Roscan appoints Jonah as non-executive chairman
2020-01-13 07:47 ET – News Release
Mr. Nana Sangmuah reports
ROSCAN GOLD STRENGTHENS TEAM WITH APPOINTMENT OF SIR SAMUEL E. JONAH AND MR. MICHAEL GENTILE, CFA TO BOARD OF DIRECTORS
Roscan Gold Corp. has appointed Sir Samuel Jonah as non-executive chairman of the board, and Michael Gentile, CFA, will transition to a board member from current strategic adviser role (Dec. 12, 2019). Further, Roscan has accepted the resignation of the board members Don Whalen and David Mosher, effective immediately.
Nana Sangmuah, chief executive officer of the company, commented: “I would like to thank both Don Whalen and David Mosher for their time and advice over the years as Roscan advanced our project in Mali. Their help has been invaluable in setting the stage for the next phase of growth for Roscan. It is anticipated that this new appointment of Sir Samuel Jonah with his experience and expertise in the mining sector globally, especially in West Africa, will be a tremendous asset to the company. In a similar role, Sir Samuel Jonah was able to transform Equinox Minerals from a $63-million market capitalization company to a $7.4-billion company before selling to Barrick. In addition he had a similar role in transitioning Moto Gold from a $50-million market capitalization company to a $546-million company before selling to Rangold. I am honoured and privileged to have him join the Roscan board and foresee a similar path of value creation under his guidance. In addition, I am very pleased to advise that Michael Gentile has agreed to transition into a more significant role with Roscan as a board member to the corporation.”
“Roscan’s future is bright and exciting,” said Sir Samuel. “The company’s exploration program is off to a great start, and has a great team to take the company to a new level. With positive drill results and news flow this promises to be a very exciting year for Roscan shareholders.”
Appointment of Sir Samuel to non-executive chairman
Sir Samuel earned an associateship in mining engineering at the Camborne School of Mines, Cornwall, England, and subsequently an MSc in mine management at the Imperial College of Science and Technology, London. Sir Samuel has an honourary doctor of science (DSc) degree, awarded jointly by the Camborne School of Mines and the University of Exeter (U.K.) in 1996.
He joined Ashanti Goldfields Corp. in 1979, working in various capacities, including underground operations. At the age of 36 he became the chief executive officer and supervised the transformation of Ashanti Goldfields into a mining multinational, increased gold production from 240,000 ounces per annum to over 1.6 million ounces in over 10 years, and oversaw the company’s listing as the first operating African company on the New York Stock Exchange. He became executive president of Anglo Ashanti Ltd. (world’s second-largest gold producer at the time) in May, 2004, when Ashanti merged with AngloGold Ltd.
In June, 2003, Sir Samuel became the first Ghanaian to be knighted in the 21st century when he was presented with an honourary knighthood by the Prince of Wales, in recognition of his achievements as an African businessman, a leading business executive from the commonwealth and an international public figure. In his long career he has successfully served on many boards, including the board of Vodaphone U.K. and the advisory board of Bank of America. Sir Samuel is the chairman of Helios Towers that had an initial public offering in October, 2019, for $1.8-billion.
Stock options
The company’s board of directors has approved the granting of 3.5 million incentive stock options pursuant to the company’s stock option plan to recently appointed Sir Samuel subject to approval. The options are exercisable at a price of 12 cents per share for a period of five years from issuance.
About Roscan Gold Corp.
Roscan Gold is a well-financed Canadian gold exploration company focused on the exploration and acquisition of gold properties in West Africa. The company has assembled a significant land position of 100-per-cent-owned permits in an area of producing gold mines and major gold deposits, located both north and south of its Kandiole project in western Mali.
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