TRX Gold Appoints Shubo Rakhit as Chairman of the Board

TORONTO, Oct. 23, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is pleased to announce the appointment of Shubo Rakhit as Chairman of the Board.

Mr. Rakhit has had a prominent career as a highly respected strategist and sought after trusted advisor. His 30+ year career has included senior positions at several global and Canadian investment banks and advisory firms including CIBC, Bank of Nova Scotia, Bank of America Securities, KPMG Corporate Finance and Echelon Wealth Partners. Mr. Rakhit’s distinguished career includes leading over $90 billion of M&A transactions, and over $100 billion of global capital markets issuance, including many well-known transformational transactions and complex capital solutions, that have also encompassed mining companies. The strength of his relationships is characterized by authenticity and trust that will assist the Company in broadening its access to capital markets and its strategic direction at a time of rapid growth for the organization.

Stephen Mullowney, Chief Executive Officer of TRX Gold, states, “We are happy to welcome Shubo as Chairman of the Board of Directors of TRX Gold. Since joining the Board in 2021, Shubo has been a major contributor to the strategic and successful advancement of the Buckreef Gold Project. He has also been a valuable and active member of TRX Gold’s Audit & Risk Committee, as the Chair of the Corporate Governance Committee and as an active member of the Buckreef Gold Project Board of Directors, which includes members from joint venture partners STAMICO, a Tanzanian Government Agency.”

“I am honored to succeed James E. Sinclair as Chairman of the Board,” explains Shubo Rakhit. “I am a believer in the gold resource potential of our host region, the Tanzanian people’s ability and the cooperativeness of government – even more so now, after having recently met government and visited the mine site, local communities, schools and hospitals that have been shaped by TRX Gold’s Corporate Social Responsibility initiatives. I am excited and motivated by the Company’s growth potential, and I strongly believe, that together with my fellow directors and TRX management, the Company can become an important gold producer within the African landscape.”