SEVENTY NINTH GROUP ANNOUNCES PLANS FOR EXPANSION INTO CANADA
Southport, UK
|
April 12, 2023 10:30 AM Eastern Daylight Time
Seventy Ninth Group (the “Group” or “Seventy Ninth Group”), an asset management company headquartered in the United Kingdom, is pleased to announce its plans to expand the operations of its natural resources portfolio company, Seventy Ninth Resources (the “Company” or “Seventy Ninth Resources”) into the Canadian capital markets. The Group is currently in the process of identifying an appropriate business combination target for the Company to complete a merger or similar business combination transaction. Once an appropriate business combination target has been identified, the Company intends to pursue a listing of the Company's securities on the TSX Venture Exchange.
Seventy Ninth Group specialises in the acquisition and redevelopment of undervalued assets across its core sectors of real estate and natural resources – the Company is a portfolio company that is owned and operated by Seventy Ninth Group.
The Group is owned and controlled by the Webster family, who hold a unique position in both the real estate and natural resource sectors, specialising in the acquisition, management and development of high growth assets with a focus on deploying sustainable investment strategies.
In 2021, Seventy Ninth Resources acquired a significant portfolio of natural resources concessions in West Africa. The decision to expand into Canada is part of the Group’s wider strategy for growth across several jurisdictions, including North America.
Chairman of the Group, David Webster, says; “We are grateful to have the support of a number of renowned, internationally recognised partners – from advisers at Ernst & Young and Deloitte, through to our legal counsel at Garfinkle Biderman LLP, based in Toronto, who are guiding us through the Canadian expansion process, alongside the likes of SRK Exploration and Field Fisher who are instrumental in our success to date.
“Before formalising Seventy Ninth Resources, we spent approximately ten years on the ground in the Republic of Guinea, West Africa gaining hands-on experience in gold mining operations. It’s been a proposition we have developed and invested in for a considerable amount of time.
“Over the last two years, our expansion has been rapid. We have grown the Group’s resources business from a father and son team of three, into a business with a headcount of over 40, operating in five countries globally in under two years. It’s been a huge source of pride for me personally, and a massive accomplishment for a family run business from Merseyside, England.”
Jake Webster, Managing Director at the Seventy Ninth Group, comments; “The opportunity we see for our investors is clear. Natural resources are at the core of our lives - whether it’s the minerals in the batteries that power our phones, laptops and cars, or the use of gold as a diversifier in times of economic uncertainty.”
Natalie Bellis, CEO of Seventy Ninth Group adds; “The decision to pursue expansion into Canadian capital markets was an obvious one for us. Canada is the home of mining and where many of our key stakeholders are doing business. Expanding into the Canadian markets is an exciting proposal for us as a business. We are open to opportunity, and we are entrepreneurial in our approach to the resources business. It is how we deliver the best outcome for our partners”.
“We believe that the Canadian capital markets benefit us in many ways; listing in Canada will increase visibility and access to capital, which in turn, supports the drilling project. It is a huge compliment to be considering a Canadian stock exchange listing, and a testament to the incredible efforts of our worldwide team who have worked so collaboratively on not only the launch of our private equity offerings but the operations in Guinea and our partner growth in the Middle East.”
The Group will provide further details regarding the identifying of a suitable business combination target in subsequent news releases.
About The Seventy Ninth Group
The Seventy Ninth Group is an award-winning asset management company headquartered in the United Kingdom. Founded by serial entrepreneur David Webster and his two sons, Jake and Curtis Webster. The Seventy Ninth Group holds a unique and advantageous position in both the real estate and natural resource sectors, specialising in the acquisition, management and development of lucrative assets during times of economic turmoil and uncertainty. A family-owned business, the Seventy Ninth Group is chaired by David and his sons, Jake and Curtis, along with an experienced board of directors most of whom derive from a banking & compliance background. The Seventy Ninth Group is renowned for its strong family values of loyalty, honesty, and reliability, and is respected by their clients globally. Alongside the Seventy Ninth Group, the Webster family provides a series of niche offerings within the real estate industry, consisting of:
Seventy Ninth™ Resources
Seventy Ninth Resources, based in the Republic of Guinea, is the natural resources arm of the company with a series of natural resources concessions that include gold, bauxite, iron ore and diamonds.
Seventy Ninth™ Private Equity Fund
A private equity fund domiciled and headquartered in Gibraltar, a British Overseas Territory. The PEF is authorised and regulated by the Gibraltar Financial Services Commission (GFSC).
Seventy Ninth™ Global DMCC
Seventy Ninth Global DMCC is a private offering that is available to partners who have an understanding of, and interest in, the commodities world and who are seeking to grow their portfolios within the natural resources sector.
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the Company identifying an appropriate business combination target and its future plans for pursuing a stock exchange listing in Canada. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward- looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward- looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Contact Details
Seventy Ninth Group
Liam Britnell
+44 7453 364820
Company Website
