Adzn–v and Srl–v ‐‐‐ 1 ‐‐‐ Adventus and Salazar Announce Additional 2018 Drill Results at the Curipamba Project, Including 19.41 Metres of 7.00% Copper, 1.61 g/t Gold, 3.00% Zinc, 18.4 g/t Silver and 0.14% Lead for 9.5% Copper‐equivalent (“CuEq”)
Toronto, June 6, 2018 – Adventus Zinc Corporation (“Adventus”) (TSX‐V: ADZN) and Salazar Resources Limited (“Salazar”) (TSX‐V: SRL, collectively the “Partners”) are pleased to announce additional drill holes from the 2018 infill drilling program on the El Domo volcanogenic massive sulphide (“VMS”) deposit; which is part of the approximately 22,000‐hectare Curipamba project located near Las Naves, Ecuador.
Highlights
- CURI‐262 intersected 13.66 metres of 5.68% copper, 6.98 g/t gold, 1.97% zinc, 59.3 g/t silver, and 0.21% lead for 11.8% CuEq;
- CURI‐265 intersected 10.30 metres of 8.72% copper, 2.74 g/t gold, 0.15% zinc, 27.3 g/t silver, and 0.01% lead for 10.9% CuEq;
- CURI‐266 intersected two adjacent intersections of 5.33 metres of 2.12% copper, 7.72 g/t gold, 9.70% zinc, 186.9 g/t silver, and 0.94% lead for 13.4% CuEq, followed immediately by 32.43 metres of 4.40% copper, 1.29 g/t gold, 1.84% zinc, 13.3 g/t silver, and 0.09% lead for 6.2% CuEq; and
- CURI‐268 intersected 3.91 metres of 5.50% copper, 4.54 g/t gold, 5.71% zinc, 32.1 g/t silver, and 0.15% lead for 11.2% CuEq.
"Infill drilling at El Domo continues to highlight the high‐quality nature of the Curipamba project amongst its peer group of copper deposits,” said Christian Kargl‐Simard, CEO of Adventus. “Adventus is confident that as infill drilling continues, El Domo will continue to yield results that will contribute greatly to moving the project forward towards an updated Preliminary Economic Assessment for stakeholders in the first half of 2019."
Fredy Salazar, CEO of Salazar said, “The Salazar team is very pleased with the most recent results from the infill drilling program that confirm the high‐grade nature of the El Domo deposit. We look forward to their inclusion in an update to the Mineral Resource for next year.”
El Domo Infill Drilling Results
Infill drilling continues to yield intercepts of high‐grade, copper‐ and gold‐rich semi‐massive to massive sulphide mineralization within the open‐pit constrained Mineral Resource update for the El Domo VMS deposit completed by Roscoe Postle Associates Inc. (“RPA”). The Indicated Mineral Resource totals 8.8 million tonnes grading 1.62% copper, 2.34 g/t gold, 2.42% zinc, 48.0 g/t silver, and 0.27% lead. The Inferred Mineral Resource totals 2.6 million tonnes grading 1.29% copper, 1.09 g/t gold, 1.51% zinc, 29.0 g/t silver, and 0.14% lead (see January 31, 2018 news release). The National Instrument (“NI”) 43‐101 Technical Report was authored by Independent Qualified Person Dr. Lars Weiershäuser, P.Geo., of RPA (based in Toronto, Ontario, Canada) who is a Qualified Person as defined by NI 43‐101.
The infill drilling program commenced in early March 2018 with the objective of upgrading the confidence level of the higher‐grade portion of the open‐pit constrained Mineral Resource by decreasing drill spacing; which will
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| also generate material for a planned metallurgical program in the second half of 2018. To date, drilling within | ||||||||||||||||||
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| higher‐grade portion of the open‐pit constrained Mineral Resource has successfully completed approximately | ||||||||||||||||||
| 3,500 metres from a planned 7,500 metre work program that is expected to be completed by the end of the | ||||||||||||||||||
| second quarter of 2018. | ||||||||||||||||||
| Drill hole CURI‐262 intersected a zone of grainstone from 44.51 to 50.24 metres for an approximate true | ||||||||||||||||||
| thickness of 4.56 metres that possessed resedimented clasts of massive sulphide mineralization and graded | ||||||||||||||||||
| 1.26% copper, 1.88 g/t gold, 1.47% zinc, 33.9 g/t silver, and 0.11% lead. Massive sulphide mineralization then | ||||||||||||||||||
| occurs from 63.69 to 77.35 metres for an approximate true thickness of 12.98 metres, grading 5.68% copper, | ||||||||||||||||||
| 6.98 g/t gold, 1.97% zinc, 59.3 g/t silver, and 0.21% lead. A subset interval of semi‐massive sulphide | ||||||||||||||||||
| mineralization does possess higher gold and silver assay results from 63.69 to 67.88 metres, grading 10.68% | ||||||||||||||||||
| copper, 18.34g/t gold, 3.51% zinc, 111.9 g/t silver, and 0.30% lead. | ||||||||||||||||||
| Drill Hole | From (m) | To (m) | Thickness (m) | Cu (%) | Au | Zn | Ag | Pb (%) | CuEq(1) (%) | Approx. True Thickness (m) | ||||||||
| (g/t) | (%) | (g/t) | ||||||||||||||||
| CURI-262 | 44.51 | 50.24 | 4.80 | 1.26 | 1.88 | 1.47 | 33.9 | 0.11 | 3.8 | 4.56 | ||||||||
| including | 48.13 | 50.24 | 2.15 | 2.51 | 4.20 | 2.07 | 60.1 | 0.23 | 6.9 | 2.04 | ||||||||
| 63.69 | 77.35 | 13.66 | 5.68 | 6.98 | 1.97 | 59.3 | 0.21 | 11.8 | 12.98 | |||||||||
| including | 63.69 | 67.88 | 4.19 | 10.68 | 18.34 | 3.51 | 111.9 | 0.30 | 25.7 | 3.98 | ||||||||
| (1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the | ||||||||||||||||||
| metal equivalency calculation for metal recovery, as this is still an early stage project | ||||||||||||||||||
| Drill hole CURI‐264 intersected fine‐grained sediments off the western margin of the massive sulphide | ||||||||||||||||||
| mineralization that are time‐stratigraphic equivalent, or coeval and therefore linked to the seafloor | ||||||||||||||||||
| hydrothermal processes that formed El Domo. The top of the interval is caught up in an apparent fault structure | ||||||||||||||||||
| from 74.50 to 76.83 metres, but this sedimentary unit continues to 82.60 metres. Significant gold mineralization | ||||||||||||||||||
| was intersected from 74.50 to 81.00 metres for an approximate true thickness of 5.53 metres grading 0.52% | ||||||||||||||||||
| copper, 6.55 g/t gold, 0.52% zinc, 48.0 g/t silver and 0.10% lead. A subset interval of higher‐grade occurs from | ||||||||||||||||||
| 76.83 to 78.00 metres grading 1.48% copper, 14.50 g/t gold, 0.63% zinc, 45.6 g/t silver, and 0.01% lead. | ||||||||||||||||||
| Drill Hole | From (m) | To (m) | Thickness (m) | Cu (%) | Au | Zn | Ag | Pb (%) | CuEq(1) (%) | Approx. True Thickness (m) | ||||||||
| (g/t) | (%) | (g/t) | ||||||||||||||||
| CURI-264 | 74.50 | 81.00 | 6.50 | 0.52 | 6.55 | 0.52 | 48.0 | 0.10 | 5.7 | 5.53 | ||||||||
| including | 76.83 | 78.00 | 1.17 | 1.48 | 14.50 | 0.63 | 45.6 | 0.01 | 12.0 | 0.99 | ||||||||
| (1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the | ||||||||||||||||||
| metal equivalency calculation for metal recovery, as this is still an early stage project | ||||||||||||||||||
| Grainstone and fine‐grained sediments were intersected in CURI‐265 from 39.50 to 65.04 metres for an | ||||||||||||||||||
| approximate true thickness of 24.26 metres; however, it appears the fine‐grained sediments are entirely | ||||||||||||||||||
| overprinted by faulting from 56.00 to 65.04 metres. Overall, the grainstone and fine‐grained sediments are only | ||||||||||||||||||
| weakly mineralized from 49.50 to 65.04 metres, grading 0.35% copper, 1.33 g/t gold, 1.37% zinc, 41.2 g/t silver, | ||||||||||||||||||
| and 0.28% lead. |
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| The top contact of the VMS mineralization appears to be semi‐massive sulphide mineralization that transitions | |||||||||||||||||||
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| from fine‐grained sediments to the massive sulphide mineralization downhole. The massive sulphide | |||||||||||||||||||
| mineralization occurs from 65.04 to 75.34 metres for a true thickness of 9.79 metres, grading 8.72% copper, | |||||||||||||||||||
| 2.74 g/t gold, 0.15% zinc, 27.3 g/t silver, and 0.01% lead. A subset interval of the massive sulphide mineralization | |||||||||||||||||||
| is of even higher grade from 66.20 to 70.00 metres, grading 14.05% copper, 5.69 g/t gold, 0.11% zinc, 47.0 g/t | |||||||||||||||||||
| silver, and 0.01% lead. The lower contact also appears to be faulted and transitions into dacite volcaniclastic | |||||||||||||||||||
| rocks that are weakly mineralized and hydrothermally altered by gypsum. | |||||||||||||||||||
| Drill Hole From To Thickness Cu Au Zn Ag Pb CuEq(1) Approx. True (m) (m) (m) (%) (g/t) (%) (g/t) (%) (%) Thickness (m) CURI-265 49.50 65.04 15.54 0.35 1.33 1.37 41.2 0.28 2.3 14.76 Including 50.94 52.73 1.79 0.81 2.57 3.22 94.0 0.97 5.1 1.70 Including 56.00 57.56 1.56 0.24 4.96 6.88 201.0 1.24 8.8 1.48 Including 59.48 65.04 5.56 0.58 0.98 0.61 17.6 0.05 1.7 5.28 65.04 75.34 10.30 8.72 2.74 0.15 27.3 0.01 10.9 9.79 Including 66.20 70.00 3.80 14.05 5.69 0.11 47.0 0.01 18.4 3.61 (1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project | Drill Hole | From | To | Thickness | Cu (%) | Au (g/t) | Zn (%) | Ag (g/t) | Pb | CuEq(1) | Approx. True | ||||||||
| (m) | (m) | (m) | (%) | (%) | Thickness (m) | ||||||||||||||
| CURI-265 | 49.50 | 65.04 | 15.54 | 0.35 | 1.33 | 1.37 | 41.2 | 0.28 | 2.3 | 14.76 | |||||||||
| Including | 50.94 | 52.73 | 1.79 | 0.81 | 2.57 | 3.22 | 94.0 | 0.97 | 5.1 | 1.70 | |||||||||
| Including | 56.00 | 57.56 | 1.56 | 0.24 | 4.96 | 6.88 | 201.0 | 1.24 | 8.8 | 1.48 | |||||||||
| Including | 59.48 | 65.04 | 5.56 | 0.58 | 0.98 | 0.61 | 17.6 | 0.05 | 1.7 | 5.28 | |||||||||
| 65.04 | 75.34 | 10.30 | 8.72 | 2.74 | 0.15 | 27.3 | 0.01 | 10.9 | 9.79 | ||||||||||
| Including | 66.20 | 70.00 | 3.80 | 14.05 | 5.69 | 0.11 | 47.0 | 0.01 | 18.4 | 3.61 | |||||||||
| (1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the | |||||||||||||||||||
| metal equivalency calculation for metal recovery, as this is still an early stage project | |||||||||||||||||||
| Drill hole CURI‐266 intersected well‐mineralized, fine‐grained sediments from 51.24 to 56.57 metres for an | |||||||||||||||||||
| approximate true thickness of 4.53 metres grading 2.12% copper, 7.72 g/t gold, 9.70% zinc, 186.9 g/t silver, and | |||||||||||||||||||
| 0.94% lead. A subset interval from 53.70 to 56.57 metres grading 2.64% copper, 9.48 g/t gold, 14.77% zinc, | |||||||||||||||||||
| 251.3 g/t silver, and 1.11 % lead. | |||||||||||||||||||
| The fine‐grained sediments transitioned into a thick interval of massive sulphide to semi‐massive mineralization | |||||||||||||||||||
| that occurs from 56.57 to 89.00 metres for an approximate true thickness of 27.56 metres grading 4.40% copper, | |||||||||||||||||||
| 1.29 g/t gold, 1.84% zinc, 13.3 g/t silver, and 0.09% lead. A subset interval of massive sulphide mineralization is | |||||||||||||||||||
| of even higher grade from 66.16 to 72.04 metres, grading 14.82% copper, 2.48 g/t gold, 5.54% zinc, 22.8 g/t | |||||||||||||||||||
| silver, and 0.03% lead. | |||||||||||||||||||
| Drill Hole From To Thickness Cu Au Zn Ag Pb CuEq(1) Approx. True (m) (m) (m) (%) (g/t) (%) (g/t) (%) (%) Thickness (m) CURI-266 51.24 56.57 5.33 2.12 7.72 9.70 186.9 0.94 13.4 4.53 Including 53.70 56.57 2.87 2.64 9.48 14.77 251.3 1.11 17.9 2.44 56.57 89.00 32.43 4.40 1.29 1.84 13.3 0.09 6.2 27.56 Including 56.57 75.98 19.41 7.00 1.61 3.00 18.4 0.14 9.5 16.50 Including 58.61 72.04 13.43 9.05 1.81 2.59 16.4 0.03 11.5 11.42 Including 66.16 72.04 5.88 14.82 2.48 5.54 22.8 0.03 19.0 5.00 Including 75.98 89.00 13.02 0.53 0.81 0.11 5.6 0.02 1.2 11.07 (1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project | Drill Hole | From | To | Thickness | Cu (%) | Au (g/t) | Zn (%) | Ag (g/t) | Pb | CuEq(1) | Approx. True | ||||||||
| (m) | (m) | (m) | (%) | (%) | Thickness (m) | ||||||||||||||
| CURI-266 | 51.24 | 56.57 | 5.33 | 2.12 | 7.72 | 9.70 | 186.9 | 0.94 | 13.4 | 4.53 | |||||||||
| Including | 53.70 | 56.57 | 2.87 | 2.64 | 9.48 | 14.77 | 251.3 | 1.11 | 17.9 | 2.44 | |||||||||
| 56.57 | 89.00 | 32.43 | 4.40 | 1.29 | 1.84 | 13.3 | 0.09 | 6.2 | 27.56 | ||||||||||
| Including | 56.57 | 75.98 | 19.41 | 7.00 | 1.61 | 3.00 | 18.4 | 0.14 | 9.5 | 16.50 | |||||||||
| Including | 58.61 | 72.04 | 13.43 | 9.05 | 1.81 | 2.59 | 16.4 | 0.03 | 11.5 | 11.42 | |||||||||
| Including | 66.16 | 72.04 | 5.88 | 14.82 | 2.48 | 5.54 | 22.8 | 0.03 | 19.0 | 5.00 | |||||||||
| Including | 75.98 | 89.00 | 13.02 | 0.53 | 0.81 | 0.11 | 5.6 | 0.02 | 1.2 | 11.07 | |||||||||
| (1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the | |||||||||||||||||||
| metal equivalency calculation for metal recovery, as this is still an early stage project | |||||||||||||||||||
| Drill hole CURI‐268 intersected grainstone from 34.24 to 47.80 metres for an approximate true thickness of | |||||||||||||||||||
| 12.88 metres; however, it only has narrow intervals that is rich in sulphide clasts. The best interval was 45.20 |
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| to 47.80 metres, grading 6.15% copper, 8.64 g/t gold, 5.97% zinc, 151.4 g/t silver, and 0.56% lead. | ||||||||||||||||||||||
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| Stratigraphically below the grainstone were fine‐grained sediments that appeared intruded by a mafic dyke, but | ||||||||||||||||||||||
| the fine‐grained sediments were well‐mineralized directly above the massive sulphide mineralization from 59.66 | ||||||||||||||||||||||
| to 61.04 metres for an approximate true thickness of 1.31 metres grading 1.65% copper, 5.75 g/t gold, 0.98% | ||||||||||||||||||||||
| zinc, 29.0 g/t silver, and 0.14% lead. | ||||||||||||||||||||||
| The fine‐grained sediments transitioned into a thick interval of massive sulphide mineralization, most of which | ||||||||||||||||||||||
| appeared faulted. This mineralization was intersected from 61.04 to 69.00 metres for an approximate true | ||||||||||||||||||||||
| thickness of 7.56 metres grading 2.89% copper, 2.74 g/t gold, 2.86% zinc, 17.1 g/t silver, and 0.08% lead. A | ||||||||||||||||||||||
| subset interval of massive sulphide mineralization is of even higher grade from 61.04 to 64.95 metres, grading | ||||||||||||||||||||||
| 5.50% copper, 4.54 g/t gold, 5.71% zinc, 32.1 g/t silver, and 0.15% lead. | ||||||||||||||||||||||
| Drill Hole | From | To | Thickness | Cu | Au | Zn | Ag | Pb | CuEq(1) | Approx. True | ||||||||||||
| (m) | (m) | (m) | (%) | (g/t) | (%) | (g/t) | (%) | (%) | Thickness (m) | |||||||||||||
| CURI-268 | 45.20 | 47.80 | 2.60 | 6.15 | 8.64 | 5.97 | 151.4 | 0.56 | 16.1 | 2.47 | ||||||||||||
| 59.66 | 61.04 | 1.38 | 1.65 | 5.75 | 0.98 | 29.0 | 0.14 | 6.3 | 1.31 | |||||||||||||
| 61.04 | 69.00 | 7.96 | 2.89 | 2.74 | 2.86 | 17.1 | 0.08 | 6.1 | 7.56 | |||||||||||||
| Including | 61.04 | 64.95 | 3.91 | 5.50 | 4.54 | 5.71 | 32.1 | 0.15 | 11.2 | 2.95 | ||||||||||||
| (1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project | ||||||||||||||||||||||
| (1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the | ||||||||||||||||||||||
| metal equivalency calculation for metal recovery, as this is still an early stage project | ||||||||||||||||||||||
| Technical Information Quality Control & Quality Assurance | ||||||||||||||||||||||
| The Curipamba project work program is being managed and reviewed by Vice President Exploration, Jason | ||||||||||||||||||||||
| Dunning, M.Sc., P.Geo., a Qualified Person within the meaning of NI 43‐101. Salazar staff collect and process | ||||||||||||||||||||||
| samples that are securely sealed and shipped to Bureau Veritas (“BV”) in Quito for sample preparation that | ||||||||||||||||||||||
| includes crushing and milling to prepare pulps that are then split for shipment to their facility in Lima, Peru for | ||||||||||||||||||||||
| analysis. All assay data have undergone internal validation of QAQC; noting there is an established sampling | ||||||||||||||||||||||
| control program with blind insertion of assay blanks, certified industry standards and sample duplicates for the | ||||||||||||||||||||||
| Curipamba project. A QAQC program is also in place at BV and includes insertion of blanks, standards and | ||||||||||||||||||||||
| duplicate reanalysis of selected samples. BV’s quality system complies with the requirements for the | ||||||||||||||||||||||
| International Standards ISO 9001:2000 and ISO 17025: 1999. At BV, gold is analyzed by classical fire assay | ||||||||||||||||||||||
| techniques with an ICP‐AES finish, and both silver and base metals are analyzed by a 44‐element aqua regia ICP‐ | ||||||||||||||||||||||
| AES technique. Overlimit protocols are in place for gold, silver, copper, lead, and zinc. | ||||||||||||||||||||||
| Qualified Person | ||||||||||||||||||||||
| The technical information of this news release has been reviewed and verified as accurate by Mr. Jason Dunning, | ||||||||||||||||||||||
| M.Sc., P.Geo., Vice President Exploration for Adventus, a non‐Independent Qualified Person, as defined by NI | ||||||||||||||||||||||
| 43‐101. |
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About Adventus
Adventus is a well‐financed company focused on zinc‐related exploration and project development globally. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, and Resource Capital Funds; as well as other highly respected investors in the mining business. Adventus currently has large prospective land packages in both Ireland and Newfoundland and Labrador, Canada, and is earning a 75% ownership interest in the Curipamba copper‐gold‐zinc project in Ecuador. In addition, Adventus has a country‐wide exploration alliance with its partners in Ecuador, incorporating two projects to date. Adventus is based in Toronto, Canada, and is listed on the TSX‐V under the symbol ADZN.
About Salazar
Salazar is a publicly‐listed mineral resource company engaged in the exploration and development of new highly prospective areas in Ecuador. Led by a senior Ecuadorian management team and most notably by its namesake Fredy Salazar, this team has been instrumental in other major discoveries throughout Ecuador, including Aurelian's Fruta Del Norte discovery, Mozo Deposit, Ex Newmont's Cangrejos Project and International Minerals Rio Blanco and Gaby Deposit. Being an Ecuadorian‐based company gives the Company a strategic advantage enabling the Company to complete exploration at a rapid pace. With an excellent property portfolio (6 projects – 33,383 hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release contains “forward ‐looking information” within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as “believes”, “anticipates”, “expects”, “is expected”, “scheduled”, “estimates”, “pending”, “intends”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “should” “might”, “will be taken”, or “occur” and similar expressions) are not statements of historical fact and may be forward‐looking statements.
Forward‐looking information herein includes, but is not limited to, statements that address activities, events or developments that Adventus and Salazar expect or anticipate will or may occur in the future. Although Adventus and Salazar have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward‐looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward‐looking information. Adventus and Salazar undertake to update any forward‐looking information except in accordance with applicable securities laws.
For further information from Adventus, please contact Christian Kargl‐Simard, Chief Executive Officer, at 1‐416‐230‐3440 or [email protected].
For further information from Salazar, please contact [email protected].
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