12:09:01 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



Great Western Minerals Group Ltd
Symbol GWG
Shares Issued 418,738,174
Close 2014-02-28 C$ 0.095
Market Cap C$ 39,780,127
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Great Western appoints Higson-Smith as director

2014-03-03 16:10 ET - News Release

Ms. Deborah Pawlowski reports

GREAT WESTERN MINERALS GROUP ANNOUNCES DIRECTOR CHANGES

Effective March 3, 2014, Bruce Higson-Smith was appointed as an independent director of Great Western Minerals Group Ltd., and Ron Hochstein has resigned from the board.

Robert Quinn, chairman of the board of Great Western Minerals Group, commented, "Bruce is an exceptional leader with a proven track record of success in key disciplines, and we look forward to drawing on his deep industry experience as we continue to execute on our mine-to-market strategy."

Mr. Higson-Smith is a mining engineer with more than 30 years of experience in the mining industry. He joined Golden Star Resources Ltd., a Toronto Stock Exchange-listed and NYSE MKT-listed company, in 2003 and is currently its senior vice-president of corporate strategy, with responsibility for evaluating and executing merger-and-acquisition opportunities. Previously, he spent 10 years reviewing projects, conducting due diligence, and negotiating and structuring mining transactions around the world, initially with the Castle Group, a mining investment management company, and then with Resource Capital Funds. Mr. Higson-Smith has previously served on the boards of two Canadian public companies, is a member of the Society of Mining Engineers and received an MBA in finance from Baruch College, City University of New York.

The company has granted Mr. Higson-Smith 400,000 options to acquire common shares of Great Western Minerals Group. The options are exercisable into common shares of the company at a price of 9.5 cents per share for a period of five years from the date of grant and will vest in accordance with the company's stock option plan.

Mr. Hochstein had served as a director since January, 2013, and as lead independent director since May, 2013. The company's board continues to consist of six directors, including four independent directors. A new lead independent director will be determined at a future date.

Mr. Quinn added: "We understand Ron's decision and thank him for his commitment to Great Western and the many contributions in helping lead the company forward. His extensive experience and skill were invaluable to our ongoing efforts."

Mr. Hochstein stated, "I am proud to have worked with the Great Western board and its employees, and believe they are on the right strategic path."

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