Oracle Mining Corp (C:OMN)
Shares Issued 31,434,070
Last Close 11/24/2011 $1.15
Monday November 28 2011 - News Release
Mr. Alex Langer reports
ORACLE MINING ANNOUNCES VICE PRESIDENT CORPORATE DEVELOPMENT
Oracle Mining Corp. has hired Paul O'Brien, CFA, as the corporation's vice-president of corporate development.
Mr. O'Brien has more than seven years of experience in gold equity research covering developing companies to senior producers as well as precious metals forecasting, during which time he was ranked in the top five of Wall Street Journal's "Best on the Street Analyst Survey" for North American Mining Analysts two years in a row. His prior corporate advisory and investment banking experience includes more than nine years primarily focused on mining, while gaining global mining markets experience in Canada and Australia as a member of bank-owned capital markets groups.
Most recently, Mr. O'Brien was a Partner at Gryphon Partners, a mining-focused corporate advisory and M&A firm that was recently acquired by Standard Chartered Bank. Mr. O'Brien received his B. Comm. from McMaster University and is a CFA Charterholder.
The Board of Directors has granted stock options to Mr. O'Brien in conjunction with his employment with the Corporation. Options were granted to purchase 200,000 common shares in the capital of the Corporation, exercisable for a period of five years at a price of $1.15 per share and subject to the terms and conditions of the Corporation's Stock Option Plan and TSX Venture Exchange approval. One-third of the options vest immediately upon the date of grant, one-third of the options will vest 12 months from the date of grant and one-third will vest 24 months from the date of grant.
In addition, two directors of the Corporation have each voluntarily forfeited for cancellation 100,000 options to facilitate the above options grant and comply with the terms of the Corporation's Stock Option Plan with respect to the maximum number of options available for grant thereunder. Following the options cancellation and grant, the Corporation's stock options outstanding remains unchanged, at 3,029,000.