Kalimantan Gold Board Changes and Option Grant
![Kalimantan Gold Board Changes and Option Grant](https://www.minenportal.de/media/goldseiten-news.jpg)
Dr. Pollard is currently also a director of Pollard Geological Services Pty Ltd, Hunter Bay Minerals Inc., G4G Resources Ltd and Mind2Market Pty Ltd. He was previously a director of Journey Resources Ltd.
The board change was facilitated following a request by Rahman Connelly to resign from the Board to pursue other interests. The Board of Directors takes this opportunity to thank Mr. Connelly for his unstinting support in all his past roles and particularly in leading the Company as Chief Executive and negotiating the current KSK copper joint venture with a subsidiary of Freeport McMoRan Exploration Company. The Directors wish him well in his next venture. Mr. Connelly will remain as an advisor to the board.
Peter Bojtos will remain on the Board as a non executive director. The Board of Directors takes this opportunity to thank Peter for his time as Chairman and the commitment he brought to the Chairman’s role.
Mr. Connelly commented, “Having spent 12 years as a Director of the Company, including six years as it’s CEO, it’s time to move on as I have fresh business commitments to attend to and, from the Company’s perspective, the appointment of Peter Pollard will bring with it a flow of new ideas and perspectives which, as a holder of a significant number of KLG shares, I welcome. During my time with KLG I have worked with a marvellous team of people, all of whom I have learnt from and take this opportunity to say a big ‘thank you’ to each and every one of them.”
Pursuant to the Company’s shareholder approved Stock Option Plan (the “Plan”), the Directors granted 2,000,000 Incentive Stock Options (“Options”) to Directors and granted 3,950,000 Options to employees and consultants on a total of 5,950,000 shares of the Company’s capital stock, exercisable between July 1, 2013 and July 1, 2018 at a price of $0.10 per share, being the minimum price allowable under TSX Venture Exchange rules. The options granted will be subject to any applicable regulatory hold periods.
The number of Options granted to the Directors subject to these arrangements and their resultant beneficial interests in the capital of the Company are as follows:
Director Number Options Total Options Number of common
granted July 1, 2013 granted pursuant to Plan shares held
Faldi Ismail 500,000 2,300,000 5,106,000
Peter Pollard 300,000 450,000 49,052
Peter Bojtos 400,000 950,000 287,656
Pudji Purbo 300,000 300,000 -
Doris Meyer 500,000 1,150,000 941,134
2,000,000 5,150,000 6,383,842
About Kalimantan Gold
Kalimantan Gold Corporation Limited is a junior exploration company listed on both the TSX Venture Exchange in Canada and on AIM in London. The Company has two exploration projects in Kalimantan: the Jelai epithermal gold project in East Kalimantan and the KSK Contract of Work in Central Kalimantan with potential for multiple porphyry copper and gold prospects. For further information please visit www.kalimantan.com
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.
For further information please contact:
Kalimantan Gold
Faldi Ismail, +61 (0) 423 206 324
Deputy Chairman and CEO
faldi.ismail@kalimantan.com or
Gerald Cheyne, +44 (0) 2077311806 / +44 (0) 7717473168
Director Corporate Development
gerald.cheyne@kalimantan.com or
VSA Capital Limited
Katrina Damouni/ Peter Damouni, +44 20 3005 5005/ +44 20 3005 5007
pdamouni@vsacapital.com or
RFC Ambrian Limited
Stuart Laing, +61 8 9480 2506
KLG's Nominated Adviser
stuart.laing@rfcambrian.com