Ascot Resources Ltd (TSXV: AOT) (“Ascot” or the “Company”) is pleased to announce the appointment of Mr. Don Njegovan to the Ascot Board of Directors (the “Board”) effective immediately. Mr. Njegovan, currently the Vice President of New Business Development at Osisko Mining, headquartered in Toronto, Canada, brings a wealth of experience in both the banking and mining sectors with senior roles held previously at Scotiabank and Hudson Bay Mining & Smelting Co. Mr. Njegovan holds a Bachelor of Science Mining Engineering from Michigan Technological University and a Bachelor of Arts from the University of Manitoba. He was also a director of St. Andrew Goldfields prior to its acquisition by Kirkland Lake Gold in 2016.
Capt. John Swann has decided to retire from the Company’s board in favour of adding Mr. Njegovan. Capt. Swann, a former Merchant Captain with extensive experience in the marine industry, was involved in the design and construction of the Swamp Point barge transfer system and the proposed ship dock and since then has served Ascot as an independent director. Capt. Swann will continue to consult for Ascot on its Swamp Lake asset as required.
Derek White, President & CEO, commented. “On behalf of everyone at Ascot we would like to thank John for his contribution and guidance towards the growth of the Company, particularly for his insight and understanding of our Swamp Point asset. We wish him well in his future endeavors. We would also like to take this opportunity to welcome Don to the team. We believe that he will bring a valuable and diverse skill set to help strengthen Ascot’s Board from both a corporate and technical perspective.”
In addition, the Company has granted 200,000 incentive stock options to Mr. Njegovan. The stock options were granted on January 16, 2018 upon approval of Mr. Njegovan’s appointment to the Board and with an exercise price of $1.31 per share for a five-year period from the date of grant.
ASCOT RESOURCES LTD.
Per: Derek C. White
Derek C. White, President and CEO