Mr. Cole McClay reports
FORGE RESOURCES ANNOUNCES APPOINTMENT OF CHAIRMAN AND DIRECTOR AND ISSUANCE OF OPTIONS
Peter Jonathan (P.J.) Murphy has been appointed as chairman and director of Forge Resources Corp.
Mr. Murphy is a highly experienced investor with a proven record of success in the junior mining sector, the broader equity markets and real estate. With over 25 years of management experience in the health care and real estate sectors, Mr. Murphy brings exceptional leadership, management skills and a vast investment network to the team. He has led multiple successful transactions in the real estate and private sector, showing expertise in identifying value investments and working to maximize their potential. He has a bachelor of science degree from McGill University and a doctor of dental surgery degree from Dalhousie University. Chairman and director Mr. Murphy states: "As the new director and chairperson, I look forward to working with the executive, technical and advisory teams to advance the two excellent projects in the company's portfolio. With the La Estrella coal project in Colombia on the verge of extracting the revenue generating bulk sample and all six drill holes showing significant porphyry mineralization at the Alotta project, it's an exciting time to be joining the company. I am dedicated to help guide the company toward a future defined by integrity and responsibility to drive economic growth and unlock shareholder value."
Issuance of options
The company also announces the issuance of an aggregate of 2.5 million options to certain directors, officers and consultants of the company. Each option allows the holder to purchase one common share of the company upon the terms and conditions of the applicable agreement. Of the options, 2.3 million were issued to insiders of the company and 200,000 of the options were issued to a consultant of the company. All of the options are exercisable over a five-year term expiring Sept. 4, 2029, at a price per share of 48 cents.
About Forge Resources Corp.
Forge Resources is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 kilometres southeast of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in Yukon of Canada. The company holds a 40-per-cent interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.
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