Radisson Mining Resources Inc. (TSX.V: RDS)
Announced that it is making a number of changes to its board and management team, while continuing to strengthen its technical team.
The Company believes that the changes to the team and the addition of three new experienced directors will streamline decision making and significantly enhance the Company’s technical and financial strength, in turn positioning the company for the next phase of value creation at O’Brien.
Radisson Mining Announces Board and Senior Management Changes to Position the Company for the Next Stage of Growth
Rouyn-Noranda, Quebec: Radisson Mining Resources Inc. (“Radisson” or the “Company”) (TSX.V: RDS, OTC: RMRDF)announces that it is making a number of changes to its board and management team, while continuing to strengthen its technical team.
Drilling has continued to demonstrate the robust grade and scale potential at O’Brien. The Company believes that the changes to the team and the addition of three new experienced directors will streamline decision making and significantly enhance the Company’s technical and financial strength, in turn positioning the company for the next phase of value creation at O’Brien.
- Michael Gentile, previously Strategic Advisor to the Company has been appointed as a Director of the Company effective today.
- In addition, two new Directors with a strong mining industry background are expected to join the company within the next three months.
- Mario Bouchard is retiring as the Chief Executive Officer effective today but will remain a Director of the Company.
- Rahul Paul, President of the Company will take on the role of Interim Chief Executive Officer in addition to his ongoing responsibilities as President
- Following confirmation of two additional new Directors, the Board is expected to make a final decision on the appointment of Chief Executive Officer.
- Separately, Donald Trudel P.Geo., an experienced geologist with over 30 years experience, and previously Principal Geologist at IAMGOLD’s Westwood operation, has been appointed Senior Project Geologist for the O’Brien Gold Project.
Michael Gentile appointed Director; Two new directors with strong mining industry backgrounds to join in the next three months
The Company is pleased to announce the appointment of Michael Gentile as a Director of the Company effective today. Mr. Gentile was previously a Strategic Advisor to Radisson. He has been one of the largest and most supportive shareholders of Radisson over the last few years. He has had a profound impact on many companies in the Canadian mining space including Radisson.
Since his engagement as Strategic Advisor in May 2019, Radisson’s share price has increased 190%, significantly outperforming the gold price as well as the GDXJ index.
As Strategic Advisor, he has played an important role in strategic planning, capital raising, corporate development initiatives and in enhancing the company’s overall capital markets profile. The Company looks forward to his increased involvement as a Director.
In addition, two new Directors with strong mining industry backgrounds are expected to join the company within the next three months. With the O’Brien project rapidly ramping up the value creation curve, the Company believes that the new board appointees will add significant capital market and mine development expertise required to position the Company for the next stage of growth.
Separately, Luc Simoneau and Jean Dion will be stepping down from the Board of Directors in April 2021. Mr. Simoneau and Mr. Dion have been long-standing directors of Radisson having joined the company in 1991 and 2014, respectively. We thank them for their invaluable contribution over the years and wish them the very best in their endeavours.
Following all the changes, the number of Directors on the Board will remain at seven, as was the case at year end 2020.
Mario Bouchard retiring as CEO; Rahul Paul to be appointed President and Interim CEO
Mario Bouchard is retiring as the Chief Executive Officer effective today but will remain a Director of the Company, and also as Advisor until December 31, 2021.
Rahul Paul, President of the Company will take on the role of Interim Chief Executive Officer. Following confirmation of two additional new Directors, the Board is expected to make a final decision on the appointment of Chief Executive Officer.
Mr. Bouchard took on the role of President and Chief Executive Officer in January 2013. His leadership has been instrumental in guiding the Company through challenging times and laying the foundation for the remarkable success that the Company has enjoyed so far.
Radisson Mining has come a long way under his leadership, with the O’Brien project beginning to demonstrate its true potential. His retirement from the CEO role is part of a well-planned transition to prepare the company for the next phase of our value creation strategy.
Since joining the company as Chief Financial Officer in November 2019, Mr. Paul has played an integral role in strategic planning, financial management, capital allocation and marketing. He was promoted to President in June 2020, has progressively taken on additional responsibilities.
He has been instrumental in enhancing the company’s capital markets profile, increasing institutional ownership, raising over $20 million in capital, and delivering on other value-added initiatives such as the New Alger acquisition in August 2020. His appointment as President and Interim Chief Executive Officer is a logical choice.
Technical team further strengthened: Appointment of Donald Trudel as Senior Project Geologist for the O’Brien Project
Radisson is pleased to appoint Donald Trudel (B.A.Sc., P. Geo) as Senior Project Geologist for the O’Brien Project effective February 16, 2021.
Mr. Trudel has more than 30 years of experience in mining exploration, geology and resource estimation. Most recently he was Principal Geologist at IAMGOLD’s Westwood operation. Prior to that he held various senior technical roles with a number of companies including Monarques Gold, Semafo, Innovexplo, North American Palladium and Richmont Mines.
Mr. Trudel’s appointment is expected to further strengthen Radisson’s technical team following on the recent appointments of Kenneth Williamson (M.Sc., P. Geo) as Senior Advisor, Geology and Nicolas Guivarch (M.Sc., P. Geo) as Manager, Exploration. Mr. Trudel will work closely with Mr. Williamson and Mr. Guivarch to advance the O’Brien Project and to ensure the successful execution of the ongoing exploration program.
“It has been a pleasure to lead Radisson Mining as CEO over the last seven years. I am incredibly proud of what we have been able to accomplish as a team.
Much of our success has been attributed to our ability to attract the right people to advance the O’Brien project, enhance our capital markets profile and continue to evolve as a company.
As a significant shareholder of Radisson, a key priority for me has always been to hire and retain the right people. As such, I am happy to say that our team is stronger than it has ever been before.
The Company and the O’Brien project remain in capable hands. As a Director, I look forward to working with Rahul and the Board to ensure that we continue to build on momentum and take the company to new heights.”
Mario Bouchard, Director of Radisson Mining Resources
Grant of stock options
Further to the Company’s stock options plan, it has granted to Rahul Paul, stock options to acquire 1,600,000 Class A shares of the company at an exercise price of $0.30 per share for a term of 5 years expiring February 16, 2026. Of the options issued, 350,000 will vest immediately and the remaining 1,250,000 options will vest if he is confirmed as Chief Executive Officer at the 2021 Annual Shareholder’s Meeting in June 2021.
In addition, the company has also granted to Michael Gentile, stock options, vesting immediately to acquire 250,000 Class A shares of the company at an exercise price of $0.30 per share for a term of 5 years expiring February 16, 2026.
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