Friday, January 17, 2020

 


Noranda Income Fund
(TSX: NIF-UN.TO) Add to Watchlist
$2.53
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Noranda Income Fund Announces Management Changes

The Noranda Income Fund (TSX:NIF-UN.TO) (the "Fund") announces that Eva Carissimi will resign from her current role as President and Chief Executive Officer of its manager, Canadian Electrolytic Zinc Limited ("CEZinc"), effective as of April 12, 2019. Ms. Carissimi has held this position since July 2012.

Ms. Carissimi has chosen to pursue new opportunities in a new organization.

Concurrently, the Fund is pleased to announce the appointments of Liana Centomo as Chief Executive Officer of CEZinc and Martin Fillion in the newly created position of Chief Operating Officer of CEZinc. Prior to this appointment, Ms. Centomo was Technology and Environment Manager and has held this position since 2011. She has been with CEZinc since 1995. Mr. Fillion was Operations Manager and has held this position since 2012. He has been with the CEZinc since 1988.

Ms. Carissimi will assist over the next month to ensure a smooth and seamless transition.

"We would like to thank Eva for her commitment and dedication to CEZinc over the last seven years and we wish her well in her new endeavours" commented Jean Pierre Ouellet, Chairman of the Board of Trustees.

Adding, Mr. Ouellet said: "Both Ms. Centomo and Mr. Fillion have been in senior management positions at our Valleyfield operation over a number of years and bring a combined 50 plus years of experience in the zinc smelting industry. Both Ms. Centomo and Mr. Fillion have delivered consistent results over their careers to date and we are confident in their abilities to continue delivering improvements. We thank them for accepting these additional responsibilities."

Forward-Looking Information

This press release contains forward-looking information and statements within the meaning of applicable securities laws. Forward-looking information involves known and unknown risks, uncertainties and other factors, which may cause actual events, results or performance to be materially different from any future events, results or performance expressed or implied by the forward-looking information, and as a result, the Fund cannot guarantee that any forward-looking statements or information will materialize.

Such risks and uncertainties include, but are not limited to, the effect of general business and economic conditions, the Fund's ability to operate at normal production levels, the Fund's capital expenditure requirements and other general risks and uncertainties set out in the Fund's continuous disclosure documents on available on SEDAR at www.sedar.com.

Forward-looking information contained in this press release is based on, among other things, management's current estimates, expectations, assumptions, plans and intentions, which management believes are reasonable as of the current date, and which are subject to a number of risks and uncertainties. Except as required by law, the Fund does not undertake to update these forward-looking statements or information, whether written or oral, that may be made from time to time by the Fund or on the Fund's behalf.

Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". Noranda Income Fund owns the electrolytic zinc processing facility and ancillary assets (the "Processing Facility") located in Salaberry de-Valleyfield, Quebec. The Processing Facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of zinc customers are located. It produces refined zinc metal and various by-products from sourced zinc concentrates. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited, a wholly-owned subsidiary of Glencore Canada Corporation.

Except where otherwise indicated, all amounts in this press release are expressed in Canadian dollars.

Further information about Noranda Income Fund can be found at

www.norandaincomefund.com

For further information, please contact:

Paul Einarson, Vice President & Chief Financial Officer of Canadian Electrolytic Zinc Limited, Noranda Income Fund's Manager

Tel: 514-745-9380

info@norandaincomefund.com

PDF available: http://ml.globenewswire.com/Resource/Download/295b0b2f-60f9-49dd-8bfc-a9c17f7f7e21

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