Copper North appoints LeClair and Koutsouras to board and grants options
06 Agosto 2012 - 8:25AM
PR Newswire (Canada)
VANCOUVER, Aug. 8, 2012 /CNW/ - Copper North Mining Corp. ("Copper
North" or the "Company") announces the appointment of Messrs. Bill
LeClair and Bill Koutsouras to the Company's Board of Directors
(the "Board") and the resignation of Dr. Robert Gayton. Mr. LeClair
is a Fellow Chartered Accountant with the Institute of Chartered
Accountants of British Columbia and the former Chief Executive
Officer of Crew Gold Corporation ("Crew Gold"). Crew Gold was a
London-based mining company with global operations, which was
subject to a takeover bid between Endeavour Financial Corporation
("Endeavour Financial") and the Severstal Group in 2010. During Mr.
LeClair's tenure as Chief Executive Officer, Crew Gold produced
approximately 250,000 ounces of gold per year from its LEFA mine in
Guinea, West Africa. Mr. Koutsouras is a member of the Canadian
Institute of Chartered Accountants, a Chartered Financial Analyst,
and the former Executive Vice President and Chief Financial Officer
of Endeavour Financial. Endeavour Financial is a financial advisory
firm specialising in the natural resource sector. During Mr.
Koutsouras' tenure, Endeavour Financial was involved in the
restructuring, financing and transformation of numerous companies,
including but not limited to; Wheaton River Minerals (acquired by
Goldcorp), Bema Gold Corporation (acquired by Kinross Gold), and
Pacific Rubiales Energy. Mr. Dale Corman, Chairman of Copper North
stated "I am delighted to announce the appointment of Mr. LeClair
and Mr. Koutsouras to the Copper North board. Mr. LeClair and Mr.
Koutsouras each have extensive experience in the financial
management, operation and strategic direction of large public
resource companies. In recent years, both individuals have been
involved in successful mining transactions". Mr. Corman further
stated "I would like to express my gratitude to Dr. Robert Gayton
for his dedication to the Board during the Company's initial growth
phase following last year's Plan of Arrangement". Dr. Gayton will
remain an advisor to the Company. The Board of Directors of Copper
North has authorized the issuance of stock options to Messrs.
LeClair and Koutsouras to purchase 200,000 common shares each,
subject to the terms of the Company's stock option plan. The stock
options will vest over a two year period: with one third vesting on
the date of grant, one-third on the first anniversary date and
one-third on the second anniversary date. The stock options have a
five year term and allow the holder to purchase one common share of
the Company at a price of $0.10 per share until August 7, 2017.
About Copper North Copper North is a Canadian mineral exploration
and development company. Copper North's assets include the Carmacks
Copper Project located in the Yukon, and the high-grade,
stratiform-copper Redstone Property, located in the Northwest
Territories. Copper North trades on the TSX Venture Exchange under
the symbol COL. Please visit www.coppernorthmining.com. On behalf
of the Board of Directors: "Dale Corman" Mr. Dale Corman Chairman
of the Board 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. Copper North Mining Corp. CONTACT: Peter
Oates, Manager, Investor RelationsTel: 604.638.2505Email:
info@coppernorthmining.comWeb: www.coppernorthmining.comRenmark
Financial CommunicationsTel: 514.939.3989Email:
info@renmarkfinancial.comWeb: www.renmarkfinancial.com
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