Global Geoscience Ltd. on April 5 said it appointed James Calaway as nonexecutive chairman, effective immediately.
Calaway served as nonexecutive chairman at Orocobre Ltd. for eight years until July 2016. He currently serves as chairman of Distributed Power Partners Inc. in Chile.
As a condition of accepting the role, two investment companies will undertake a private placement of about 40 million Global Geoscience common shares for a total consideration of US$4 million, as requested by Calaway.
In addition, Global Geoscience agreed to issue a total of 40 million options exercisable at an aggregate 60 cents, over a five-year period.