Xmet Inc. Announces Appointment of Kirk Boyd as Chief Financial Officer
TSX Venture Exchange Symbol: XME
TORONTO, Sept. 21 /CNW Telbec/ - Xmet Inc. (TSX-V: XME) ("Xmet") is pleased to announce the appointment of Kirk Boyd as Xmet's new Chief Financial Officer, Corporate Secretary and Treasurer replacing Donna McLean who has resigned from such positions. Xmet wishes to thank Ms. McLean for her dedication and service. Ms. McLean will remain as a consultant to Xmet until September 30, 2011, and in accordance with the terms of her consulting agreement Ms. McLean will surrender 100,000 of the 200,000 stock options previously granted to her on May 31, 2010 and exercisable at $0.20 per share.
Mr. Boyd has served as a director and Chief Financial Officer of various reporting issuers listed on the TSX Venture Exchange (the "Exchange"). Mr. Boyd is also the principal of Kirk Boyd & Associates, a consulting company providing executive services and specializing in strategic planning, corporate restructuring and financial management.
Mr. Boyd has been granted, pursuant to Xmet's stock option plan (the "Plan"), options to purchase up to 200,000 common shares in the capital of Xmet. The options are priced at $0.30 per share and expire 5 years from the date of grant. Such options are subject to the terms and conditions of the Plan, certain vesting provisions and the policies of the Exchange.
About Xmet Inc.
Xmet, through its wholly-owned subsidiary Duquesne-Ottoman Mines Inc. ("Duquesne-Ottoman Mines"), carries out gold and resource exploration and development. Pursuant to the terms of a mining option agreement between Duquesne-Ottoman Mines and Duparquet Assets Ltd., Duquesne-Ottoman Mines can earn an option to purchase 75% of the common shares in the capital of Duparquet Assets Ltd, which legally and beneficially owns 20 claims (commonly referred to as Duquesne West) and 40 claims (commonly referred to as Ottoman) covering an area of 928.6 hectares located approximately 30 kilometres north of the city of Rouyn-Noranda and 10 kilometres east of the village of Duparquet within the townships of Duparquet and Destor in the Province of 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. Mr. Charles Beaudry, P.Geo., Xmet's President and COO, is the designated Qualified Person responsible for this release.
For further information: For further information: XMET INC.: Alexander Stewart, Chief Executive Officer, Phone (416) 644-6588, E-mail: [email protected]; Tim Gallagher, Director, Phone: (416) 925-0090, E-mail: [email protected]; Renmark Financial Communications Inc.: Maurice Dagenais: [email protected]; Christine Stewart: [email protected]; Media - Guy Hurd: [email protected], Tel.: (514) 939-3989 or (416) 644-2020; www.renmarkfinancial.com
Share this article