Adroit Resources Inc. Corporate Update and Board/Officer Changes
News Release – February 15th, 2013 ADROIT RESOURCES INC. CORPORATE UPDATE AND BOARD/OFFICER CHANGES Vancouver, Canada, February 15th, 2013. Board Appointment. The Board of Directors is pleased to announce the appointment of Rohit Kakkar to the Company’s board of directors, effective today.
Mr. Rohit Kakkar is the founder and managing director of Eternus Capital Consultancy Private Limited (“Eternus”) of New Delhi, India. He is a veteran in the mining and resource space and, in this capacity, promotes Indo –African investments. Eternus is focused on providing financial advice on mergers and acquisitions and fund raising to corporations in the sectors of metals and mining, oil and gas and the entire spectrum of the energy industry. Mr. Kakkar is in charge of formulating group strategies and exploring new geographies to increase Eternus’ footprint across different market segments and to expand its portfolio of offerings. Under his leadership, Eternus has dramatically scaled up its operations while maintaining a culture of strong innovation. Mr. Kakkar has an MBA from Narsee Monjee Institute of Management Studies, India.
Corporate Advisor Mandate Termination. Concurrent with this appointment, the Corporate Advisor Mandate entered into between the Company and Eternus on August 12, 2012 and reported in the Company’s August 16th, 2012 news release, has been terminated.
Chief Financial Officer (CFO) Change. Mr Bill Jung has resigned as CFO effective February 14th, 2013 to take up a new position after some ten years with the Company. Mr. Kakkar has also accepted the position of CFO, effective immediately.
Graeme Rowland, President and Chairman, stated: ‘I am pleased to welcome Rohit to the board of directors and believe that his addition to the team will enhance our efforts to create shareholder value. His wide range of contacts and experience in the resource industry will provide a new and diverse audience. I would also like to take this opportunity to record our thanks to Bill for his many years of hard work and support. We all wish him well in his new position’.
Incentive Options: 1,200,000 incentive options in the Company have been cancelled due to expiry or holders ineligibility. The Board has granted Incentive Stock Options to directors, officers and employees exercisable to purchase up to an aggregate of 10,500,000 shares for $0.05 per share until May 31st, 2016. The options are nontransferable. Any share issued to “associated consultants” (as that term is defined in B.C. Instrument 45-105) pursuant to the exercise of options held by them will be subject to a four month hold period commencing on the date of grant of the options. Shares issued to other optionees on the exercise of such options will not be subject to a hold period. The grant of options is subject to acceptance by the TSX Venture Exchange.
Adroit Resources Inc. is a mineral exploration company currently exploring for Gold, Silver and the strategic metal Antimony in Central Italy and diamonds, precious and base metals in the Timmins South/Shinning Tree/Temagami/Cobalt and Bancroft areas of Ontario, Canada. The number of issued and outstanding shares of the Company is 159,457,209.
On behalf of the Board of Directors, Graeme Rowland Chairman and President
Adroit Resources Inc. 510 – 1190 Melville Street, Blackwell Investor Relations Vancouver, B.C., V6E 3W1 (Corporate Advisor) (604) 688-3304 (416) 364-3123 [email protected] web site: www.adroitresources.ca
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.