Alkane Resources Limited (ASX:ALK) is pleased to advise it’s Managing Director, Nic Earner, has been appointed to the Board of Genesis Minerals Limited (ASX: GMD) as non executive director effective today.
Mr Earner’s nomination is in accordance with Alkane’s rights under the subscription agreement and underwriting agreement with Genesis Minerals (ASX:GMD) dated 2 August 2019 (refer ASX announcement on that date).
Alkane is Genesis’ largest shareholder currently holding 15% of the issued capital. The investment in Genesis remains consistent with Alkane’s strategic objective to grow its gold business, both organically through its Tomingley gold operations in NSW, and through investment in junior Australian gold companies with projects that meet Alkane’s investment criteria.
A copy of Genesis’ ASX release can be found here.