London-listed GreatlandGold Plc said April 6 that it has appointed two new nonexecutive directorsto its board.
Paul Johnson, CEO of MetalTiger Plc, and nonexecutive director of Metal Tiger Alex Borelli willbe appointed to the Greatland board, while nonexecutive director John Watkins willstep down with immediate effect.
Andrew Bell will remain Greatland Chairman, while Callum Baxterwill become an executive director.
Metal Tiger will also acquire 150 million ordinary shares inthe company for £150,000 at 10 pence each, while Starvest Plc will invest £50,000 to acquire 50 million ordinaryshares. Watkins and Baxter sit on the Starvest board as directors.
Metal Tiger will receive 150 million warrants, while Starvestwill receive 50 million warrants. Each warrant allows the holder to acquire 1 sharefor 20 pence within a three-year window.
The company will apply to have the 200 million new ordinary shareslisted on the AIM by April 15. Following the transaction, Metal Tiger will own 150million shares or 12.6% of the company's share capital, while Starvest will hold85,333,333 shares or 7.2% of the share capital.
Paul Johnson and his spouse will hold 54,406,636 ordinary shares,or 4.56% of the share capital.