Toronto, Ontario--(Newsfile Corp. - May 14, 2020) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road Minerals" or the "Company") announces that Vernon Arseneau has resigned as Chief Operating Officer and director of the Company and that it has allocated employee stock options from its existing pool to local management teams in Colombia and Nicaragua.
Travel disruption caused as a consequence of the COVID-19 Pandemic has forced the Company to review its operational structure and delegate responsibility to its local management teams. The Company has allocated two million stock options, each entitling the holder to purchase one ordinary share of the Company at a price of $0.25 for a period of two years, to key management personnel in Colombia and Nicaragua. The Company has issued a total of 14,650,000 employee stock options representing 6.4% of its issued share capital.
Peter Mullens, Chairman of Royal Road Mineral, stated: "Vern has been with Royal Road since the Company's inception and has played an important role in the Company's evolution, we wish him the very best for the future. We are most grateful for the commitment and professionalism of our local teams in Nicaragua and Colombia and for the way in-which they have stepped up to the plate and ensured the Company's safe progress throughout the Coronavirus Pandemic."
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.
For further information please contact:
Dr. Timothy Coughlin
President and Chief Executive Officer
USA-Canada toll free 1800 6389205
+44 (0)1534 887166
+44 (0)7797 742800
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