Vancouver, British Columbia--(Newsfile Corp. - May 15, 2019) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTCQB: SXNTF) (the "Company" or "Sixty North Gold") is pleased to announce that Gavin Kirk has been appointed as President, CEO and a Director of the Company, effective immediately.
John Campbell, Chairman of the Board of Directors, reports, "Gavin Kirk's appointment is an exciting development for the Company. His extensive background and connections in the investment community will help us accelerate our fund-raising and operational programs. We plan to arrange funds for drilling of the targets on the volcanogenic massive sulphide ("VMS") zone discovered in 2018 spruce bark and rock sampling, and further confirmed through the 2019 airborne geophysics program. His energy will be a great asset as we move forward on the VMS exploration, underground bulk sampling of the former-producing A-Zone, and early-stage exploration of the potential gold shear zone targets."
Mr. Kirk has worked in the investment community since 1985, beginning with Lévesque Beaubien Geoffrion (now National Bank Financial), followed by Union Securities Ltd. and Raymond James Ltd. During his 25 years in the capital markets, he gained extensive experience in sales and trading, as well as early-stage company financing, marketing, strategic planning and corporate restructuring.
As part of the management changes, former and founding CEO Ronald Handford has agreed to step down as CEO and a Director, and take on the roles of Vice President, Corporate Development and Corporate Secretary. Chairman and Chief Financial Officer, John Campbell, has stepped down from the roles of President and Corporate Secretary.
Mr. Campbell stated, "The Board would like to thank Mr. Handford for his diligence in guiding the Company through its first technical report, a successful IPO, other private financing and operational milestones, and raising the profile of the Company through marketing and social media programs. We look forward to his continued contributions in his new roles with the Company."
The Company and Messrs. Campbell and Handford have also agreed that the Company will settle the sum of $15,000 owed to Mr. Campbell for three months' accrued management consulting fees (January 15 to April 15, 2019) and the sum of $40,000 owed to Mr. Handford for four months' accrued management consulting fees (January 15 to May 15, 2019), to be paid by the issuance and delivery of 300,000 common shares and 800,000 common shares, respectively, at a deemed value of $0.05 per share, plus GST. In addition, the parties have agreed that any further accrued consulting fees will be settled upon the closing of the next equity financing in further common shares or cash at the election of either Mr. Campbell or Mr. Handford.
About the Company
The Company is engaged in acquisition, exploration and development of mineral properties. Its principal target is the exploration for gold on the Mon Gold Property, 40 km north of Yellowknife, NWT. The Mon Gold Property consists of 11 contiguous mining leases and 3 mineral claims, comprising an aggregate 1,536.92 acres, located in the South MacKenzie Mining District, NWT. For more information, please refer to the Company's Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman, CFO and Director
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Further details about the risks applicable to the Company are contained in the Company's Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company's profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
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