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Aurania Announces the Appointment of Tony Wood as CFO & Enters into a $3 Million Loan Agreement with Chairman and CEO
Toronto, Ontario--(Newsfile Corp. - April 22, 2019) - Aurania Resources Ltd. (TSXV: ARU) (OT...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Announces the Appointment of Tony Wood as CFO & Enters into a $3 Million Loan Agreement with Chairman and CEOToronto, Ontario--(Newsfile Corp. - April 22, 2019) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (\"Aurania\" or the \"Company\") is pleased to announce the appointment of Mr. Tony Wood as Chief Financial Officer (\"CFO\") and the entering into of a loan agreement with Dr. Keith Barron.Appointment of CFOAurania's Chairman and CEO, Dr. Keith Barron commented, \"Tony Wood has extensive experience in the resource sector and a proven record of success in guiding mineral exploration companies through the various stages of evolution from exploration through development to production. We appreciate Tony's hands-on management style and welcome him to the management team that is tasked with driving Aurania's 100%-owned, Lost Cities - Cutucu Project forward for the benefit of our shareholders, our host communities, and for Ecuador. I would like to thank Donna McLean, our outgoing CFO, for her dedication to this Company and wish her all the best in her many and varied endeavours.\"Mr. Wood has been instrumental in achieving performance and value growth across diverse commodities, countries and market conditions. Mr. Wood's executive experience includes oversight of finance and operations, strategic planning and organizational development of various publicly-traded exploration and development companies. Over the last 20 years, he has successfully completed close to $1billion in financing and M&A transactions in the mining industry. Mr. Wood has been consulting for the Company on a part-time basis since January 2019. Mr. Wood is an honours graduate, Management Sciences (Marketing) B.Sc., from the University of Lancaster, U.K., and a qualified Chartered Accountant in the UK and Canada. LoanThe Company also announces that it has entered into a agreement with Dr. Keith Barron, the Company's Chairman and CEO, providing for a loan of up to US$3,000,000 (the \"Loan\"). The Loan is unsecured, has a term of two years, bears an interest rate of 2% per annum, and is not convertible into Aurania shares. The Loan will primarily be used to foster an opportunity to advance the Company's exploration strategy that has arisen subsequent to the recently completed rights offering.As a result of Dr. Barron's position as Chai...