Toronto, Ontario–(Newsfile Corp. – September 23, 2019) – 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 a leadership change and the award of stock options under its stock option plan.
Nigel Chapman has been appointed to the position of Vice President Exploration and will be responsible for overseeing the Company’s exploration activities in Colombia and Nicaragua. Nigel has a Bachelor of Science (Hons) in Geology from Liverpool University (UK) and over 28 years of mineral exploration experience in West Africa, Latin America, the Middle East, Eastern Europe, India and Australia. Prior to graduating as a geologist Nigel served with the Royal Regiment of Fusiliers. Nigel has worked with Rio Tinto, De Beers and was formerly COO of United Kimberley Diamonds. Since 2005 Nigel has been running his own exploration businesses and has spent the last six months consulting to Royal Road and assisting the company with its exploration activities in Colombia.
“It gives me great pleasure to welcome Nigel to the team,” said Tim Coughlin, Royal Road’s President and Chief Executive Officer. He stated further: “Nigel has worked with us for the last six months in Colombia and has made a positive material difference to the Company’s progress, particularly in the prospective but complex departments of Nariño and Cauca in the country’s south. The company has an impressive portfolio of gold and copper exploration projects in Nicaragua and Colombia and I sense that Nigel is relishing the challenge of developing these into significant and valuable mine assets.”
The Company also announces that it has granted employee incentive stock options for its management and employees to purchase an aggregate of 12,000,000 ordinary shares of the Company pursuant to the Company’s stock option plan. The options are exercisable until September 23, 2022 at a price of $0.25 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. The Company now has a total of 15,200,000 incentive stock options in issue representing 7% of the listed outstanding shares of the Company.
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
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