VANCOUVER, April 17, 2012 /CNW/ - NSGold Corporation (NSX: TSXV) is pleased to announce that its Board of Directors has appointed Glenn Holmes as Chief Executive Officer. Mr. Holmes was previously the Chief Financial Officer of NSGold. Hans van Hoof remains Executive Chairman of the Board of Directors of NSGold.
Mr. van Hoof commented, "As I have signaled in previous communications, NSGold is very much in 'acquisition mode'. With the new management structure Glenn and I will be able to fully concentrate on this objective over the next couple of months".
The Board of Directors also appointed Rob Randall as Chief Financial Officer of NSGold. Mr. Randall was Corporate Controller of Endeavour Mining Corporation (previously Etruscan Resources Inc.) from 1997 to 2011. He has extensive experience with public company reporting and financial operations within the exploration and mining business, and is a member of the Institute of Chartered Accountants of Nova Scotia. The appointment of Mr. Randall as Chief Financial Officer of NSGold is subject to regulatory approval, including that of the TSX Venture Exchange.
NSGold also announces that its Board of Directors has granted stock options to five of NSGold's directors and officers in respect of an aggregate of 750,000 common shares, and to three employees and consultants in respect of an aggregate of 145,000 common shares. The exercise price of the stock options is $0.14 per share. The stock options vest in four equal tranches commencing three months from the date of grant, and will be fully vested in twelve months. The stock options, which were granted under NSGold's 2010 Stock Option Plan, expire five years from the date of grant.
NSGold Corporation is a mineral exploration company actively exploring for gold in Nova Scotia, Canada. NSGold's principal property is the Mooseland gold property, located in Nova Scotia. NSGold's shares are listed on the TSX Venture Exchange under the symbol NSX.
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.
For further information:
Glenn A. Holmes
Chief Executive Officer, NSGold Corporation