Group Eleven Announces Michael Gentile Joins Board of Directors of the Company
Group Eleven Resources has appointed Michael Gentile as a non-executive director to its board. Gentile, a prominent strategic investor in junior mining, holds significant stakes in over 20 small-cap mining companies and is the second-largest shareholder of Group Eleven with over 16% ownership. He co-founded Bastion Asset Management in 2022, which manages over $425 million in assets. The company has granted Gentile 150,000 stock options at $0.19 per share, alongside 1,785,000 options to other officers, employees, and directors. Additionally, three non-executive directors received 100,000 deferred share units each at $0.20 per unit.
Group Eleven Resources ha nominato Michael Gentile come direttore non esecutivo del suo consiglio. Gentile, un importante investitore strategico nel settore minerario di piccole dimensioni, detiene partecipazioni significative in oltre 20 aziende minerarie a bassa capitalizzazione ed è il secondo maggiore azionista di Group Eleven con oltre il 16% di possesso. Ha co-fondato Bastion Asset Management nel 2022, che gestisce oltre 425 milioni di dollari in attivi. L'azienda ha concesso a Gentile 150.000 opzioni su azioni a 0,19 dollari per azione, insieme a 1.785.000 opzioni ad altri funzionari, dipendenti e direttori. Inoltre, tre direttori non esecutivi hanno ricevuto ciascuno 100.000 unità azionarie differite a 0,20 dollari per unità.
Group Eleven Resources ha nombrado a Michael Gentile como director no ejecutivo de su junta. Gentile, un destacado inversor estratégico en minería junior, posee participaciones significativas en más de 20 empresas mineras de pequeña capitalización y es el segundo mayor accionista de Group Eleven con más del 16% de propiedad. Co-fundó Bastion Asset Management en 2022, que gestiona más de 425 millones de dólares en activos. La empresa ha otorgado a Gentile 150,000 opciones sobre acciones a 0.19 dólares por acción, junto con 1,785,000 opciones a otros funcionarios, empleados y directores. Además, tres directores no ejecutivos recibieron 100,000 unidades de acciones diferidas cada uno a 0.20 dólares por unidad.
Group Eleven Resources는 Michael Gentile를 비상임 이사로 임명했습니다. Gentile는 주니어 광업 분야의 저명한 전략 투자자로, 20개 이상의 소형 광업 회사에 상당한 지분을 보유하고 있으며 Group Eleven의 두 번째로 큰 주주로 16% 이상의 소유권을 가지고 있습니다. 그는 2022년에 Bastion Asset Management를 공동 설립하였으며, 이 회사는 4억 2500만 달러 이상의 자산을 관리하고 있습니다. 이 회사는 Gentile에게 주당 0.19달러로 150,000주의 주식 옵션을 부여하였고, 다른 임원, 직원 및 이사에게 총 1,785,000주의 옵션을 제공합니다. 또한, 세 명의 비상임 이사는 각각 0.20달러에 100,000개의 연기 주식 단위를 받았습니다.
Group Eleven Resources a nommé Michael Gentile comme directeur non exécutif de son conseil d'administration. Gentile, un investisseur stratégique éminent dans le secteur des mines junior, détient des participations significatives dans plus de 20 petites entreprises minières et est le deuxième plus grand actionnaire de Group Eleven avec plus de 16 % de propriété. Il a cofondé Bastion Asset Management en 2022, qui gère plus de 425 millions de dollars d'actifs. L'entreprise a accordé à Gentile 150 000 options d'actions à 0,19 $ par action, ainsi que 1 785 000 options à d'autres dirigeants, employés et administrateurs. De plus, trois directeurs non exécutifs ont chacun reçu 100 000 unités d'actions différées à 0,20 $ par unité.
Group Eleven Resources hat Michael Gentile zum nicht-executiven Direktor seines Vorstands ernannt. Gentile, ein prominenter strategischer Investor im Bereich der Junior-Minen, hält signifikante Anteile an über 20 kleinen Bergbauunternehmen und ist der zweitgrößte Aktionär von Group Eleven mit über 16% Eigentum. Er hat 2022 Bastion Asset Management mitbegründet, das über 425 Millionen Dollar an Vermögenswerten verwaltet. Das Unternehmen hat Gentile 150.000 Aktienoptionsscheine zu je 0,19 Dollar pro Aktie gewährt, zusätzlich zu 1.785.000 Optionen für andere Führungskräfte, Mitarbeiter und Direktoren. Zudem erhielten drei nicht-executive Direktoren jeweils 100.000 aufgeschobene Aktieneinheiten zu 0,20 Dollar pro Einheit.
- Second-largest shareholder joining board indicates strong insider confidence
- Addition of strategic investor with extensive mining sector experience
- Potential improved access to capital markets through new board member's network
- Strategic alignment between management and shareholders through equity compensation
- Stock option grants represent potential future dilution for shareholders
Vancouver, British Columbia--(Newsfile Corp. - November 4, 2024) - Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that the board of directors has appointed Michael Gentile as a non-executive director of the Company.
Michael is considered one of the leading strategic investors in the junior mining sector, owning significant top five ownership stakes in over 20 small-cap mining companies.
He is currently a director of Northern Superior Resources (SUP), OnGold (ONAU) Radisson Mining Resources (RDS), Roscan Gold (ROS) and Solstice Gold (SGC), and a Strategic Advisor to Northisle Copper and Gold (NCX).
Michael recently co-founded Bastion Asset Management in January 2022, a rapidly growing money management firm in Montreal with over
"On behalf of the Company, we are delighted to welcome Michael to the board" stated Bart Jaworski, CEO. "Being the second largest shareholder of the Company, Michael has been, not only a very big supporter of Group Eleven over the last four years but also, an instrumental part in helping the Company grow its market audience and lower its cost of capital. This has significantly bolstered our funding abilities which were so critical in making the recent Ballywire discovery. Having Michael on the Board, will bring additional capital markets capability to the Company at a time when the Ballywire discovery is increasingly showing signs of a major new zinc discovery in Ireland."
Michael Gentile stated "I made my initial investment in Group Eleven in 2020, due to the fact that there was already over 50 million tonnes of zinc-equivalent resources in the camp and that there was a compelling geological picture that there was much more to discover, with Group Eleven holding a commanding land position and a strong technical team capable of unlocking its potential.
Over the past two years my conviction in the potential of Group Eleven has increased significantly due to the Ballywire discovery, which in my view has potential to be one of the most important new discoveries in Ireland over last 20 years.
Group Eleven is now very well positioned to take the Company to the next level and as the Company's second largest shareholder, holding over 16 percent of the shares in the Company, I look forward to helping do my part to ensure that Group Eleven realizes its full potential in the years ahead."
In accordance with the Company's Stock Option Plan, Mr. Gentile has been granted 150,000 incentive stock options with an exercise price of
The Company also announces that, in addition to the above, it has granted Options to officers, employees and the remaining directors of the Company (14 individuals altogether) to purchase up to 1,785,000 common shares in the capital stock of the Company (on same terms as above). All Options granted are subject to regulatory approval. Separately, three non-executive directors of the board have each received 100,000 deferred share units ("DSUs") at a deemed price of
About Group Eleven Resources
Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire discovery in September 2022. Key intercepts to date include:
- 10.8m of
10.0% Zn+Pb and 109 g/t Ag (G11-468-03) - 10.1m of
8.6% Zn+Pb and 46 g/t Ag (G11-468-06) - 10.5m of
14.7% Zn+Pb, 399 g/t Ag and0.31% Cu (G11-468-12) - 11.2m of
8.9% Zn+Pb and 83 g/t Ag (G11-3552-03) - 29.6m of
10.6% Zn+Pb, 78 g/t Ag and0.15% Cu (G11-3552-12) and - 6.1m of
11.4% Zn+Pb, 85 g/t Ag (G11-3552-13) - 11.8m of
11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
The Company's two largest shareholders are Glencore Canada Corp. (
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514
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.
Cautionary Note Regarding Forward-Looking Information
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. The words "will", "expect", "plan," "intend" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the use of funds from the warrant exercises, the drill campaigns at Ballywire and Carrickittle West and the extent of drilling at Ballywire in 2024.
Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risk that the Company will not be able to use proceeds from the warrant exercises as currently anticipated, risks related to general economic and market conditions; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; and changes in national and local government regulation of mining operations, tax rules and regulations.
Although Group Eleven has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Group Eleven undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228733
FAQ
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