Calibre Announces Proposed Update to its Board of Directors and Change to Senior Management
Calibre Mining announced key updates to its board and senior management. Douglas Hurst and Raymond Threlkeld will not seek re-election to the board at the June 12, 2024, annual meeting. Hurst and Threlkeld have served since 2016 and 2018, respectively, contributing significantly to various committees. Calibre nominates Omaya Elguindi, a seasoned tech executive, for board election. Concurrently, CFO David Splett will resign effective July 31, 2024, with Korn Ferry leading the replacement search. These changes aim to bring fresh perspectives and expertise as the company navigates new technological landscapes.
- Nomination of Omaya Elguindi with over 20 years in the tech sector could bring new perspectives and value.
- Recognition of Hurst and Threlkeld's significant contributions to the board and various committees.
- Retention of Korn Ferry for an efficient CFO replacement process ensures continuity and smooth transition.
- Elguindi’s track record with successful startups aligns with enhancing shareholder value.
- Resignation of two experienced board members, Hurst and Threlkeld, may lead to a loss of valuable experience.
- Imminent departure of CFO David Splett, requiring a transition period that might affect financial oversight.
- Potential uncertainty during the transition period until new management and board members are fully integrated.
VANCOUVER, British Columbia, May 17, 2024 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) announces that Mr. Douglas Hurst and Mr. Raymond Threlkeld will not stand for re-election to the Company’s board of directors (the “Board”) during the June 12, 2024 annual general meeting (the “Meeting”). Mr. Hurst has served on the Board since 2016 as a member of the Audit and the Governance Committees. Mr. Threlkeld has served on the Board since 2018 and was a member of the Compensation, Governance and Safety, Health, Environment, Sustainability and Technical Committees. Calibre is pleased to announce that Ms. Omaya Elguindi will be nominated for election at the Meeting as a new member of the Board. The Company also announces the resignation of Mr. David Splett, Senior Vice President and Chief Financial Officer, effective July 31, 2024.
New Board Nominee, Ms. Omaya Elguindi
The Company is pleased to announce that the Board has recommended that Ms. Omaya Elguindi be elected as an independent director of the Company. Her nomination for election to the Board will be voted on by shareholders at the Meeting. Omaya has been a member of the North American technology business sector for over 20 years. She has been a founder, senior executive, and director of numerous innovative companies that went on to be successfully acquired. Omaya continues to advise investors on tech opportunities and is currently the co-founder, President and CEO of Ekaria LLP, a company that manages the retail rewards program for American Express USA.
Blayne Johnson, Chairman of Calibre stated: “On behalf of the board of directors of Calibre Mining, I express our sincere gratitude to Douglas Hurst and Raymond Threlkeld for their dedicated years of service on the Board. Their invaluable experience, insightful contributions, and steadfast commitment have been pivotal to Calibre's success. We wish them continued success in all their future endeavours. We will miss you both.
I am pleased to support the nomination for election of Omaya Elguindi to the Calibre Mining Board of Directors. Having known Omaya for over two decades, I am confident in her ability to bring fresh perspectives and substantial value to our company. Omaya possesses a wealth of experience in the technology sector, having contributed to numerous successful tech startups that have delivered significant shareholder value. We eagerly anticipate Omaya’s expert advice and guidance, especially as we navigate a landscape brimming with emerging technologies that promise to enhance the efficiency and effectiveness of our operations and allow us to find new ways to unlock shareholder value. Upon election at the Meeting, we will formally provide a warm welcome to Omaya to the Calibre board.”
Darren Hall, President and Chief Executive Officer of Calibre, stated: “On behalf of the entire executive team I’d like to thank David Splett for his leadership and dedication to the success of the Company over the last two and half years and I wish him all the best in his future. Korn Ferry has been retained to conduct a Chief Financial Officer replacement search, and David will continue his role and assist in the transition through the end of July.”
About Calibre
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.
ON BEHALF OF THE BOARD
“Darren Hall”
Darren Hall, President & Chief Executive Officer
For further information, please contact:
Ryan King
SVP Corporate Development & IR
T: 604.628.1012
E: calibre@calibremining.com
W: www.calibremining.com
Calibre’s head office is located at Suite 1560, 200 Burrard St., Vancouver, British Columbia, V6C 3L6.
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