Golden Tag Announces Management Changes and up to $1.125 Million Non-Brokered Financing
TORONTO, May 28, 2020 (GLOBE NEWSWIRE) -- Golden Tag Resources Ltd. (“Golden Tag” or the "Company" ) (TSX.V: GOG) is pleased to announce the restructuring of the
Company, and a non-brokered private placement offering (the “Private Placement”, or “Financing”) for gross proceeds of up to $1,125,000. Subsequent to closing of
the Financing, the Company will have cash balances of approximately $2.1 million, and no debt.
The Company announces the resignations of Bruce Robbins as a Director and interim CEO, and of Marc Carrier as Director, President and CFO of the Company who have been involved as directors for 20 and 30 years respectively. The Company would like thank Mr. Robbins and Mr. Carrier for their many years of service including many during difficult market conditions.
Concurrently, the Company announces the appointment of Mr. Greg McKenzie as President and CEO, and a Director of the Company.
Mr. McKenzie (JD, MBA) is a former senior investment banker with more than 20 years of experience in financing, M&A, financial advisory, valuation, and strategic advice to mid-cap companies. Mr. McKenzie has held positions with Morgan Stanley, CIBC World Markets and Haywood Securities, and has been involved in transactions valued in excess of $18 billion. In addition to his capital market experience Mr. McKenzie previously practiced corporate law with a leading Canadian securities and M&A law firm.
“We are very pleased to welcome Greg to lead our team”, commented Chad Williams, Chairman of the Company, adding, “His extensive mineral investment experience will be of great value in meeting our corporate objectives and for seeking as well as evaluating future opportunities to complement our existing precious metal assets.”
In addition, Mr. Carmelo Marrelli (CPA, CA, CGA) has been appointed as CFO of the Company effective immediately. Mr. Marrelli is the Principal of Marrelli Support Services Inc., delivering accounting, regulatory compliance and investment based services to several issuers on the TSX and TSX-Venture exchanges.
Mr. Will Ansley (CPA, CA) has been appointed as Vice President of Corporate Development and Investor Relations. With over 20 years of experience Mr. Ansley has been involved with the development of six mines in Ontario; Mr. Ansley was the Director of Business Development for FNX Mining Company Inc. and the Vice President of Corporate Planning & Strategy for Lake Shore Gold Corp., and was the Chief Operating Officer of Mineral Streams Inc. where he helped orchestrate its successful sale to AuRico Metals Inc. in 2015.