December 15, 2015 – Toronto, Ontario: Royal Road Minerals Limited (TSXV:RYR) (“Royal Road Minerals” or the “Company”), a gold focused mineral exploration and development company, is pleased to announce that Cindy Davis has been appointed as Chief Financial Officer of the Company, effective immediately. In this role as Chief Financial Officer, Mrs. Davis will succeed Rebecca Hudson who has resigned from this position.Mrs. Cindy Davis, CPA, CA, is a Senior Financial Analyst at Marrelli Support Services Inc., and provides accounting, regulatory compliance, and management advisory services to numerous issuers on the TSX, TSX Venture Exchange (“TSX-V”) and other Canadian and US exchanges. Previously, Mrs. Davis worked at a public accounting firm focused on small and medium businesses for five years. Mrs. Davis holds a Bachelor of Science degree specializing in Accounting and Economics.Dr. Timothy Coughlin, President and Chief Executive Officer of the Company, stated “I am very pleased to welcome Cindy to the Royal Road Minerals team and look forward to working with her as we take the Company through its next phase of development. Dr. Coughlin also stated, “I would also like to thank Rebecca for her service and contributions to the Company and wish her well in her future endeavours.”
The Company also announces that it has granted an aggregate of 1,200,000 incentive stock options to new personnel to purchase ordinary shares of the Company exercisable at a price of $0.10 per ordinary share and expiring on the second anniversary of the grant date. Pursuant to the Company's stock option plan, the options will vest as to one-third immediately, one-third in six months and one-third in eighteen months from the grant date of the options and are otherwise subject to the terms of the Company's stock option plan.
Neither the 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.
About Royal Road Minerals:
Royal Road Minerals is a gold focused exploration and development company. The Company’s objective is to advance the exploration and development of the La Golondrina project in Colombia. The Company’s priority is the discovery and acquisition of high-grade, high-margin gold projects in highly prospective regions. Royal Road Minerals has a strong social and environmental conscience and aims to exemplify world’s best practice in regards to all aspects of gold exploration and development.
This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements regarding the Option Agreement. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the hiring and retention of directors and officers, exploration and development of mineral properties, mine site planning and development, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, permitting and licensing and other factors described above and in the Company’s most recent annual information form under the heading “Risk Factors”, which has been filed electronically by means of the Canadian Securities Administrators’ website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information please contact:
Dr. Timothy Coughlin President and Chief Executive Officer USA-Canada toll free 1800 6389205+44 (0)1534 887166+44 (0)7797 742800 firstname.lastname@example.org