EXPERIENCED GEOLOGIST JOINS ECR BOARD AS NON-EXECUTIVE DIRECTOR
ECR Minerals plc (LON:ECR), the precious metals exploration and development company, is pleased to announce the appointment of Samuel James Melville Garrett (“Sam Garrett”) as a Non-Executive Director of ECR Minerals plc, with immediate effect.
Mr Garrett holds a Bachelor of Science degree with First Class Honours in Geology and a Master of Economic Geology degree, both from the University of Tasmania. He also holds a Master of Applied Finance degree from Macquarie University in Australia. Mr Garrett has 30 years of exploration management, project assessment and operational experience working for large multi-national and junior mining and exploration companies in ten countries including Australia, Argentina and the Philippines. Mr Garrett is a resident of Australia.
Craig Brown, Chief Executive Officer of ECR Minerals plc, commented: “I am delighted to announce the appointment of Sam Garrett to the board of ECR Minerals. Sam brings extensive geological experience onto the board, not just in Australia but also in South America and the Philippines, where the Company has existing business interests.
The timing of Sam’s appointment is key, as we look to rapidly advance our existing interests and continue to identify new strategic acquisition opportunities.
The ECR Minerals business is growing and developing at some pace and I look forward to providing further updates in the near future.”
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules:
Sam Garrett (aged 52) holds or has held the following directorships or partnerships in the past five years:
*IndoAust Mining Pty Limited was a company of which Sam Garrett was a director until the company ceased to trade, became dormant and was deregistered. The Australian Securities and Investments Commission (“ASIC”) deregistered IndoAust Mining Pty Limited on 18th November 2018.
Sam Garrett holds no shares in the Company and has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules. As a condition of his appointment, the Company has agreed to issue him with options to purchase 7,500,000 new ordinary shares of the Company (equating to approximately 1.68% of the Company’s current issued ordinary share capital) at 1.125 pence per share.
The options will vest immediately but will only become exercisable a) after six months of service by Mr Garrett and b) when the Company’s five consecutive trading day volume weighted average share price exceeds a 1.75p threshold. The options will be exercisable for five years from the vesting date. The other terms and conditions of the options shall be the same as for those options in the management and consultant option pool announced by the Company on 11 July 2018 (which have not yet been issued).
Full RNS Update Link
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned