Broadway Strategic Metals Inc. Communication
May 27, 2021
Broadway Strategic Metals Inc. (Broadway) wishes to clarify that it has submitted the required documentation to the Government of the Republic of Panama, which includes the reactivation of the Molejón gold mine utilizing the best environmental and social development practices, through an investment of approximately US$200,000,000.00 (Two Hundred Million US Dollars) and the creation of approximately 1000 new jobs that will allow the development and welfare of the surrounding communities. In addition, an investment of approximately US$250,000,000.00 (Two Hundred and Fifty Million US Dollars) will be made for the construction of a world-class precious metals’ refinery, where the net benefits will be shared on a 50/50 basis with the government of Panama. This refinery will become the Hub for gold and silver processing, refining, storage, minting, recycling, and banking, serving Latin America and the world. To show our level of commitment, Broadway will contribute with a payment of US$30,000,000.00 (Thirty Million US Dollars) to help resolve the legacy issues of the former Molejón gold mine, giving priority to the Social Security Fund, labor benefits, and payment of royalties and taxes.
Broadway is a private corporation comprised of mining industry experts collectively with over 100 years of experience and a network of banking, technical and managerial expertise spanning throughout the globe. The team have built over 12 mines across the globe, working first hand with local governments, communities, environmental groups, mine financing institutional firms, transportation and logical outfits that guarantee that our project will be a huge success. It is this experience and collaboration that we bring to Panama to develop the Molejón Gold Mine and Refinery.
We inform that Broadway Strategic Minerals, S.A., registered under R.U.C. 155688026-2-2019 DV:47, a Panamanian company, whose directors are Duane Parnham, Manuel Núñez and Carlos Lucas Pulido. The parent company of Broadway Strategic Minerals is the Canadian company Broadway Strategic Metals, Inc., with a majority of Canadian shareholders whose directors are Duane Parnham and Carlos Lucas Pulido.
We would also like to report that the company is up to date with the DGI and the National Treasury in the payment of legal taxes without any suspension.
In addition, we clarify that Andrea Zanon was a director of the company until April 8, 2020, when he resigned. After complying with the internal procedures and the shareholders meeting, a change of directors was incorporated to the company in October 2020, as recorded in the Public Registry. Since Mr. Zanon's resignation in April of last year, he has not maintained any relationship with Broadway or its Board of Directors.
Broadway is a transparent and sustainable company that respects the environment, the communities with whom it works, and Panamanian and international laws, and has been complying with all the conditions requested by the government of the Republic of Panama