Royal Road Minerals Announces Board and Management Changes and Incentive Stock Option Grant
TSX VENTURE: RYR
Toronto, Ontario--(Newsfile Corp. - June 4, 2018) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road Minerals" or the "Company"), a gold and copper focused mineral exploration and development company, is pleased to announce leadership changes and the award of stock options under its stock option plan.
Roderick Corrie has been appointed as Chief Financial Officer and as a director of the Company. Mr. Corrie is a founding shareholder and previously served as a director of the Company from May 2010 to 2014. Earlier, Mr. Corrie was a director and Chief Financial Officer of Lydian International Limited during the exploration stage, from December 2007 to March 2014. He has also been a strategic adviser and financier with a variety of companies and has held executive or non-executive roles in corporate finance, strategic advice, TV advertising, financial services, health, property, internet services, oil & gas, mineral exploration & development, investment and manufacturing companies. Mr. Corrie is a graduate of Cambridge University and an Associate of the Chartered Institute of Banking.
In addition, Ivan Devia, formerly the Company's Vice President Operations, will assume the role of Chief Operating Officer, overseeing exploration and development operations in Colombia and Nicaragua. Mr. Devia is an International risk-management and community engagement specialist with 15 years of experience in Latin America and the Middle East. Previously, Mr. Devia spent six years with B2 Gold Colombia as Health, Safety and Security Manager and, prior to that, he was Operations and Security Center Manager for AngloGold-Ashanti in Colombia. He is a graduate of Human Rights and International Humanitarian Law at the university of Nueva Granada.
Jenny Arias will continue her role as Vice President Responsible Development but with her principal focus now being the Company's operations in Nariño Province of southern Colombia. Ms. Arias is an environmental and social specialist from Nariño Province Colombia, where she has worked with local government, NGOs and indigenous authorities in the region. She has designed and implemented environmental policies in Colombia at the national level as well as leading projects to promote community-based conservation with small farmers and indigenous communities in areas of socio-environmental conflict. Ms. Arias has also worked for the United Nations Development Program, coordinating and participating in national initiatives, such as the National Biodiversity Strategy and Action Plan (NBSAP). She graduated with a degree in Biology from the National University of Colombia and has a Masters in Conservation Leadership from Cambridge University, UK.
"It gives me great pleasure to welcome Roderick to the team" said Tim Coughlin, Royal Road's President and Chief Executive Officer. He stated further: "Roderick will bring invaluable financial experience and his characteristic infectious energy to the Company. The Company has made recent advances across all of its operations, our management team is now better positioned to continue this progress and ensure that we meet the high corporate standards we expect and the performance standards we have committed to in regards to environmental stewardship and social responsibility in the highly prospective Nariño province of southern Colombia".
The Company also announces that it has granted incentive stock options to purchase an aggregate of 4000,000 ordinary shares of the Company pursuant to the Company's stock option plan. The options are exercisable until May 4, 2020 at a price of $0.15 per share and shall vest as to 30% of the options, 60 days from the grant date; as to a further 30% of the options, 90 days from the grant date; and as to the remainder of the options, 120 days from the grant date.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include statements regarding the use of proceeds from the private placement transactions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in financing transactions, exploration and development of mineral properties, the hiring and retention of directors and officers, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, permitting and licensing and other factors described above and in the Company's most recent annual information form under the heading "Risk Factors", which has been filed electronically by means of the Canadian Securities Administrators' website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information please contact:
Dr. Tim Coughlin
President and Chief Executive Officer
USA-Canada toll free 1800 6389205
+44 (0)1534 887166
+44 (0)7797 742800