Toronto, Ontario--(Newsfile Corp. - April 22, 2019) - Tethyan Resources plc (TSXV: TETH) ("Tethyan" or the "Company") today announced the appointment of Professor Poonam Puri to the Board of Directors. Professor Puri is a Professor of Law and former Associate Dean at Osgoode Hall Law School, and affiliated scholar to Davies Ward Phillips & Vineberg LLP. She is one of Canada's most respected scholars and commentators on issues of corporate governance, corporate law, securities law and financial regulation. Professor Puri is currently a Commissioner of the Ontario Securities Commission and serves on the board of directors of the Canada Infrastructure Bank. She replaces Dr. Michael Andrews who has resigned to focus on his professional commitments at a number of other companies where he holds senior executive positions.
Jerrold Annett, Chief Executive Officer, said, "We would like to thank Dr. Andrews for his long-term support and wish him well in his future endeavours. We are very pleased to have Professor Puri join our Board, bringing deep expertise in the area of corporate governance, as she did at Arizona Mining. With the closing of our $5 million private placement last week, we are well-funded for our 2019 exploration program."
The Company has granted director and officer incentive stock options to purchase 350,000 ordinary shares of the Company, exercisable at a price of C$0.78 per share and C$0.63 per share based on the closing price of the Company's ordinary shares on April 17, 2019, and March 6, 2019, respectively. The options are exercisable for a period of five years and were granted in accordance with the Company's stock option plan.
Tethyan Resources plc, a member of the Augusta Group of Companies, is a precious and base metals mineral exploration company incorporated in England & Wales and listed on the TSX Venture Exchange. Tethyan is focused on the Tethyan Metallogenic Belt in Eastern Europe, mainly Serbia, where it is acquiring and exploring a portfolio of quality precious and base metals projects with known mineralization and compelling drill targets. Tethyan emphasizes responsible engagement with local communities and stakeholders, and is committed to the proactive implementation of Good International Industry Practice (GIIP) and sustainable health, safety and environmental management. More information can be found on Tethyan's website: www.tethyan-resources.com.
Tethyan Resources plc
+44 1534 881 885
Jerrold Annett, Chief Executive Officer
Jacqueline Allison, Vice President, Investor Relations and Strategic Analysis
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the use of proceeds from the private placement and the Company's exploration program. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expected", "intends", "will be", "look forward", "looks" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Tethyan to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals; the size of the exploration program; capital expenditures and other costs; and additional capital requirements. Although management of Tethyan has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Tethyan will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.