Vancouver, British Columbia--(Newsfile Corp. - August 11, 2022) - Pan Global Resources Inc. (TSXV: PGZ) (OTC Pink: PGNRF) ("Pan Global" or the "Company") is pleased to announce effective August 16, 2022 the appointment of Andrew "Andy" Marshall as Chief Financial Officer ('CFO"), replacing Christina Cepeliauskas who will remain as a consultant with the Company in a transitional capacity for a period.
Mr. Marshall is a Chartered Accountant and Chartered Financial Analyst with more than 11 years of finance and CFO experience in the mining sector. He has an extensive background in financial and risk management; corporate reporting, ESG management; M&A transactions and working with international jurisdictions. Most recently, he served as Chief Financial Officer at First Mining Gold Corp. and assisted in building the company's gold project portfolio during its initial period of growth in 2015 when it acquired eight companies in just over one year. Prior to this, Andy held finance roles at two Vancouver based TSX/NYSE MKT-listed silver mining companies with operations in Mexico and Canada. Mr. Marshall started his career with PricewaterhouseCoopers LLP in London and moved to Vancouver in 2008.
Tim Moody, Pan Global President and CEO, states: "We are very pleased to welcome Andy to our growing senior management team. His background in finance, mining and project development will be a great fit as we continue expanding the La Romana copper discovery and explore new targets at the Escacena project in southern Spain. On behalf of the Board of Pan Global, I thank Christina for the excellent support and professionalism she has provided as CFO on a part-time basis over a number of years. We are very pleased that Christina has agreed to continue supporting Pan Global during a transition period."
"I am very excited to join the team at Pan Global and support the next stage of corporate growth. The work and results to date are impressive and we are entering a pivotal period for the advancement of the Escacena project which is in an excellent jurisdiction for development; and all this at a time when the macro outlook for copper and tin has never looked better," stated Andy Marshall.
Mr. Marshall has been granted 750,000 stock options and 200,000 restricted share units (“RSU’s”) of the Company. The stock options and RSU’s were granted pursuant to the Company’s Omnibus Equity Incentive Compensation Plan. Each stock option entitles the holder to purchase one common share of the Company at a price of $0.47 per common share for a period of five years from the date of grant. The RSU’s will vest over 18 months from the effective date of Mr. Marshall’s appointment, with 2/3 (133,333) vesting 12 months after the effective date and the balance (66,667) vesting 18 months after the effective date.
About the Escacena Project
The Escacena Project includes a large, plus 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. The project is located near operating mines at Las Cruces and Rio Tinto, and is immediately adjacent to the former Aznalcollar and Los Frailes mines where Grupo Mexico is in the permitting stage to restart mining. The Escacena Project hosts the La Romana copper/tin discovery and a number of other prospective targets, including La Jarosa, Hornitos, Zarcita, Pilar, Bravo and Barbacena.
About Pan Global Resources
Pan Global Resources Inc. is actively engaged in base and precious metal exploration in southern Spain and is pursuing opportunities from exploration through to mine development. The Company is committed to operating safely and with respect to the communities and environment where we operate.
James Royall, P Geo, VP Exploration for Pan Global Resources and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information for this news release. Mr. Royall is not independent of the Company.
On behalf of the Board of Directors
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Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
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