Ethos Gold Corp. Announces Appointment of New Senior Officer and Board Member, Appointment of a New Advisor and a Proposed $654,000 Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 20, 2016) -
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Ethos Gold Corp. ("Ethos" or the "Company") (TSX VENTURE:ECC) is pleased to announce that Craig Roberts, P.Eng. has agreed to join the Board of Directors of the Company and to accept an appointment as Vice President of Corporate Development. Mr. Roberts' appointment will be made effective upon the closing of the proposed financing as outlined below. Mr. Roberts is a mining engineer with over 30 years of operations, consulting, and investment banking experience. This includes work on feasibility studies for numerous mining projects worldwide, investment banking/due diligence roles in over 200 institutional mining equity financings, and significant experience advising management and boards on both friendly and hostile transactions. Mr. Roberts' appointment is subject to TSX Venture Exchange acceptance.
The Company is also pleased to announce that John Robins has joined the Company as an Advisor. Mr. Robins is a professional geologist with over 30 years' experience in the mining industry. His career has focused on mineral exploration and project development. In 2008 he received the Spud Huestis award for having made "a significant contribution to enhance the mineral resources of British Columbia and the Yukon". Mr. Robins is the cofounder of Hunter Exploration, Stornaway Diamond Corporation, Kivalliq Energy Corp., North Country Gold Corp. and Kaminak Gold Corp.. Mr. Robins was also involved in the successful sale/merger of several pubic companies including Grayd Resources Corporation (Agnico Eagle), Troon Resources (Grenville Strategic Royalty), Arauco Minerals (Kinross), Creston Moly Corp. (Mercator) and Northair Silver (Kootenay Silver). Mr Robins is currently the Executive Chairman of Kaminak Gold Corp. and also a director of Kivalliq Energy Corp., Northern Empire Resources Corp. and West Melville Minerals Inc.
Gary Freeman, President and CEO, stated, "Mr. Roberts' and Mr. Robins' broad range of experience in acquiring, financing and developing resource projects will greatly assist in accelerating the Company's efforts to create long term shareholder value by reviewing and securing a high quality mineral asset."
The Company also announces that it proposes to undertake a non-brokered private placement of up to 3,847,058 units ("Units") at a price of $0.17 per unit for gross proceeds of up to $654,000. Each Unit will consist of one common share and one share purchase warrant exercisable for a term of two (2) years (the "Warrants"). Each Warrant will entitle the holder thereof to purchase one additional common share of Ethos at an exercise price of $0.30 per common share during the term of the Warrants.
The private placement is being undertaken primarily to incentivize new and incoming directors and management to generate long-term success for the Company, as well as to fund due diligence and consultant costs associated with an accelerated plan of mineral project assessment and acquisition.
All securities issued in connection with the private placement will be subject to a hold period expiring four months and one day following the closing date. Closing of the private placement is subject to the receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.
No finders fees are payable in respect of the private placement.
Per: Gary Freeman, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
