Goldgroup Mining (TSX:GGA, StockForum), a Canadian-based gold producer engaged in the acquisition, exploration and development of advanced-stage gold-bearing mineral properties in the Americas, announced the resignation of non-executive director, Mr. Von Michaelis.
According to the news release, “Mr. von Michaelis is resigning for personal reasons and the Company would like to thank him for all of his contributions. We wish him well on his future endeavours.”
It detailed further, “Goldgroup's Board is now comprised of four directors who reside in Mexico and three Canadian resident directors, which it believes to be a good representative Board given that all of the Company's assets are located in Mexico.”
Goldgroup Mining made headlines recently when the company launched legal proceedings against its JV partner president and CEO, Koy Wilber Diepholz in October.
Shares fell 21.43% on the news to $0.06 per share.
Currently there are 136,436,575 shares outstanding with a market cap of $7.5 million.