Royal Road Minerals Announces Board Changes Cancellation and Issue of Stock Options
Royal Road Minerals Announces Board
Changes
Cancellation and Issue of Stock Options
Toronto, Ontario--(Newsfile Corp. - January 31, 2024) - Royal Road Minerals Limited
(TSXV: RYR)
("
Royal Road
" or the "
Company"
) announces that Ana Gabriela Juárez has resigned as a director of
the Company and that Mr. Ghassane Benchekroun has been appointed as a director of the Company,
effective immediately. The Company also announces the cancellation and issuance of employee
incentive stock options.
The Board of directors extends its gratitude to Ana for her strategic insight, for her enthusiasm and for
ensuring the Company maintains its ESG credentials regardless of complexity and context. Ana's
assistance with the Company's recent transition from a Latin American to a Middle East and North
African focus has been sympathetic and selfless.
The Company welcomes Ghassane Benchekroun to the Board. Ghassane is CFO of the Gas and Power
Division of a leading Moroccan Energy Group and has been actively involved in developing natural gas,
power, and green hydrogen businesses in North Africa and elsewhere. Ghassane previously led M&A
and Strategy within the same group of companies. Ghassane has an impressive track record in
corporate finance and fund-raising, including roles as a financial analyst in investment banking.
Alongside his professional activities, Ghassane maintains strong community links through his
involvement with several NGOs, including a think-tank focused on development issues in Morocco which
he co-founded in 2018. Ghassane graduated from ISCAE Business School in Casablanca (Morocco)
and holds a master's degree in financial engineering from Paris XII University (France).
"We would like to sincerely thank Ana for her important contributions and her gracious assistance in
enabling a smooth transition from a South American to MENA focus, we wish her well in her future
endeavors. We welcome Ghassane to Royal Road's board where his wealth of local and regional
knowledge will surely strengthen our team's ability to deliver shareholder value" said Jon Hill, Chairman
of the board of Royal Road.
In addition, the Company announces that it has cancelled an aggregate of 7.2 million employee incentive
stock options exercisable into ordinary shares at a price of $0.40 and has granted an aggregate of 3
million options to purchase ordinary shares of Royal Road exercisable at a price of $0.15 per common
share for a period of two (2) years to a director and two employees of the Company. The ordinary shares
issuable upon exercise of the options are subject to a four-month hold period from the original date of
grant.
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.
Cautionary statement:
This news release contains certain statements that constitute forward-looking information and forward-
looking statements within the meaning of applicable securities laws (collectively, "forward-looking
statements") describing the Company's future plans and the expectations of its management that a
stated result or condition will occur. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual results, performance or achievements
of the Company, or developments in the Company's business or in the mineral resources industry, to
differ materially from the anticipated results, performance, achievements, or developments expressed
or implied by such forward-looking statements. Forward-looking statements include all disclosure
regarding possible events, conditions or results of operations that is based on assumptions about,
among other things, the Alliance, the intention to form a joint venture, enter into a related agreement
and establish Newco and, more generally, future economic conditions and courses of action, and
assumptions related to government approvals, and anticipated costs and expenditures. The words
"plans", "prospective", "expect", "intend", "intends to" and similar expressions identify forward looking
statements, which may also include, without limitation, any statement relating to future events,
conditions, or circumstances. Forward-looking statements of the Company contained in this news
release, which may prove to be incorrect, include, but are not limited to the Company's exploration
plans.
The Company cautions you not to place undue reliance upon any such forward-looking statements,
which speak only as of the date they are made. There is no guarantee that the anticipated benefits of
the Company's business plans or operations will be achieved. The risks and uncertainties that may
affect forward-looking statements include, among others: economic market conditions, anticipated
costs and expenditures, government approvals, and other risks detailed from time to time in the
Company's filings with Canadian provincial securities regulators or other applicable regulatory
authorities. Forward-looking statements included herein are based on the current plans, estimates,
projections, beliefs and opinions of the Company management and the Company does not undertake
any obligation to update forward-looking statements should assumptions related to these plans,
estimates, projections, beliefs, and opinions change.
For Further Information
Please Contact
Camila Gutierrez,
VP Corporate Development and Communications
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/196324