Auckland, New Zealand: 18 November 2016 – Besra Gold Inc announces that in conjunction with the close of its CAD10 million exit financing, there have been several changes to its Board of Directors.
Effective 17 November 2016, Mr David Seton, Mr George Molyviatis and Mr Les Robinson resigned and Ms Jocelyn Bennett and Mr John Seton were appointed. Mr Jon Morda remains on the Board.
John Seton was Besra’s Chief Executive Officer and will transition to Managing Director of the Company. Jocelyn Bennett is a Swiss fiduciary and Director of Pangaea Holdings Limited. Jon Morda remains on the Board and continues in his role as Chair of the Audit Committee.
John Seton, Managing Director, paid tribute to the departing Board: “David, Les and George have been instrumental in successfully leading the company through the most difficult time in its history. That we are now in the position of having just closed a major financing and are coming out of restructuring proceedings is in no small part due to their efforts. I wholeheartedly thank them for their substantial contribution to the Company over their various tenures.
“I’d also like to welcome Jocelyn Bennett who has already had a significant positive impact by leading the campaign to bring new investment to the company.”
The new Board plans to focus on the development of the company’s world class asset, the multi-million ounce Bau Goldfield in East Malaysia, as well as bringing the company’s continuous disclosure record up to date in order to apply for revocation of the cease trade orders issued against its securities following which the company intends to apply for listing on a suitable bourse as soon as is reasonably practicable thereafter.