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Red Pine Exploration Inc. is pleased to announce the appointment of Alice Murphy to its board of directors effective April 29, 2024. Ms. Murphy has also been appointed as Chair of the Audit Committee.
Ms. Murphy is an experienced finance, governance, government relations and mining professional. She is currently a director and Chair of the audit committee of Moon River Capital Ltd. which is a Canadian-based resource company focused on the acquisition, exploration and development of mineral projects. Ms. Murphy also serves as Managing Director of BHT Asset Management.
Ms. Murphy served as Chief Financial Officer of PricewaterhouseCoopers’ Financial Advisory Services from 1997 to 2003, as Chief Financial Officer of Harry Winston from 2003 to 2008, and as Chief Financial Officer of Wahta Mohawks Administration from 2014 to 2016. Additionally, Ms. Murphy was Mayor of the Township of Muskoka Lakes from 2010 to 2014.
Ms. Murphy holds a bachelor’s degree from the University of Toronto and became a Fellow of the Institute of Chartered Professional Accountants in 2016.
Paul Martin, Chair of the Board, commented: “We welcome the appointment of Ms. Murphy and the continued support of Alamos Gold in the Wawa Gold Project.”
Pursuant to the terms of the Investor Rights Agreement between Red Pine and Alamos Gold Inc. (“Alamos Gold”) of December 20, 2019, Alamos Gold has the right to nominate one person for election to the Board provided it owns at least 10% of the issued and outstanding common shares of the Company.
In connection with Ms. Murphy’s appointment to the Board, she was granted 125,000 stock options. At the same time, Mr. Michael Michaud was awarded a one-time on-boarding grant of 900,000 stock options in connection with assuming the position of President & Chief Executive Officer as announced on April 22, 2024. An additional grant of 15,000 stock options was made to an employee of Red Pine. The foregoing stock options have a term of 5 years, an exercise price of $0.20 and vest 25% on April 29, 2024 and a further 25% on each anniversary of the date of grant.
