an alternate successor to take up the leadership reins and to ensure that the progress we have seen these past 12 months is not stalled or stymied in any way. Both successors are among my ECPN team of advisors, long-time shareholders, and people with whom I talk multiple times each week, if not daily, related to current developments and opportunities. They are both business professionals with decades of experience in finance, negotiations, and markets. I have known them both for many years and I trust and value their counsel and support. Their day-to-day involvement in all that we are pursuing will ensure that we won’t “miss a beat’ should a transition or succession plan be needed.
Our legal counsel has been appraised of this plan as well as the formal Board Action/Resolution that supports it and, should the need arise, would step in to help determine next steps in a formal succession and/or election process. It’s my hope, certainly, that this ‘succession plan’ will never need to be implemented. And my intention, most importantly, is that this action will protect our progress, put shareholders’ minds at ease, and communicate my respect for the support, contributions, and encouragement that has marked my first year as your Chairman.
Forward-Looking Safe Harbor Statement:
The statements included in this business update concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and expectations with respect to the engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the Company’s geological technical reports will support the Company’s prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing or mining results will not be consistent with past results and/or the Company’s expectations; discrepancies between different types of testing methods, some or all of which may not be industry standard; the ability to mine precious and other minerals on a cost effective basis; the Company’s ability to successfully complete contracts for the sale of its products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain and maintain regulatory approvals; the Company’s ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company’s ability to enter into and meet all the conditions to consummate contracts to sell its mining properties that it chooses to list for sale; and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.