TIDMSOLG
RNS Number : 4948T
SolGold PLC
20 March 2023
20 March 2023
SolGold plc
(" SolGold " or the " Company ")
Appointment of CFO and CEO
The Board of Directors of SolGold (LSE & TSX: SOLG) is
pleased to announce the appointment of Mr. Chris Stackhouse as
Chief Financial Officer of the Company ("CFO"), effective 17 April
2023 .
Mr. Stackhouse is an accomplished finance professional with over
20 years of experience successfully managing development stage
assets through operations with extensive experience living and
working in South America.
Mr. Stackhouse spent seven years with Guyana Goldfields Inc.
(acquired by Zijin Mining Group), holding various senior finance
roles, including interim CFO. He was instrumental in the
development and operation of the Aurora Gold Mine, including the
finalization of the feasibility study and project financing. Mr.
Stackhouse obtained his CPA, CA, as an Audit Manager with
PricewaterhouseCoopers, where he worked and lived for three years
in Chile, South America. More recently, Mr. Stackhouse has served
as CFO of Rockcliff Metals (CSE: RCLF) and VP Finance for
Generation Mining (TSX: GENM). He holds a CPA, CA, and Honours
Business Administration BBA degree from Wilfrid Laurier
University.
Mr. Keith Pollocks will continue as interim CFO until Mr.
Stackhouse's appointment. The Board would like to thank Mr.
Pollocks for his work in the role on an interim basis. Mr. Pollocks
will remain with the business for a period of time to ensure an
orderly handover.
Commenting on his appointment, Mr. Stackhouse said, " It is a
privilege to join SolGold at this important time for the Company.
Cascabel is a world-class asset, and I am excited to work alongside
Scott, the Board, and the team in Ecuador, as we strive to deliver
optimal outcomes for SolGold's stakeholders. I will be focused on
supporting the optimization of the organization and ensuring a
fiscally responsible approach to maximizing shareholder value."
SolGold is also pleased to announce that Mr. Scott Caldwell, who
has been serving as Interim CEO, has been appointed as the
Company's Chief Executive Officer. Mr. Caldwell's extensive mining
industry experience and his proven leadership skills make him the
ideal choice to lead SolGold into the future. As part of his new
role, Mr. Caldwell will also assume the position of President of
SolGold Ecuador. This move underscores the Company's commitment to
its operations in Ecuador and its focus on sustainable growth and
development in the region.
Scott Caldwell, Chief Executive Officer, commented, " I am
honoured to have been chosen to lead such a talented team and work
towards achieving our shared goals at SolGold. As we continue to
move forward, I am excited to lead the company into a successful
future. We are thrilled to welcome Chris Stackhouse to our team as
our new CFO. With his exceptional background in finance,
operations, project development, expertise in the mining sector and
Spanish language skills, he brings invaluable experience to our
team. Together, we will work towards delivering on our strategic
initiatives."
To secure his appointment and for retention purposes, Mr.
Caldwell has been granted an exceptional award of 30,000,000
options over ordinary shares in the Company at an exercise price of
GBP0.17 per share that are tied to specific performance criteria
which will be assessed at the end of the vesting period. SolGold is
committed to ensuring executive compensation is aligned with the
best interests of all shareholders. In line with this objective,
the Board of Directors plans to seek shareholder approval at an
appropriate time to amend the Director Remuneration Policy and to
amend certain provisions of the award of options to Mr. Caldwell.
In addition, to facilitate these amendments, the Company will seek
shareholder approval to make certain amendments to the Company's
existing Long Term Incentive Plan or may adopt a new incentive
plan. The proposed new Remuneration Policy and Long Term Incentive
Plan will offer incentives consistent with industry standards,
reflect the Company's performance, and aim to drive success for all
stakeholders.
This announcement was approved for release by Ryan Wilson -
Company Secretary.
Certain information contained in this announcement would have
been deemed inside information.
CONTACTS
Scott Caldwell Tel: +44 (0) 20 3807 6996
Chief Executive Officer
Tavistock (Media) Tel: +44 (0) 20 7920
Jos Simson/Gareth Tredway 3150
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM.
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Scott Caldwell
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2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: CEO
------------------------------------------ ---------------------------
b) Initial notification/Amendment: Initial notification
------------------------------------------ ---------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: SolGold plc
------------------------------------------ ---------------------------
b) LEI: 213800HGFADQBMIEVI76
------------------------------------------ ---------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------
a) Description of the financial instrument, Ordinary Shares of GBP0.01
type of instrument:
Identification code: GB00B0WD0R35
------------------------------------------ ---------------------------
b) Nature of the transaction: Grant of options over
30,000,000 Ordinary
Shares of GBP0.01 in
the Company
------------------------------------------ ---------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
GBP0.17 30,000,000
-----------
------------------------------------------ ---------------------------
d) Aggregated information:
Aggregated volume: 30,000,000
Price: GBP0.17
Total: GBP5,100,000
------------------------------------------ ---------------------------
e) Date of the transaction: 17 March 2023
------------------------------------------ ---------------------------
f) Place of the transaction: Outside a Trading Venue
------------------------------------------ ---------------------------
ABOUT SOLGOLD
SolGold is a leading resources company focused on the discovery,
definition and development of world-class copper and gold deposits
and continues to strive to deliver objectives efficiently and in
the interests of shareholders. SolGold is exploring the length and
breadth of the highly prospective and gold-rich section of the
Andean Copper Belt, which is currently responsible for 40% of
global mined copper production.
The Company operates with transparency and in accordance with
international best practices. SolGold is committed to delivering
value to its shareholders while simultaneously providing economic
and social benefits to impacted communities, fostering a healthy
and safe workplace, and minimizing the environmental impact.
SolGold is listed on the London Stock Exchange and Toronto Stock
Exchange (LSE/TSX: SOLG).
See www.solgold.com.au for more information. Follow us on
twitter @SolGold plc
CAUTIONARY NOTICE
News releases, presentations and public commentary made by
SolGold plc (the "Company") and its Officers may contain certain
statements and expressions of belief, expectation or opinion which
are forward looking statements, and which relate, inter alia, to
interpretations of exploration results to date and the Company's
proposed strategy, plans and objectives or to the expectations or
intentions of the Company's Directors, including the plan for
developing the Project currently being studied as well as the
expectations of the Company as to the forward price of copper. Such
forward-looking and interpretative statements involve known and
unknown risks, uncertainties and other important factors beyond the
control of the Company that could cause the actual performance or
achievements of the Company to be materially different from such
interpretations and forward-looking statements.
Accordingly, the reader should not rely on any interpretations
or forward-looking statements; and save as required by the exchange
rules of the TSX and LSE or by applicable laws, the Company does
not accept any obligation to disseminate any updates or revisions
to such interpretations or forward-looking statements. The Company
may reinterpret results to date as the status of its assets and
projects changes with time expenditure, metals prices and other
affecting circumstances.
This release may contain "forward--looking information".
Forward--looking information includes, but is not limited to,
statements regarding the Company's plans for developing its
properties. Generally, forward--looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved".
Forward--looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied
by such forward--looking information, including but not limited to:
transaction risks; general business, economic, competitive,
political and social uncertainties; future prices of mineral
prices; accidents, labour disputes and shortages and other risks of
the mining industry. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in 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 information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, risks relating to the ability of exploration
activities (including assay results) to accurately predict
mineralization; errors in management's geological modelling and/or
mine development plan; capital and operating costs varying
significantly from estimates; the preliminary nature of visual
assessments; delays in obtaining or failures to obtain required
governmental, environmental or other required approvals;
uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets; inflation; the
global economic climate; fluctuations in commodity prices; the
ability of the Company to complete further exploration activities,
including drilling; delays in the development of projects;
environmental risks; community and non-governmental actions; other
risks involved in the mineral exploration and development industry;
the ability of the Company to retain its key management employees
and skilled and experienced personnel; and those risks set out in
the Company's public documents filed on SEDAR at www.sedar.com .
Accordingly, readers should not place undue reliance on
forward--looking information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
The Company and its officers do not endorse, or reject or
otherwise comment on the conclusions, interpretations or views
expressed in press articles or third-party analysis.
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END
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