Mr. Mario Bouchard reports
RADISSON APPOINTS RAHUL PAUL AS CFO
Radisson Mining Resources Inc. has appointed Rahul Paul as chief financial officer. Mr. Paul is a key addition to Radisson's management in order to optimize value creation for the company's shareholders through the exploration and development of the high-grade O'Brien gold project, located along the world-renowned Larder-Lake-Cadillac break in Abitibi, Quebec.
Mr. Paul has more than 12 years of capital markets experience almost exclusively focused on the mining sector. He began his capital markets career in 2006 when he joined the equity research team at Westwind Partners. He was more recently director, research -- precious metals, at Canaccord Genuity, where he covered small/intermediate gold producers and developers for almost 10 years. After leaving the sell side in February, 2019, he has continued his involvement with mining companies helping with corporate development and capital markets/strategic advisory services. During his extensive capital markets career, he worked with a wide range of mining companies and institutional investors clients. He has been involved with several successful North American gold companies through bull/bear markets and through entire business cycles. He has helped several companies manage growth and unlock value by increasing market awareness, facilitating investor outreach, assisting financing/corporate development initiatives and helping manage market expectations/risk as they advanced projects from early-stage exploration through production. He holds a master of business administration (finance) degree from Western University and an undergraduate engineering degree the University of Kerala.
"We are thrilled to have Rahul join the company. Over the course of his career in the capital markets, he completed numerous due diligences on companies and mining projects. He was also involved in multiple financial transactions, while helping companies broaden their shareholders base, developing strong analytical and communication skills, and an extensive network. Having Rahul on board as CFO will benefit Radisson and its shareholders greatly,"
commented Mario Bouchard, president and chief executive officer, Radisson Mining Resources.
"I am excited to join a team that has done an outstanding job with the O'Brien project. In a sector starved of high-grade deposits in low-risk, established jurisdictions, I consider the O'Brien project to be one of the most promising undeveloped gold projects we have seen in recent times. In the last several years, I have had the opportunity to work closely with companies such as Richmont Mining, Claude Resources and Lakeshore Gold who successfully advanced high-grade gold projects before ultimately being acquired by larger gold producers. I see immense potential in the O'Brien project, which is already one of the highest-grade undeveloped gold projects in Canada with an indicated grade of 9.48 grams per tonne gold. The project's location in the established Cadillac camp in Abitibi, Quebec, is also a significant advantage, providing access to extensive infrastructure, milling facilities and skilled labour to lower development/operating risk and potentially support robust economics as a low-cost gold producer in the future. But what attracts me the most are the very high grades mined historically (587,000 ounces grading 15.25 g/t Au from 1926 to 57) from the O'Brien mine as well as the new litho-structural model that suggests the potential for a meaningful increase in grades and tonnage with better targeted drilling. I look forward to work with the Radisson team to unlock value from the O'Brien project through targeted exploration efforts.
"I believe this is a great time to be joining Radisson as a 20,000-metre drill program is picking up pace. This represents the first major drill campaign using the new model to target high-grade zones. While results so far are impressive and help validate the new model, the team is just getting started. I eagerly look forward to additional results from drilling and a steady stream of news flow in the coming months,"
commented Mr. Paul.
Radisson further announces that, pursuant to the company's stock options plan, it has granted to Mr. Paul stock options to acquire 700,000 Class A shares at an exercise price of 20 cents per share for a term of five years expiring Nov. 1, 2024. Of these options, 50 per cent will vest on signing, and the remaining 50 per cent will vest at the 2020 annual shareholder meeting (June, 2020).
Performance stock options
In addition, Mr. Paul will have the opportunity to earn a maximum of up to one million performance stock options to acquire Class A shares of the company at an exercise price of 27 cents per share for a term of five years from vesting date. The stock options will be rewarded based on a series of four performance objectives; the options will only be awarded if the objectives are fully realized and would be granted in tranches of a minimum of 200,000 up to 400,000.
The objectives are related to the company's market capitalization, balance sheet and market awareness of the company and would create significant value for Radisson shareholders if achieved.
About Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100-per-cent-owned O'Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac break in Abitibi, Quebec. The Bousquet-Cadillac mining camp has produced over 21 million ounces of gold over the last 100 years. The project hosts the former O'Brien mine, considered to have been the Abitibi greenstone belt's highest-grade gold producer during its production.
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