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LUNA GOLD ANNOUNCES CHANGES TO THE BOARD OF DIRECTORS AND INTEREST PAYMENT IN COMMON SHARES TO PACIFIC ROAD
Vancouver, British Columbia - September 30, 2015 Luna Gold Corp. (TSX-LGC, OTCQX-LGCUF), ('Luna' or the 'Company') announces the departure of Mr. Luis Baertl from the Board of Directors effective September 30, 2015. Concurrently, the Company is pleased to announce the appointment of Mr. Felipe Alves to the Board of Directors effective September 30, 2015. Luna also announces that it has made its first quarterly interest payment in the form of Luna common shares to Pacific Road Resources Fund II and Pacific Road Resources Fund II L.P. (collectively, 'Pacific Road') to satisfy Luna's quarterly interest obligation on its C$20 million, 10% per year interest bearing note ('Note') held by Pacific Road.
Mr. Alves is a mining engineer with a Master's degree in the political economics of resources, bringing extensive financial and technical expertise to Luna. Mr. Alves is a Brazilian native who combines international capital markets experience with an extensive local network of governmental and regulatory agencies, resource financiers, and technical, legal and tax consulting services. He is founder and CEO of Frontera Minerals Group. His previous work experience includes roles as an Investment Manager at a small mining-focused private equity fund based in Brazil and at Rand Merchant Bank, and various technical and operating positions at several open pit and underground mining operations. He was previously a board member of CPX Cement and is currently on the board of the Brazilian Association of Mineral Exploration Companies (ABPM).
Luna also announces the resignation from the Board of Directors of Luis Baertl. Mr. Baertl has been a member of the Board since 2009 and was an instrumental in the growth of Luna from an exploration company to the operator of a producing gold mine. During that period, Mr. Baertl was extremely active in the Company and his guidance through some difficult times is greatly appreciated. Mr. Baertl remains a significant shareholder of the Company.
President and CEO Marc Leduc stated, 'We are very happy to have Felipe join the Company as a Board member. I have known Felipe for six years and he is a very well-rounded mining professional with a technical degree, and experience in capital markets and in Brazil. The departure of Mr. Baertl from our Board is sad for all of us as he has been a very important Board member. His passion for the Aurizona project and commitment and dedication to Luna were critical to the company's transition from an exploration company to a gold producer. We would like to thank him sincerely for the guidance he has provided over the years and we wish him all the best as he pursues his many other endeavors.'
As provided for in the Note agreement, quarterly interest payments may be made, at Pacific Road's sole discretion, in the form of common shares of the Company. Pacific Road elected to receive its initial interest payment for the quarter ended September 30, 2015 in Luna common shares. On September 30, 2015 Luna issued Pacific Road 8,379,002 common shares at the preceding five day volume weighted average share price of C$0.06 to satisfy the initial quarterly interest payment.
About Luna Gold Corp.
Luna is a gold production and exploration company engaged in the operation, discovery, and development of gold projects in Brazil.
On behalf of the Company LUNA GOLD CORP.
Marc Leduc P.Eng.- President, Chief Executive Officer and Director
Website: www.lunagold.com
For further information contact Investor Relations at +1 (604) 568-7993.
Forward-Looking Statements
This release contains certain 'forward looking statements' and certain 'forward looking information' as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as 'may', 'will', 'expect', 'intend', 'estimate', 'anticipate', 'believe', 'continue', 'plans' or similar terminology. Forward-looking statements include, but are not limited to, statements with respect to future gold production and/or the results of analysis on gold production. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Luna Gold Corp.'s periodic filings with Canadian Securities Regulators. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.