Vancouver, British Columbia–(Newsfile Corp. – November 28, 2024) – Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) (“FRG” or the “Company“) is pleased to announce the appointment of Camilo Cordovez Amador as Vice President of Finance, and Patrick Bonner as Special Advisor to the Company.

Appointment of VP of Finance

The Company has appointed Camilo Cordovez Amador as Vice President of Finance for the Company.

Camilo brings a wealth of experience in both the financial and mining sectors. Camilo brings over 16 years of experience in investment banking, asset management, capital markets, and project development across sectors such as mining, infrastructure, real estate, and energy. Beyond financial advisory, he excels at executing complex projects, collaborating with multidisciplinary teams, and driving strategic decisions to deliver impactful results. As co-founder and executive at multiple firms, he has advised on projects exceeding $100M with international investment groups, worked for funds managing assets of over $700M in previous roles, and played a key role in securing a $78M public listing on the ISDX London Stock Exchange.

For the past two years, he has served as Vice President of Finance for Aion Mining Corp. and is now scaling up in his role as Vice President of Finance for Forge Resources Corp.

Camilo has a Bachelor of Business and Finance (Cum Laude) from the European University Business School of Barcelona, with specializations in International Corporate Finance from Columbia Business School and private equity funds from EAFIT University. He has been certified as an Advisor in Private Equity Funds, Mutual Funds, Equities, and Fixed Income instruments by Colombia’s regulatory entity, AMV.

Appointment of Advisor

The Company has also appointed Patrick Bonner as a Special Advisor to the Company.

Patrick Bonner is a seasoned investor with a strong history of success in the junior mining sector, equity markets, and real estate. With over 25 years of leadership experience across direct marketing, healthcare, and energy sectors, he offers exceptional management and strategic decision making skills, along with an extensive investment network. Bonner has spearheaded numerous successful real estate transactions, demonstrating his ability to identify and maximize value investments. His 8% stake in our company demonstrates his deep commitment and enthusiasm for the Company. He holds a Bachelor of Science from Dalhousie University and an MBA from Saint Mary’s University.

About Forge Resources Corp.

Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada. The Company holds a 40% interest, with an LOI in place to acquire up to 60% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.

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This December, chess will be all the talk on Wall Street as hundreds of players from around the world will converge to participate in the 2024 FIDE World Rapid & Blitz Championships. 

As if the excitement of the games was not enough, FIDE is taking the fusion of chess and finance to the next level with the introduction of Wall Street Gambit; a one-of-a-kind chess and finance conference.

Featuring an exceptional lineup of keynote speakers, the unique opportunity to play blitz against legends Magnus Carlsen, Viswanathan Anand, and Fabiano Caruana, a tournament for attendees, and a networking cocktail hour, Wall Street Gambit promises to be an unmissable event—whether you’re from the world of chess or high finance.

“I personally believe that Chess and Finance are very close to each other. That’s why we came up with the idea of a unique conference Wall Street Gambit… Our conference will become a great opportunity to exchange the secrets of decision-making, focusing and emotion management skills,” said Timur Turlov, CEO of Freedom Holding Corp.. 

Wall Street Gambit will take place on December 29 at Cipriani 55 Wall Street. This unique conference will bring together two of the world’s most challenging arenas—chess and finance—for a day of strategic thinking, competition, and high-level networking. The event will feature some of the most renowned chess legends, including Magnus Carlsen, Fabiano Caruana, and Viswanathan Anand, who will be joined by leading figures from the financial and tech worlds, including Boaz Weinstein, D. Sculley, and Kenneth Rogoff. 

The day will begin with a chess tournament for the conference participants, offering a chance to showcase their chess skills while setting the tone for the insightful discussions ahead. After the tournament, the conference will transition to keynote speeches from some of the most influential names in chess, finance, and AI, who will explore the intellectual parallels between the worlds. D. Sculley, CEO of Kaggle, will deliver a keynote titled “Predicting in the Face of Incomplete Knowledge: Chess, Finance, and Other Challenges for AI.” Kenneth Rogoff, economist and chess grandmaster, will speak on the topic “Chess, AI, and Economics”. 

One of the most exciting highlights will be the opportunity for VIP attendees to play blitz games against Magnus Carlsen, Viswanathan Anand, or Fabiano Caruana. This rare chance to test your skills against two of the greatest players ever is sure to be a thrilling experience for all involved. As the day winds down, there will be a photo opportunity and awards ceremony, followed by a networking cocktail hour—an ideal setting to connect with leaders from both the chess and financial sectors. 

Wall Street Gambit reflects the growing interest in chess within corporate and financial circles. Events like the World Corporate Chess Championship have shown how chess can enhance decision-making and leadership. Chess is more than just a game; it’s a tool for sharpening analytical thinking, and it will be on full display at Wall Street Gambit.

Whether you are a chess player, a finance professional, or simply someone who enjoys intellectual challenges, Wall Street Gambit promises to be a transformative event. Set in the iconic backdrop of Wall Street, this is your chance to experience the exciting intersection of chess and finance.

Don’t miss out! Tickets are limited, and they’re expected to sell out quickly. Secure yours here.

• Elon Musk says he wants to eliminate the Consumer Financial Protection Bureau.
• The CFPB was created after the 2008 crisis to protect consumers from financial abuses.
• The CFPB has recouped billions for consumers but has long faced political and legal challenges.

In his efforts to cut government costs, Elon Musk has thrown his support behind slashing a federal office created in the wake of the Great Recession to regulate financial services used by Americans.

“Delete CFPB,” Musk wrote on X early Wednesday of the Consumer Financial Protection Bureau. “There are too many duplicative regulatory agencies.”

Musk, along with Vivek Ramaswamy, has been tasked with heading up the Trump-created Department of Government Efficiency, or DOGE, and finding ways to reduce spending and streamline bureaucracy within the federal government. The unofficial advisors have floated “deleting” entire agencies, laying off staff, and enforcing return-to-office mandates.

When reached for comment, a spokesperson for Trump’s transition team said she had nothing to add to Musk’s statement.

While it’s unclear how DOGE and the incoming Trump Administration would abolish agencies, if it does, the CFPB could be on the chopping block. Here’s a look at its purpose, employee makeup, and political controversies.

Why it was created

The CFPB was created by Congress as part of the 2010 Dodd-Frank Act. The law aimed to strengthen oversight of Wall Street after its risky mortgage lending practices caused the global financial crisis. The CFPB has a broad mandate to protect Americans from deceptive or abusive practices by US financial firms. The agency investigates consumer complaints related to credit cards, loans, bank accounts, and debt collection and enforces consumer protection laws.

Democratic Sen. Elizabeth Warren, a professor at Harvard Law School, originally proposed the agency in 2007. In 2010, President Barack Obama appointed Warren to head the CFPB’s steering committee to help establish it.

“The time for hiding tricks and traps in the fine print is over,” Warren said during a White House ceremony that year. “This new bureau is based on the simple idea that if the playing field is level and families can see what’s going on, they will have better tools to make better choices.”

How many people it employs

As of March 2024, the CFPB employed just under 1,700 people, earning an average of about $184,000 a year, according to the Office of Personnel Management. The Bureau’s 2024 financial report broke that workforce into six groups; about 43% of CFPB’s employees work in the supervision and enforcement of financial institutions, 18% in operations supporting the Bureau’s other initiatives, and 14% in research, monitoring, and regulations.

What it has accomplished

Since its founding, the CFPB has recouped $19.6 billion for consumers through direct compensation, canceled debt, and reduced loan principals.

The agency has also issued $5 billion in civil penalties against banks, credit unions, debt collectors, payday lenders, for-profit colleges, and other financial services companies. That money is deposited into a victims’ relief fund, with nearly 200 million people eligible for relief.

Some of CFPB’s most high-profile enforcement actions have been against Bank of America and Wells Fargo. The agency in 2023 accused Bank of America of harming hundreds of thousands of customers by charging illegal fees, withholding credit card cash and reward points, and enrolling them in credit card accounts without their knowledge. Bank of America agreed to pay $250 million. In 2022, Wells Fargo agreed to pay $3.7 billion — a record sum — after a CFPB investigation alleged the bank mismanaged auto loans, mortgages, and deposit accounts, causing some customers to lose their vehicles and homes.

Last week, the agency finalized a rule expanding its oversight to big tech companies like Apple, Google, and Venmo, which offer digital wallets and payment apps and process some 13 billion transactions a year. Earlier this year, the CFPB also limited credit card late fees to $8 a month, compared to the average $32 fee charged by issuers in 2022.

Political controversy

Democrats designed the CFPB to have political independence by funding it through the Federal Reserve rather than While Democrats argue that the CFPB’s independence is crucial to its efficacy, Republicans say the agency’s funding source and governing structure make it unaccountable to the public and encourage regulatory overreach.

Since its founding, the CFPB has faced legal challenges from Republicans and the banking industry, who’ve taken issue with a slew of agency policies, including those regulating credit card late fees and those making it easier for consumers to switch between banks.

In May 2024, the Supreme Court rejected a constitutional challenge to the agency’s funding structure, reversing a lower court decision in a 7-2 ruling. The high court’s decision — authored by Justice Clarence Thomas, a conservative — has bolstered the agency but likely won’t shield it from ongoing criticism and legal attacks.

Not everything the agency does has courted controversy. Recently, the agency won praise from Republicans for a new rule that would allow consumers to have more control over how their financial data is used by banks and other financial firms.