Novo Announces Changes in Management Team, Appoints New CEO and CFO
VANCOUVER, British Columbia, June 06, 2017 (GLOBE NEWSWIRE) -- Novo Resources Corp. (TSX-V:NVO) (OTCQX: NSRPF) (“Novo” or the “Company”) is pleased to announce it has appointed Robert Humphryson as the Company’s Chief Executive Officer (“CEO”). Dr. Quinton Hennigh will become Novo’s first Chairman and retain his position as President.
Mr. Rob Humphryson, a Mining Engineer, graduated from the Western Australian School of Mines in 1990. Mr. Humphryson has over 25 years of experience within ASX-listed companies in the Australian mining industry, gaining broad exposure to underground and open pit mining operations from both a contractor and miner’s perspective. A 17-year career at Macmahon Underground (formerly National Mine Management) culminated in executive operational and business development leadership roles within the group. He has more recently held senior roles at Swick Mining Services (Business Development Manager) and Silver Lake Resources (Chief Operating Officer), where he gained significant exposure to precious metals project construction, operation and acquisitions. Mr. Humphryson is a member of the AusIMM.
Given Mr. Humphryson’s extensive mining background, Novo is in an outstanding position to advance its Beatons Creek gold project toward production. Dr. Hennigh will focus more of his time and expertise on exploring the Company’s newly unveiled large gold project near Karratha.
The Company is also pleased to announce that Ronan Sabo-Walsh, former Vice President Finance, has been appointed as its Chief Financial Officer (“CFO”) and Corporate Secretary. Herrick Lau, the outgoing CFO and Corporate Secretary, will continue to assist Novo as a director. Novo wishes to thank Mr. Lau for his many contributions as CFO, a position he has held since Novo was incorporated in 2009.
Mr. Sabo-Walsh has over 5 years’ experience in corporate finance. He has been employed by Baron Global Financial Canada Ltd., a full-service merchant bank providing ongoing financial and back-office support to public companies, since 2011 and currently holds the title of Assistant Manager, Corporate Finance. Mr. Sabo-Walsh has extensive experience with public listings, merger transactions, and public company management, and holds a Bachelor of Commerce degree in finance from the University of British Columbia in Vancouver, BC.
“I am absolutely delighted to announce the appointment of Rob Humphryson as CEO of Novo,” commented Dr. Hennigh. “Mr. Humphryson fills a critical role within our Company that will assist Novo in growing from an explorer to a mining company. His mining expertise puts Novo in an exceptional position to advance our Beatons Creek gold project toward production as well as look at other potential mining opportunities. I will be refocusing more of my time on exploring our newly unveiled large conglomerate-hosted gold project near Karratha. I look forward to working with Mr. Humphryson to achieve our goal of turning Novo into a formidable new gold mining and exploration company.”
“I am also very pleased to announce appointment of Ronan Sabo-Walsh as CFO and Corporate Secretary. Mr. Sabo-Walsh has proved invaluable to Novo since joining the Company in 2011."
The Company also reports that it has granted incentive stock options to certain officers to purchase up to 1,750,000 common shares in the capital of the Company pursuant to its Stock Option Plan. The options are exercisable on or before June 5, 2022 at an exercise price of CAD$0.95 per share.
1,500,000 of the options issued shall fully vest once the Company begins full-scale commercial production. The remaining 250,000 options shall vest at a rate of one-third at the date of grant, one-third six months following the date of grant, and the final third one year following the date of grant.
About Novo Resources Corp.
Novo’s focus is to explore and develop gold projects in the Pilbara region of Western Australia. Novo also controls a 100% interest in approximately 2 sq km covering much of the Tuscarora Au-Ag vein district, Nevada. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail email@example.com.
On Behalf of the Board of Directors,
Novo Resources Corp.
Chairman and President
Neither 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 news release.
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements relating to the expectation that Novo will become a producing gold mining company. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource industry as well as Novo having sufficient cash to fund the planned drilling and other activities required before the Company is established as a mining company.