Magna Terra Announces Changes to Its Board of Directors
Magna Terra Minerals Inc. announced the resignation of Denis Hall from its Board of Directors, with Gernot Wober appointed as his replacement. Wober, a seasoned geologist with over 32 years of international experience, previously served as VP Exploration at Discovery Silver Corp., where he identified the Cordero silver deposit. He has held significant roles in various mining projects across Latin America and North America. The company also issued 2,965,000 stock options to officers and consultants at an exercise price of $0.055 per share for five years. This leadership change is expected to enhance the company's exploration efforts, reflecting its focus on precious metals in Canada and Argentina.
- Gernot Wober's extensive experience in exploration could enhance company projects.
- Issuance of 2,965,000 stock options may incentivize management and align interests.
- Resignation of Denis Hall raises questions about continuity in the Board.
TORONTO, ON / ACCESSWIRE / February 14, 2023 / Magna Terra Minerals Inc. (the "Company" or "Magna Terra") (TSXV:MTT) announces that Mr. Denis Hall has resigned his seat on the Board of Directors and will be replaced by Mr. Gernot Wober.
Mr. Wober is a professional geologist (P. Geo.) and has over 32 years of international experience, including substantial time spent in Latin America. Mr. Wober is currently the VP Exploration for Discovery Silver Corp. where he started in 2018, and in 2019 identified the Cordero silver deposit in Chihuahua, Mexico for acquisition. Previously, he served as VP Exploration, Canada, at Osisko Mining Inc. ("Osisko"), during which time he took part in several key mergers and acquisitions and led the team through the advancement of the Windfall Au Deposit and the discovery of the new Lynx Zone. Prior to his role at Osisko, Mr. Wober held the position of VP Exploration for Oban Mining Corporation from 2012 to 2016, working on a wide array of projects in Latin America, including the Antamayo skarn/manto project in Peru, and the Guaynopa skarn project in Mexico. From 2008 through to 2012, working for the Pebble Limited Partnership, Mr. Wober was the Director of Site Operations for the Pebble Cu-Mo-Au project in Alaska, managing the field team through a Pre-Feasibility Study ("PFS") and the expansion of the resource from 3 billion tonnes to 9 billion tonnes. From 2005 to 2007, Mr. Wober acted as the VP Exploration for Great Basin Gold Ltd. ("Great Basin") based in Johannesburg, South Africa, during which time he managed the field work for the PFS, Feasibility Study, and ramp development of the Burnstone Au project. During his tenure with Great Basin, he was also responsible for geology during the advancement of the Hollister Au underground project in Nevada through to PFS and eventual bulk sample development. Mr. Wober's career also includes exploration roles with Chevron Canada Resources Limited at various prospects in British Columbia and the NWT, Noranda Exploration Company Limited in the Yukon at Brewery Creek Au deposit & various prospects in BC, for Taseko Mines Ltd at the Prosperity Cu Project and the re-start of the Gibraltar Cu Mine near Williams Lake. He completed his B.Sc. Geology from the University of British Columbia.
Lew Lawrick - President & CEO commented, "I would like to thank Denis for his many years of service to the Company and wish him the best in his retirement. We are very pleased to have Gernot join our Board. As an exploration focused company, our first priority is assembling the best team possible to ensure success. Gernot's considerable experience and track record of outstanding exploration successes and achievements, adds to an already deep and experienced geological team here at Magna Terra that bodes well for the future of our ongoing project exploration efforts."
The Company also announces that it has granted a total of 2,965,000 stock options to certain officers, directors, and consultants to the Company in accordance with its stock option plan. Each option is exercisable at
About Magna Terra
Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in Toronto, Canada. Magna Terra owns two district-scale, resource stage gold exploration projects in the top-tier mining jurisdictions of New Brunswick and Newfoundland and Labrador. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its precious metals discovery on its Luna Roja Project, as well as an extensive portfolio of district scale drill ready projects available for option or joint venture.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
647-478-5307
Email: info@magnaterraminerals.com
Website: www.magnaterraminerals.com
SOURCE: Magna Terra Minerals Inc.
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