Board Changes

RNS Number : 4971B

Georgian Mining Corporation

31 January 2020

 

Georgian Mining Corporation / AIM: GEO / Sector: Natural Resources

31 January 2020

Georgian Mining Corporation ('GEO' or the 'Company')

Board Changes

Georgian Mining Corporation, the gold-copper exploration and development company, announces the appointment of David Ajemian, a prominent natural resources and growth company investor and entrepreneur, as a Non-Executive Director with immediate effect.  Laurence ('Laurie') Mutch, who has held the position of Non-Executive Director since March 2017, will be stepping down from the Board with immediate effect in order to concentrate on his other business interests.

David Ajemian is a successful mining, energy, technology and media investor and entrepreneur with access to high quality assets and investment opportunities with the potential for significant growth.  In recent years, David has been a director of Aznav Ltd and E-Metals Plc, with a mandate to seek investment in opportunities across multiple sectors and jurisdictions, with a particular focus on undervalued mining assets with past production histories.  Before moving into the growth company and investment arena, David was a successful professional sportsperson and sports manager.  David's multi-sector experience, partnered with his fluency in Arabic and Armenian, has allowed him to develop a broad network of business and investor contacts in the Middle East and internationally.

Neil O'Brien, Chairman, said: "I would firstly like to thank Laurie for his considerable and invaluable contributions during his time with GEO.  The past three years has been marked by numerous operational achievements as well as lengthy administrative frustrations, and Laurie has been a hugely supportive force behind the Company throughout this entire period.  On behalf of the Board, I would like to wish him well in his future endeavours.

"Turning now to the future, I am delighted to announce David's arrival to the GEO team.  Through his position on the Board, I am confident that GEO will benefit from David's extensive network of natural resources orientated investors and professionals as we look to unlock the value of our Bolnisi Copper and Gold Project and expand our portfolio with additional high quality assets."

Further information in relation to David Garabet Ajemian is provided below.

The information required by Schedule 2 Paragraph (g) of the AIM Rules for Companies in relation to the appointment of David Garabet Ajemian (aged 41) as Non-Executive Director is as follows:

Current Directorships	Past Directorships
Alyce Investments Limited Aznav Ltd Emetals Plc United Lions Limited	Aznav Mining Ltd Aznav Metals Ltd Stallion Greenland Limited

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information please visit www.georgianmining.com  or contact:

Mike Struthers	Georgian Mining Corporation	Company	Tel: [phone]
Ewan Leggat	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Soltan Tagiev	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Damon Heath	Shard Capital Partners LLP	Joint Broker	Tel: [phone]
Susie Geliher	St Brides Partners Ltd	PR	Tel: [phone]
Hannah Platt	St Brides Partners Ltd	PR	Tel: [phone]

About Georgian Mining Corporation

Georgian Mining Corporation has 50% ownership of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines.  The Bolnisi concession covers an area of over 860 sq km and has a 30-year mining licence with a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which is due to advance to Feasibility Study. 

The Company continues to assess the potential for expanding the Company's portfolio through the addition of new assets, which have the ability to add value in the short term.

 

END

 

 

BOASDFFWSESSEIF