Foran Announces David M. Petroff to Join Board of Directors
Foran Mining Corporation (TSX VENTURE:FOM) announce the appointment of David M. Petroff to the Company's Board of Directors, effective April 20, 2012.
Mr. Petroff has over 30 years' experience in the mining and investment industry, including the role of President, CEO, and Director of zinc producer Breakwater Resources Ltd. from early 2009 until its acquisition by Nyrstar NV in mid-2011. Prior to this, he held senior management and financial positions with several prominent, publicly-traded mining companies and worked in Investment Banking with a major Canadian investment dealer. Mr. Petroff holds a B. Math from the University of Waterloo and an MBA from the Schulich School of Business.
"On behalf of the Board of Directors of Foran, I would like to welcome David," said Darren Morcombe, Chairman of the Board. "We continue to move forward in de-risking Foran's 100% owned McIlvenna Bay base metal deposit. David's appointment further strengthens our Board, bringing to the Company both his strong financial acumen and extensive experience in directing the success of multinational resource companies, including a base metal mining company operating in the Americas".
In connection with Mr. Petroff's appointment, the Company has granted an aggregate of 200,000 incentive stock options of the Company. The options are set for a period of five years, expiring on April 19, 2017, and will allow the holder to purchase a share in the Company at a price of $0.67.
Posted April 23, 2012