Dr. Francis Dube reports
ZENYATTA ANNOUNCES APPOINTMENT OF INTERIM CO-CHIEF EXECUTIVE OFFICERS AND OPTION GRANTS
Zenyatta Ventures Ltd. has appointed Dr. Francis Dube and Donald Bubar as co-chief executive officers on an interim basis to lead the company through the current transition period. Both will report directly to the board of directors and work closely with senior management responsible for operations led by vice-president Peter Wood, PEng, PGeo.
Dr. Dube lead the successful proxy battle that saw the incumbent board of directors removed in favour of the dissident board on May 11, 2018. Since then, Dr. Dube has brought together a strong, diversified board of directors and management team. He will build on his role as head of market development and technology by working with the management team to build business relationships with end-users and other participants in the graphene/nano-materials market. Dr. Dube will also act as interim chairman of the board, a role he has played since the departure of former chairman Brett Richards.
Zenyatta is also pleased to have Donald Bubar, PGeo, a director of Zenyatta, agree to take on the role of co-CEO with responsibility for corporate administration and investor communications. Mr. Bubar is an industry veteran bringing over 40 years of mineral exploration and development experience to the Zenyatta team. As CEO of Avalon Advanced Materials Inc., Mr. Bubar has over 20 years of experience in developing specialty materials resources with emerging markets in clean technology similar to the Albany graphite project. He also has a reputation for making environmental and social responsibility a high priority in any mineral resource development project. Mr. Bubar will work closely with Dr. Dube to rebuild the company's relationship with the capital markets.
The company also announces that it has made a grant of stock options under its stock option plan to certain of its directors and officers to acquire a total of 900,000 common shares of the company. In addition, the company has granted options to acquire an aggregate of 400,000 common shares of the company to certain non-executive employees and consultants. All of the options are exercisable at a price of 53 cents per share. One-third of the options vested on the date of their grant, one-third of the options will vest six months following the date of grant and the balance will vest on the one-year anniversary of the date of grant. The options have a term of five years and are subject in all respects to the terms of the company's stock option plan and the policies of the TSX Venture Exchange.
About Zenyatta Ventures Ltd.
Zenyatta's Albany graphite project hosts a large and unique quality deposit of highly crystalline graphite. Independent labs in Japan, United Kingdom, Israel, United States and Canada have demonstrated that Zenyatta's Albany graphite easily converts (exfoliates) to graphene using a variety of simple mechanical and chemical methods.
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