Stuve Gold Appoints Gordon Aldcorn as President, Adjusts Private Placement
Calgary, Alberta -- June 9, 2021 -- NewsGenie -- Stuve Gold Corp. (TSXV:STUV) has announced the appointment of Gordon Aldcorn as President, effective immediately. Aldcorn brings over 15 years of experience with junior resource companies, focusing on corporate development and strategy.
CEO Al Kroontje stated that Aldcorn has been an integral part of the Company’s achievements since November 2020. Aldcorn expressed his enthusiasm for his new role, aiming to unlock the company’s potential efficiently.
Concurrently with Aldcorn's appointment, the investor relations contract with Alliance Capital Partners, dated November 1, 2020, has been terminated.
Amendment to Private Placement
Stuve Gold has reduced the size of its recently proposed private placement to gross proceeds of $500,000. This adjustment follows a review of cash requirements, with the management determining that the initial drilling programs on the Coba SW and Inca properties can be executed with the reduced funding. The terms of the private placement remain unchanged, involving the issuance of up to 2,500,000 units at $0.20 per Unit, each comprising one common share and one common share purchase warrant. Each Warrant allows the holder to acquire a common share at $0.35 for 2 years.
The private placement is subject to regulatory approvals from the TSX Venture Exchange.
Grant of Options
The Company has granted 516,000 options to officers of the Company at a price of $0.26 per common share, exercisable for 5 years, with a vesting provision of one third on the date of grant and the following 2 anniversaries.
About Stuve Gold
Stuve Gold advances mineral properties in Chile with potential for gold, copper, silver, and cobalt. Properties include ‘Inca’, ‘Coba SW’, and ‘Santa Gracia’. Stuve Gold is listed on the TSX-V under the symbol "STUV".