Galane Gold Ltd. Announces Appointment of New Chief Financial Officer
October 9, 2012
TORONTO, Oct. 9, 2012 /CNW/ - Galane Gold Ltd. ("Galane Gold" or the "Company") (TSX VENTURE:GG) is pleased to announce that Mr. Nick Brodie has been appointed as the Company's Chief Financial Officer, subject to final approval of the TSX Venture Exchange (the "TSXV").
Mr. Brodie previously served as Chief Financial Officer of Katanga Mining Limited, a TSX-listed company which operates a large-scale copper-cobalt project in the Democratic Republic of the Congo. Prior to that, he served as Chief Financial Officer of Copperbelt Energy Corporation Plc, where he was responsible for the finance, procurement and supply, and information technology functions. Mr. Brodie has held various senior positions, including Head of Finance of Cinergy Global Trading Limited and Financial Controller of Total Gas & Power Ltd. He is a Fellow of the Association of Certified Chartered Accountants and holds a BSc (Hons) degree in Geography.
Philip Condon, CEO of Galane Gold commented: "We are very excited to have Nick join our team. His wealth of experience and knowledge will be a tremendous asset to our Company as we grow. Nick has committed to spending a significant amount of time directly overseeing the Company's financial operations in Botswana, which we believe will allow him to engage fully in our growth and development and effectively manage our financial controls."
In connection with his appointment as Chief Financial Officer, Mr. Brodie has been granted options to purchase up to 450,000 common shares in the capital of the Company, which shall vest in three equal tranches commencing on the first anniversary of the grant date and are exercisable for a period of five years at an exercise price of $0.88 per share. The grant of such options is subject to TSXV approval.
Mr. Brodie is replacing Mr. Don Cameron as Chief Financial Officer. Ravi Sood, Chairman of Galane Gold stated: "We would like to thank Don for his contributions to the Company over the past year." Mr. Cameron has agreed to remain available to ensure a smooth transition of responsibilities.
About Galane Gold
Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana. Galane Gold is a public company and its shares are quoted on the TSXV and the BSE under the symbol GG. Galane Gold's management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Galane Gold is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements, unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
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.