On Friday, Metanor Resources Inc. (TSXV:MTO) announced the appointment of Greg Gibson and Akiba Leisman to its Board of Directors. The change adds
experience to the team, as the company looks to grow production at its Bachelor gold mine and advance its exploration properties, specifically developing
its Barry project in Quebec. Greg Gibson is currently the President and CEO of Sprott Mining and Jerritt Canyon Gold LLC. Akiba Leisman is a consultant
to Wexford Capital LP where he oversees the precious metal public and private equity portfolios and is currently the Executive Chairman of the Board
and Interim Chief Executive Officer of Marlin Gold Mining Ltd (TSXV:MLN). As a result of the recently completed C$11.5 million financing on March 21, 2017, Eric Sprott now owns 12.9% of the outstanding shares of Metanor or 19.5% on a partially diluted basis (assuming
the exercise of all warrants) and Wexford Capital LP now owns 14.1% of the outstanding shares of Metanor or 19.7% on a partially diluted basis. We
expect the board change, strong shareholders and the recent financing to be positive catalysts for the stock and may be the initial driver for a re-rating
relative to peers.
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
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Metanor Resources Inc. - TSXV:MTO - 1,2,3,4
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