Hi John! I'm lurking, have a very small position in MAE. Do you know why this news release is linked to MAE? Is this one of those shared director thingys?
Mr. Norman Anderson joins Northern Orion's Board of Directors
VANCOUVER, Feb. 21 (CNW) -- Northern Orion Explorations Ltd. is pleased to announce that Mr. Norman Anderson (P.Eng.) has joined its Board of Directors. Mr. Anderson brings to the company a wealth of knowledge and experience gained through a career in the mining industry spanning nearly fifty years. Rising through the ranks, Mr. Anderson began his career with Cominco Limited in 1953, advancing from engineering to management. In 1980, he was elected Chairman and CEO of Cominco and held that position until taking early retirement in 1986. Mr, Anderson has also held positions as Vice President with AMAX Inc., and as Chairman of International Corona Corporation. In addition, Mr. Anderson is currently a director of Homestake Mining Company, Minas Beunaventura S.A.
(Peru), Solv-Ex Corporation and The Toronto-Dominion Bank, and is active in his consulting practice undertaking due diligence and evaluations for financial institutions and mining companies.
``Mr. Anderson is a welcome addition to the Board of Directors and considerably strengthens the Board's depth in terms of technical expertise and commercial aspects of the mining industry,' said Stephen Wilkinson, Northern Orion's President and CEO. ``We are looking forward to working with him and receiving the benefit of his advice while advancing the company's portfolio of advanced copper properties.'
Northern Orion also announces the retirement from the Board of Mr. Christopher Pollard. Chris Pollard has served the company as a director since 1994. The company appreciates and thanks Chris for his generous effort and contribution to the development of the company made over the past six years.
Also, the company granted to its officers and directors stock options to acquire a total of 5.9 million common shares exercisable at a price of $0.30, consistent with the company's stock option plan and being the closing price of the previous day's trades plus 20%. Of the 5.9 million options, 3.2 million are subject to vesting at an average rate of 530,000-share purchase options per calendar quarter during the next six quarters. As of December 31, 1998, there were 8.2 million stock options outstanding. However, during 1999 the changes in management and directors have resulted in the cancellation of 7.1 million share purchase options. Consequently, Northern Orion has reduced its awarded options to 7.0 million. It should be noted that the directors receive no other form of compensation from Northern Orion.
Northern Orion is a junior company focused on the exploration and development of copper projects in Latin America. The company has one of the largest undeveloped resource bases of the junior mining sector, with net attributable resources of 8.5 billion pounds of copper and 5.5 million ounces of gold.
/For further information: Stephen Wilkinson, President & CEO
(604) 980-0573, fax (604) 980-0731, email: info(at)northernorion.com/
(NNO. MAE. MAENF)
CO: Northern Orion Explorations Ltd. ST: British Columbia |
