Mr. Henry brings more than 25 years of capital markets and leadership experience having served as CEO of 4 publicly traded junior companies while also serving as VP, Finance and CFO with several public companies listed on the TSX and TSX Venture Exchange, including Tiberon Minerals Ltd., Royal Nickel Corp., Juno Special Situations Corp., and Alturas Minerals Corp.
Peter Gundy, Chairman of the Board stated: “As we continue to move forward, Walter Henry, previously the Chair of the Special Committee is fully committed to executing our Board of Directors’ plan as it relates to the new corporate direction which includes non-dilutive financings, a refocus on our core assets, and a new management team.”
Mr. Henry has had the roles of chairman and director for 12 publicly traded junior companies. He is a Chartered Financial Analyst (CFA) and brings a wide range of expertise to the company’s executive management team given his extensive finance background encompassing capital markets, investment banking, international projects and financial reporting.
Upon assuming the role of Interim Chief Executive Officer, Mr. Henry will no longer be an independent director of the company. The company’s independent directors will remain Mr. Peter Gundy, Ms. Priya Patil, Mr. Gary O’Connor, and Mr. Mark Ashcroft.
The company also announced that it has granted a total 7,500,000 stock options under its stock option plan to all the directors on the company board All of the options are exercisable at a price of $0.05 per share and have a term of 5 years. The options vest 1/3 on granting; 1/3 on the first anniversary of the grant date and 1/3 on the second anniversary of the grant date. Following the grant of these options, a total of 23,560,000 options are outstanding under the company’s stock option plan and 24,296,000 options remain available for issuance.