Western Troy Appoints Charles E. Stott Chairman, Melvyn Williams as Cfo, and Laurie Meloche as Vice President of Corporate Development, Grants Options
Mr. Stott has been a director of Western Troy since 2008. He has a degree in Mining Engineering from the Colorado School of Mines and a law degree from the University of California, Hastings. He was CEO of AMAX Gold where he led the effort to raise $126 million in an IPO, obtained a NYSE listing, and was responsible for the construction and operation of the Sleeper Gold Mine in Nevada. Mr. Stott recently served as a director of Brigus Gold and is a director of Hazen Research, Inc. He is a former Director of Getchell Gold Corporation, and is a Trustee Emeritus at the Colorado School of Mines.
Mr. Williams has been a Director of Western Troy for about two years. Mr. Williams was Chief Financial Officer and Senior Vice President, Corporate Development for Brigus Gold Corporation, where he supervised the securing of project financing in the amount of over $100 million for Brigus Gold's Black Fox Gold Mine in Ontario. Mr. Williams has over 30 years of experience in the finance and natural resources businesses. His experience includes project financing, equity raises, commodities marketing and hedging, capital evaluations, compliance reporting, risk management, capital and operations cost control, and new business development.
Ms. Meloche comes to Western Troy with decades of experience in junior mining company development. Her career in mining began as a consultant to Inmet Mining where she worked for nine years in investor relations and corporate communications. After Inmet, she worked as an independent consultant using her extensive contact network in the Toronto mining community to organize new mining companies, acquire promising prospects, and obtain financing. As part of her compensation package at Western Troy, Ms. Meloche will be granted 250,000 options pursuant to Western Troy's Stock Option Plan. The options will have a term of five years and are exercisable at a price of 10 cents per share.
Western Troy's CEO, Rex Loesby, commented, "Western Troy is extremely fortunate to have these three quality individuals as key contributors to our team. These appointments are part of a new program at Western Troy that is focused on an aggressive plan to seek opportunities that will enhance shareholder value. With sufficient cash to assure survival in the long term, Western Troy is in position to seek opportunities in a difficult environment for junior mining companies. Our intent is to use this environment to seek quality mineral prospects and business combinations that will position Western
Troy for growth."
About Western Troy:
Western Troy's shares trade on the TSX Venture Exchange under the symbol WRY. Western Troy has 33,589,970 shares outstanding. More information on Western Troy can be found on its Website at www.westerntroy.com.
Forward Looking Statements:
Statements in this release that are forward-looking reflect the Corporation's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Corporation's periodic filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Corporation does not assume the obligation to update any forward-looking statement.
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
Contact Information:
Western Troy Capital Resources Inc.
Rex E. Loesby, CEO
Tel: 416-929-3268
Email: RexLoesby@aol.com