Hornby Bay Announces Appointment of Maurice Colson and Grant of Stock Options
Toronto, Ontario--(Newsfile Corp. - October 21, 2019) - Hornby Bay Mineral Exploration Ltd. (TSXV: HBE) (the "Company") announces that Mr. John Doran has resigned from the board of directors of the Company. The Company would like to thank Mr. Doran for his years of service to the Company and wish his success in his future endeavours.
To fill the vacancy created by Mr. Doran's resignation, the Company is pleased to announce the appointment of Mr. Maurice Colson, a former director and officer of the Company, to the board of directors and his appointment as Non-Executive Chairman of the board of directors.
Mr. Colson is a senior investment banker with over 30 years experience in domestic and international capital markets. Mr. Colson holds a Bachelor of Arts from Loyal College and a Masters of Business Administration from McGill University. Mr. Colson has been a financial analyst and institutional equity sales representative and was one of the founding members of a private investment and banking firm. In addition, Mr. Colson was the managing director for Europe of the equity sales departments for the London offices of two of Canada's major investment dealers, Chairman of an investment banking boutique and has more recently acted as an independent corporate finance advisor.
In connection with Mr. Colson's appointment, he has been granted a total of 3,500,000 options to purchase common shares at an exercise price of $0.05 for a period of two years from the date of grant. The common shares issuable upon exercise of the options are subject to a four month hold period from the original date of grant.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Fred Leigh, President & Chief Executive Officer
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This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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