2023-08-02 08:17:48 ET
- Mexus Gold US ( OTCPK:MXSG ) said Mark Ashley agreed to assume the role of CEO taking over from Paul Thompson who will relinquish the position to focus on personal priorities.
- Paul Thompson has held this position since for over 14-years, and has agreed to remain on the board as non-executive chairman.
- Ashley's appointment is subject to current debt holders formally committing to convert their debts into Common shares, among other conditions.
- The company further proposed a capital restructure, entailing a reorganization of the capital structure and share placement to raise a minimum of $2.5 million.
- Mexus further plans to seek shareholders approval to undertake a 1 for 100 reverse share split and an increase in the authorized share capital to facilitate its growth plans.
- "Upon my formal appointment...we will also be considering the Toronto Venture Exchange and/or the Australian Stock Exchange (either as a dual or primary listing opportunity) as a more appropriate trading platform for Mexus moving forward", said Mark Ashley.
- Source: Press Release
For further details see:
Mexus Gold replaces CEO, proposes capital restructure