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- Strickland Metals (STK) has made multiple new management appointments as it begins to refocus and revitalise the company
- Andrew Bray has been appointed CEO, Trent Franklin as Non-Executive Director and Peter Langworthy as Technical Advisor
- Between them, these three have more than 40 years’ experience in the resources and mining sectors
- Strickland has also launched a pro-rata entitlement issue to raise roughly $5.05 million
- Shareholders will be able to subscribe for two fully-paid ordinary shares for every three held and receive one free attaching option for every two new shares subscribed for
- Once received, Strickland will use the funds to continue exploration at its Western Australia projects as well as undertake potential acquisitions
- Strickland has ended the day a healthy 17.4 per cent in the green with shares trading at 2.7 cents
Strickland Metals (STK) has made multiple new management appointments as it begins to refocus and revitalise the company.
Firstly, Andrew Bray has been appointed as CEO, effective immediately.
Andrew has more than 10 years’ experience in forming, financing and developing natural resource companies, having worked with the likes of Gateway Mining (GML), Silver Mines (SVL) and Futura Resources.
“Having worked with Andrew on creating Silver Mines and building it into an All Ords Index company, I’m delighted he has agreed to be a key part of the Strickland management team going forward,” Non Executive Chairman Anthony McClure said.
“Andrew is a highly capable and talented mining executive, and the board is very much looking forward to working with him to drive growth in the company,” he added.
Strickland has appointed experienced geologist Trent Franklin as Non-Executive Director.
Trent is currently the Managing Director of Enrizen Financial Group and Non-Executive Director of Gateway Mining and Futura Resources.
Finally, Peter Langworthy has been appointed as Technical Advisor.
Peter is an experienced geologist and mining executive, having spent more than 32 years in the mineral exploration and project development sectors.
Currently, he is Executive Chairman of Gateway Mining and Non-Executive Director of Silver Mines.
Peter has also previously worked with the likes of PacMin Mining, Jubilee Mines and WMC Resources.
Rights issue
Strickland has also launched a pro-rata entitlement issue to raise roughly $5.05 million.
Shareholders will be able to subscribe for two fully-paid ordinary shares for every three held as of April 16, 2021.
Participants will also receive one free attaching option for every two new shares subscribed for, exercisable at 3.6 cents with expiry three years from issue.
Once received, Strickland will use the funds to continue exploration at its Western Australian projects, as well as undertake potential acquisitions.
“We are making swift and substantial progress with revitalising Strickland. These appointments are a strong step forward in enhancing the management and technical capabilities of the company,” Anthony said.
“Coupled with completion of the entitlement issue, Strickland will be extremely well-positioned to embark on a strategy of unlocking value in the company’s current portfolio of assets,” he concluded.
Strickland has ended the day a healthy 17.4 per cent in the green, with shares trading at 2.7 cents in a $9.68 million market cap.
