Mr. Quinton Hennigh reports
NOVO ANNOUNCES CHANGES IN MANAGEMENT TEAM, APPOINTS NEW CEO AND CFO
Novo Resources Corp. 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. 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 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 five years of experience in corporate finance. He has been employed by Baron Global Financial Canada Ltd., a full-service merchant bank providing continuing 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, B.C.
"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 ourBeatons 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 1.75 million 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 95 cents per share.
One million five hundred thousand 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-per-cent interest in approximately two square km covering much of the Tuscarora gold-silver vein district, Nevada.
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