Brionor Resources Appoints New Chief Financial Officer and Announces Amendments to its Stock Option Plan
TORONTO, ONTARIO -- (Marketwire) -- 04/19/12 -- Brionor Resources Inc. ("Brionor" or the "Company") (TSX VENTURE: BNR) is pleased to announce the appointment of J. Errol Farr, CMA, as Chief Financial Officer of the Company, effective immediately.
Mr. Farr is the Chief Financial Officer of Anaconda Mining Inc. Prior to joining Anaconda, Errol was President and CEO, and former CFO of Adex Mining Inc., where he led the development plans of the Mount Pleasant mine site in New Brunswick, Canada. Errol is also the former CFO of MagIndustries Corp. where he participated in the development of its potash project and led the development of its forestry assets including the construction of its wood chipping mill in the port city of Pointe Noire, Republic of Congo. He is a Certified Management Accountant and has been a senior executive or director of several other junior mining companies for the past 15 years. Mr. Farr brings extensive financial, management, and operational experience to the Company.
Lewis Lawrick, President and CEO of Brionor commented, "We are very pleased that Errol has joined the Brionor team, with his prior experience and versatile skill set he will be a valuable addition to management, and we look forward to his assistance as we execute on our forward going strategy. I would also like to thank Robert Boisjoli for his valuable contributions to Brionor and wish him all the best in his future endeavors."
Further, the Company also announces amendments to its Stock Option Plan ("SOP"), whereby the number of common shares reserved for issuance under the SOP increases from 2,136,560 to 3,581,246, being 10% of the Corporation's issued and outstanding common shares as at the date hereof. The Company will seek TSX Venture Exchange approval in connection with this increase. At this time as well, the Company, in accordance with its SOP announces the issuance of a total of 850,000 stock options to Management, Directors, and Consultants to the Company. The options were issued at a price of $0.10 per, for a term of five years from issuance.
Brionor is a junior mining exploration company with a portfolio of exploration projects including the 100% owned Pitt Gold Project in Quebec.
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 release.
Contacts: Brionor Resources Inc. Lewis Lawrick, President & CEO: 647-478-5307 Robert Ayotte, Chairman: 450-441-9177 email@example.com
Source: Brionor Resources Inc.