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Prophecy Development Corp (2)
Symbol PCY
Shares Issued 109,341,127
Close 2019-09-23 C$ 0.50
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Prophecy Development completes internal reorganization

2019-09-24 09:22 ET - News Release

Mr. Michael Doolin reports


Prophecy Development Corp., further to its news release dated Aug. 19, 2019, has successfully completed its internal reorganization.

Prophecy is now the parent company of the following direct subsidiaries.

Silver Elephant Mining Corp. (British Columbia, Canada)

Silver Elephant, through its Bolivian subsidiaries, focuses on developing Prophecy's 100-per-cent-controlled Pulacayo Paca silver mining project in Bolivia.

Nevada Vanadium Mining Corp. (B.C., Canada)

Nevada Vanadium, through its United States subsidiaries, focuses on developing Prophecy's 100-per-cent-controlled Gibellini and Louie Hill vanadium mining projects in Eureka county, Nevada.

Asia Mining Inc. (B.C., Canada)

Asia Mining, through its Mongolian subsidiaries, operates Prophecy's 100-per-cent-controlled Ulaan Ovoo and Chandgana coal mines in Mongolia. That operation takes place under existing 20-year mining licences, which can be extended for another 20 years.

John Lee, executive chairman of Prophecy, comments: "We have completed the reorganization on time. With recently completed equity financing, Prophecy will be actively marketing and developing its projects."

The company further announces, subject to approval by the Toronto Stock Exchange, that it will issue 175,000 common shares with a four-month hold period to Bryan Slusarchuk, who will provide consulting services to the company.

About Prophecy Development Corp.

Prophecy is developing the Pulacayo silver project in Bolivia and Gibellini vanadium project in Nevada.

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