Matilda Minerals: Board Restructure and Capital
Raising
Matilda Minerals Limited (ASX: MAL) advises that with the
expansion of its Tiwi operations and a number of new corporate opportunities,
the Board has been restructured to allow for additional executive involvement
at Board level.
Due to time constraints imposed from a variety of other
directorships and other business commitments, Mr John Hopkins advised the Board
that unfortunately he was unable to devote the time required at an executive
level. Consequently, Mr Hopkins has today resigned as Non Executive Chairman,
in favour of the appointment of Mr Barry Bolitho to the position of Executive
Chairman.
Mr Bolitho was the founding Managing Director of Matilda and is
well placed to provide the time and experience necessary to enhance the
executive capacity of the Company. The Board extends its sincere thanks to Mr
Hopkins for his significant and important contribution since his appointment as
founding Chairman.
In addition, Mr Andrew Simpson has been appointed as a Non
Executive Director of Matilda with effect from today’s date. Mr Simpson
holds a Graduate Diploma in Business and Administration (majoring in Marketing
and Finance) from Curtin
University. He is a
senior marketing executive with extensive global marketing experience in the
resource and mining industry, including more than 30 years of international
marketing and distribution of minerals and metals. Mr Simpson’s
appointment adds considerable commercial acumen and marketing expertise to the
Board.
The Company will also raise $2,750,000 by
way of a placement to Territory Resources Limited (ASX: TTY) through the issue
of 5,000,000 ordinary shares a $0.55 per share. The funds raised will be used
to further the company’s operational capabilities in the Tiwi Islands
and the ongoing corporate and exploration opportunities.
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