Melbourne, April 30, 2024 - Besra Gold Inc. (ASX: BEZ) ("Besra" or the "Company") announces that on 30 April 2024, it released to the Australian Securities Exchange the "Composition of the Board, including an Executive Appointment.
In accordance with ASX Listing Rule 3.16.4, Besra Gold Inc. (the Company) is pleased to advise that Mr Chang Loong (Kenny) Lee has been appointed as an Executive Director.
The Board has also recognised that following the completion of its current management review process, it will seek to appoint two additional independent mining-experienced directors (to complement the Canadian independent Director) as the Company continues to move towards pilot plant production and full production mode.
Mr. Chang Loong Lee
As previously announced, Mr Lee was a Non-Executive Director and has agreed to take on an Executive Director role pending the intended future engagement of a Managing Director.
With a background in capital markets, fintech, corporate advisory and blockchain-enabled businesses, Mr Lee has over 11 years of experience in the Australian business and financial landscape, assisting several international businesses to establish their Australian foundations.
As the co-founder and Managing Partner of Neo Legal, a law firm headquartered in Melbourne, specialising in blockchain consultancy, corporate law, commercial law and immigration, Mr Lee's portfolio includes multiple high net worth clients and client family offices situated both locally and overseas.
Previously, Mr Lee co-founded and served as the Chief Executive Officer at STAX, a platform that facilitated Australia's first IPO to take USDT cryptocurrency as investment subscription funds. Notably, STAX allowed retail and wholesale investors to participate in capital raises, uniquely accepting fiat currency and cryptocurrency investments.
Pursuant to Mr Lee's Appointment Letter, he is to be remunerated at the rate of A$300,000 per annum.
Subject to receiving security holder approval at the Company's next General Meeting, Mr Lee will be granted 7,000,000 options to acquire 7,000,000 CDIs, each exercisable at A$0.45 and expiring 31 December 2026 (please also refer to Appendix 3B of today's date).
All other terms and conditions of Mr Lee's Appointment Letter are considered standard for an agreement of this nature.
Dato' Lim Khong Soon
In order to comply with the Canada Business Corporations Act, which relevantly requires that a corporation with three directors must have a least two directors who are not officers or employees of the corporation or its affiliates, Mr Dato' Lim has today agreed to assume the role of Non-Executive Chairman of the Company.
The Board of the Company comprises the following:
- Dato' Lim Khong Soon - Non-Executive Chairman
- Mr Chang Loong (Kenny) Lee - Executive Director
- Mr Jon Morda - Non-Executive Director
Principal Place of Business and Registered Office
The Company confirms that its new principal place of business and registered office is:
Suite 4, Level 35, Melbourne Central Tower
360 Elizabeth Street
Melbourne, Victoria 3000
Telephone: +61 3 8375 9626
This announcement was authorised for release by the Board of Besra Gold Inc.
Michael Higginson
Company Secretary
North America Contact:
James Hamilton, M +1-416-471-4494
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207388
