New Management I am happy with the shake up in management. This does however create even more questions that need to be answered.
- what is the new drill program and it''s timeline?
- does George Roach create a conflict of interest being a temporary CEO of FED?
- what will the PP be priced at?
- what will be the new compensation that G&B will receive?
- can G&B cancel the whole deal since FED is in shambles?
- who is G&B besides the three people listed in the link below?
I'm not familiar with the legalities that can occur in the position that FED is currently in, so any feedback would be appreciated.
March 7, 2012
Ethiopian Potash Announces Management Change
TORONTO, ONTARIO--(Marketwire - March 7, 2012)
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Ethiopian Potash Corp. (the "Company" or "EPC") (TSX VENTURE:FED.V) announces the resignation of David Wahl as President and Chief Executive Officer and Director of the Company effective March 7, 2012. The Company's Board of Directors will be appointing a new Chief Executive Officer and in the interim George Roach will act in that capacity. The Company wishes to thank Mr Wahl for his contribution over the past 18 months.
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The Company also announces that it is in on-going negotiations in respect of a proposed private placement with a strategic investor. It is anticipated that if such negotiations are ultimately successful, such investor will acquire a 19.9% interest in the Company, the board of the Company will be restructured, and the option agreement between the Company and G and B Central African Resources Ltd. (GBCAR) will be restructured such that GBCAR will permit an early exercise of the option, in exchange for compensation to be determined.
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About Ethiopian Potash Corporation.
Ethiopian Potash Corp. (TSX VENTURE:FED.V)(TSX VENTURE:FED.WT) is a Canadian company based in Toronto, Ontario and Addis Ababa, Ethiopia.
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On behalf of the Board of Directors
https://gbafricanresources.com/