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Freeman Gold Corp
Symbol FMAN
Shares Issued 55,780,181
Close 2020-10-06 C$ 0.56
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Freeman Gold appoints Moubarak CFO, Matysek adviser

2020-10-07 08:53 ET - News Release

Mr. William Randall reports


Freeman Gold Corp. has appointed Paul Matysek as strategic adviser and Bassam Moubarak as chief financial officer, effective Oct. 1, 2020. Mr. Moubarak has also been appointed to the company's board of directors.

Mr. Matysek is a serial entrepreneur, geochemist and geologist with over 40 years of experience in the mining industry. Since 2004 as chief executive officer or chairman, Mr. Matysek has primarily focused on the exploration, development and sale of five publicly listed companies, in aggregate worth almost $2.9-billion. Most recently, he was executive chairman of Lithium X Energy Corp., which was sold to Nextview New Energy Lion Hong Kong Ltd. for $265-million in cash. Mr. Matysek was president and CEO of Goldrock Mines Corp., which sold to Fortuna Silver Mines in July, 2016. He was previously CEO of Lithium One, which merged with Galaxy Resources of Australia to create a multibillion-dollar integrated lithium company. He served as CEO of Potash One, which was acquired by K+S Ag for $434-million cash in a friendly takeover in 2011. Mr. Matysek was also the co-founder and CEO of Energy Metals Corp., a uranium company that grew from a market capitalization of $10-million to approximately $1.8-billion when sold in 2007.

Mr. Moubarak is a seasoned senior executive with over 10 years experience in the mining industry. Mr. Moubarak was CFO of Lithium X Energy Corp. where he played a key role in its sale to NextView New Energy Lion Hong Kong Ltd. for $265-million. Prior to this Mr. Moubarak was chief financial officer of Goldrock Mines Corp. where he was instrumental in its sale to Fortuna Silver Mines Inc. for $180-million. He was chief financial officer of Petaquilla Minerals Ltd., where he was responsible in raising in excess of $120-million to develop and bring into production the Molejon gold mine. He also played a major role in the sale of Petaquilla Copper Ltd. to Inmet Mining Corp. for $400-million and negotiated the sale of Golden Arrow Resources Corp.'s 1-per-cent net smelter royalty on the Gualcamayo gold mine to Premier Royalty Inc. for $17.75-million. Mr. Moubarak is a chartered professional accountant and was previously a senior manager with the international accounting firm Deloitte LLP., where he led audits of public companies and oversaw SOX 404 implementations with specific emphasis on the mining industry.

Commenting on the appointment, Freeman chief executive officer William Randall said: "I am excited to be partnering with Paul and Bassam again as we work together to unlock and enhance the value of the Lemhi gold project. Within the space of 18 months while managing Lithium X, this team raised over $50-million, executed on key technical and corporate priorities, attracted several interested parties, and finally sold the company for $265-million cash. We hope to catch lightning in a bottle again and look forward to having Paul and Bassam part of our highly qualified Freeman team."

The appointment of Mr. Moubarak follows the resignation of Kelvin Lee as chief financial officer. The company would like to thank Mr. Lee for his contributions and wishes him well on his future endeavours.

The company further announces an aggregate grant of 1.3 million stock options to certain directors, officers and consultants of the company exercisable at 60 cents expiring five years from the date of grant, subject to regulatory approval.

About Freeman Gold Corp.

Freeman Gold is a mineral exploration company focused on the development of its 100-per-cent-owned Lemhi gold property. The Lemhi project comprises 30 square kilometers of highly prospective land. The mineralization at the Lemhi project consists of shallow, near-surface primarily oxide gold mineralization that has seen over 355 drill holes but remains open at depth and along strike in most directions. The company is working toward derisking the asset and producing a maiden National Instrument 43-101 resource estimate as a result of both brownfields and greenfields exploration.

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