Shefa Gems Ltd. announced that following the sad passing of Avi Taub, the founder of Shefa Gems, the COO, Mrs. Vered Toledo stepped up according to the request of the Board of Directors (the "Board") in January this year to become the CEO of the company. Since then Vered has successfully ensured the delivery of the important Certificate of Discovery for the Kishon Mid Reach zone 1 and 2 which now enables significant progress to be made towards the issue of a mining licence. However after more than 21 years with the company since its inception Vered has decided the time has come to retire from the company and with effect from 1st June 2020 she is handing over her position as CEO to Ms. Tali Shalem, the daughter of the late Avi Taub and her appointment as CEO was approved by the Board of Shefa on that day. As per the Company's request, Vered will continue to work with Tali in the handover process for the next 30 days until 1st July 2020. Vered has worked tirelessly for the company since its inception and has contributed significantly to the discoveries of the rare Natural Moissanite and the Carmel Sapphire and its successful evolution into a exploration company which should become Israel's first precious gems mining company hopefully within the next two years. From 2008 until 2018 Tali served as second to Avi Taub and was involved in all aspects of the business including legal and regulatory procedures, finance and fund raising. Prior to that she worked for many years at the family jewellery company with experience in all stages of jewellery production sales and finance. Since 2019 she has been the owner of a new marketing company with a website for the sale of gems and jewellery working with suppliers from Tel Aviv and manufacturers from Israel and Europe.