Algold names Thierry Vergnol as President of Algold Mauritania

Algold Resources Ltd.( TSXV:ALG) has made two significant additions to its management team. It has also granted stock options.
Appointment of Thierry Vergnol – President of Algold Mauritania SARL. and Vice-President Government, Community Relations & Security of Algold Resources Ltd.
Thierry Vergnol joins the Corporation as President of Algold Mauritania SARL., the Corporation’s operating Mauritanian subsidiary and will also be driving additional activities, as Vice-President Government, Community Relations & Security of Algold Resources Ltd.. Mr. Vergnol is a Franco-Mauritanian with over 15 years’ experience in international business, and has an excellent understanding of opportunities and challenges faced by international businesses operating in Africa and Mauritania in particular. After graduating with a business degree in France, Mr. Vergnol settled in Mauritania, with a focus on intercultural business relations. Mr. Vergnol is also the founder and manager of a private foundation for the promotion of Mauritania’s cultural and historical heritage.
Algold Chairman Benoit La Salle commented, “The Board is very pleased to have Thierry join Algold’s management team. Thierry adds tremendous experience in operations and government relations, and we look forward to working with Thierry and the rest of our management team on our ongoing Mauritanian operations.”
Appointment of Alex Ball – Algold Resources Ltd. – Executive Vice-President Finance & Corporate Development
Alex Ball joins Algold as Executive Vice-President Finance & Corporate Development. Mr. Ball’s career includes extensive corporate finance experience, including $5 billion in debt and equity financing and M&A transactions in mining with UBS Canada, CIBC, BMO Nesbitt Burns and OMERS. Mr. Ball has an MBA in Finance at Toronto’s Rotman School of Management and obtained his BA in Economics from McGill University.
Algold CEO Francois Auclair commented, “Alex brings tremendous experience, drive and energy to Algold’s corporate finance strategy, and will be a key contributor in expanding our financing operations to support future expansions of our Mauritanian operations.”
Option Grants
In connection with these appointments and as part of its compensation process, the Corporation has granted a total of 1,500,000 stock options to insiders, expiring after 10 years and exercisable at a price of $0.285. These options were issued under Algold’s stock option plan, and will vest 1/3 on the date of grant, 1/3 on the first anniversary of the date of grant and 1/3 on the second anniversary of the date of grant.
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