REG - SolGold PLC - Appointment of CFO and CEO

SolGoldAnnouncement

20/03/2023 07:00

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RNS Number : 4948T  SolGold PLC  20 March 2023

20 March 2023

SolGold plc

("SolGold" or the "Company")

Appointment of CFO and CEO

 

The Board of Directors of SolGold (LSE & TSX: SOLG) is pleased to announce
the appointment of Mr. Chris Stackhouse as Chief Financial Officer of the
Company ("CFO"), effective 17 April 2023. ‎

Mr. Stackhouse is an accomplished finance professional with over 20 years of
experience successfully managing development stage assets through operations
with extensive experience living and working in South America.

Mr. Stackhouse spent seven years with Guyana Goldfields Inc. (acquired by
Zijin Mining Group), holding various senior finance roles, including interim
CFO. He was instrumental in the development and operation of the Aurora Gold
Mine, including the finalization of the feasibility study and project
financing. Mr. Stackhouse obtained his CPA, CA, as an Audit Manager with
PricewaterhouseCoopers, where he worked and lived for three years in Chile,
South America. More recently, Mr. Stackhouse has served as CFO of Rockcliff
Metals (CSE: RCLF) and VP Finance for Generation Mining (TSX: GENM). He holds
a CPA, CA, and Honours Business Administration BBA degree from Wilfrid Laurier
University.

Mr. Keith Pollocks will continue as interim CFO until Mr. Stackhouse's
appointment. The Board would like to thank Mr. Pollocks for his work in the
role on an interim basis. Mr. Pollocks will remain with the business for a
period of time to ensure an orderly handover.

Commenting on his appointment, Mr. Stackhouse said, "It is a privilege to join
SolGold at this important time for the Company. Cascabel is a world-class
asset, and I am excited to work alongside Scott, the Board, and the team in
Ecuador, as we strive to deliver optimal outcomes for SolGold's stakeholders.
I will be focused on supporting the optimization of the organization and
ensuring a fiscally responsible approach to maximizing shareholder value."

SolGold is also pleased to announce that Mr. Scott Caldwell, who has been
serving as Interim CEO, has been appointed as the Company's Chief Executive
Officer. Mr. Caldwell's extensive mining industry experience and his proven
leadership skills make him the ideal choice to lead SolGold into the future.
As part of his new role, Mr. Caldwell will also assume the position of
President of SolGold Ecuador. This move underscores the Company's commitment
to its operations in Ecuador and its focus on sustainable growth and
development in the region.

Scott Caldwell, Chief Executive Officer, commented, "I am honoured to have
been chosen to lead such a talented team and work towards achieving our shared
goals at SolGold. As we continue to move forward, I am excited to lead the
company into a successful future. We are thrilled to welcome Chris Stackhouse
to our team as our new CFO. With his exceptional background in finance,
operations, project development, expertise in the mining sector and Spanish
language skills, he brings invaluable experience to our team. Together, we
will work towards delivering on our strategic initiatives."

To secure his appointment and for retention purposes, Mr. Caldwell has been
granted an exceptional award of 30,000,000 options over ordinary shares in the
Company at an exercise price of £0.17 per share that are tied to specific
performance criteria which will be assessed at the end of the vesting period.
SolGold is committed to ensuring executive compensation is aligned with the
best interests of all shareholders. In line with this objective, the Board of
Directors plans to seek shareholder approval at an appropriate time to amend
the Director Remuneration Policy and to amend certain provisions of the award
of options to Mr. Caldwell.  In addition, to facilitate these amendments, the
Company will seek shareholder approval to make certain amendments to the
Company's existing Long Term Incentive Plan or may adopt a new incentive plan.
The proposed new Remuneration Policy and Long Term Incentive Plan will offer
incentives consistent with industry standards, reflect the Company's
performance, and aim to drive success for all stakeholders.

 

This announcement was approved for release by Ryan Wilson - Company Secretary.

Certain information contained in this announcement would have been deemed
inside information.

CONTACTS

 Scott Caldwell              Tel: +44 (0) 20 3807 6996

 Chief Executive Officer

 Tavistock (Media)           Tel: +44 (0) 20 7920 3150

 Jos Simson/Gareth Tredway

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.

 1.            Details of the person discharging managerial responsibilities/person closely
               associated
 a)            Name:                                                         Scott Caldwell
 2.            Reason for the notification
 a)            Position/status:                                              CEO
 b)            Initial notification/Amendment:                               Initial notification
 3.            Details of the issuer, emission allowance market participant, auction
               platform, auctioneer or auction monitor
 a)            Name:                                                         SolGold plc
 b)            LEI:                                                          213800HGFADQBMIEVI76
 4.            Details of the transaction(s): section to be repeated for (i) each type of
               instrument; (ii) each type of transaction; (iii) each date; and (iv) each
               place where transactions have been conducted
 a)            Description of the financial instrument, type of instrument:  Ordinary Shares of £0.01

               Identification code:

                                                                             GB00B0WD0R35
 b)            Nature of the transaction:                                    Grant of options over 30,000,000 Ordinary Shares of £0.01 in the Company
 c)            Price(s) and volume(s):

Price(s)  Volume(s)
                                                                             £0.17     30,000,000
 d)            Aggregated information:

               Aggregated volume:                                            30,000,000

               Price:                                                        £0.17

               Total:                                                        £5,100,000
 e)            Date of the transaction:                                      17 March 2023
 f)            Place of the transaction:                                     Outside a Trading Venue

d)

Aggregated information:

Aggregated volume:

Price:

Total:

 

30,000,000

£0.17

£5,100,000

e)

Date of the transaction:

17 March 2023

f)

Place of the transaction:

Outside a Trading Venue

 

ABOUT SOLGOLD

SolGold is a leading resources company focused on the discovery, definition
and development of world-class copper and gold deposits and continues to
strive to deliver objectives efficiently and in the interests of shareholders.
SolGold is exploring the length and breadth of the highly prospective and
gold-rich section of the Andean Copper Belt, which is currently responsible
for 40% of global mined copper production.

The Company operates with transparency and in accordance with international
best practices. SolGold is committed to delivering value to its shareholders
while simultaneously providing economic and social benefits to impacted
communities, fostering a healthy and safe workplace, and minimizing the
environmental impact.

SolGold is listed on the London Stock Exchange and Toronto Stock Exchange
(LSE/TSX: SOLG).

See www.solgold.com.au (http://www.solgold.com.au) for more information.
Follow us on twitter @SolGold plc

 

CAUTIONARY NOTICE

News releases, presentations and public commentary made by SolGold plc (the
"Company") and its Officers may contain certain statements and expressions of
belief, expectation or opinion which are forward looking statements, and which
relate, inter alia, to interpretations of exploration results to date and the
Company's proposed strategy, plans and objectives or to the expectations or
intentions of the Company's Directors, including the plan for developing the
Project currently being studied as well as the expectations of the Company as
to the forward price of copper. Such forward-looking and interpretative
statements involve known and unknown risks, uncertainties and other important
factors beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially different from
such interpretations and forward-looking statements.

Accordingly, the reader should not rely on any interpretations or
forward-looking statements; and save as required by the exchange rules of the
TSX and LSE or by applicable laws, the Company does not accept any obligation
to disseminate any updates or revisions to such interpretations or
forward-looking statements. The Company may reinterpret results to date as the
status of its assets and projects changes with time expenditure, metals prices
and other affecting circumstances.

This release may contain "forward‑looking information". Forward‑looking
information includes, but is not limited to, statements regarding the
Company's plans for developing its properties. Generally, forward‑looking
information can be identified by the use of forward-looking terminology such
as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".

Forward‑looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward‑looking
information, including but not limited to: transaction risks; general
business, economic, competitive, political and social uncertainties; future
prices of mineral prices; accidents, labour disputes and shortages and other
risks of the mining industry. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended.  There
can be no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in
such statements. Factors that could cause actual results to differ materially
from such forward-looking information include, but are not limited to, risks
relating to the ability of exploration activities (including assay results) to
accurately predict mineralization; errors in management's geological modelling
and/or mine development plan; capital and operating costs varying
significantly from estimates; the preliminary nature of visual assessments;
delays in obtaining or failures to obtain required governmental, environmental
or other required approvals; uncertainties relating to the availability and
costs of financing needed in the future; changes in equity markets; inflation;
the global economic climate; fluctuations in commodity prices; the ability of
the Company to complete further exploration activities, including drilling;
delays in the development of projects; environmental risks; community and
non-governmental actions; other risks involved in the mineral exploration and
development industry; the ability of the Company to retain its key management
employees and skilled and experienced personnel; and those risks set out in
the Company's public documents filed on SEDAR at www.sedar.com
(http://www.sedar.com) . Accordingly, readers should not place undue reliance
on forward‑looking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.

The Company and its officers do not endorse, or reject or otherwise comment on
the conclusions, interpretations or views expressed in press articles or
third-party analysis.

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