Key points
- Michael Brown, president of Capital Markets Advisory since 2001, becomes a director and chairman of Afri-Can effective today, replacing Chris von Christierson, who remains a director.
- Brown previously held roles at Macquarie Bank of Australia, Macquarie North America, Gordon Capital Corp. and Deutsche Bank, and holds degrees from the University of Edinburgh and the University of Western Ontario.
- Brown was granted 450,000 stock options exercisable at 10 cents per share until March 24, 2008, subject to regulatory approval, under a plan capped at 1.2 million common shares.
- Hugh Snyder is retiring as a director of Afri-Can after five years of service to the corporation.
Afri-Can Marine Minerals Corp. has appointed Michael Brown, president of Capital Markets Advisory, and a 30-year veteran of mining finance and analysis, as a director and chairman of the board of Afri-Can, effective today. In view of other business commitments, Chris von Christierson is stepping down as chairman, but he will remain a director of Afri-Can.
Before founding Toronto-based Capital Markets Advisory in 2001, Mr. Brown held positions with Macquarie Bank of Australia, as president and chief executive officer of Macquarie North America, and as vice-chairman. Prior to that, Mr. Brown was a managing partner of investment banking with Gordon Capital Corp. in Toronto, and was a mining analyst and managing director of research with Deutsche Bank. Mr. Brown is a chartered financial analyst, a professional engineer, and holds a bachelor of science degree from the University of Edinburgh and a master of business administration from the University of Western Ontario. He is a director of Crystallex International Corp. and Queenston Mining Inc., and has served as a governor of the Toronto Stock Exchange.
Pierre Leveille, president and chief executive officer of Afri-Can, stated: “Mr. Brown’s knowledge, as well as his stature within the mining and financial communities, represent a strong addition to our board of directors. His credentials and experience over a 30-year period are ideal for leading Afri-Can as we develop our core business in Namibia and search for exceptional mineral acquisition opportunities.” Further to his appointment, Mr. Brown was granted 450,000 stock options exercisable at 10 cents per share until March 24, 2008. The maximum number of listed shares reserved for issuance under the option plan of the corporation is limited to 1.2 million common shares. His appointment and options grant are subject to regulatory approval.
At this time, Hugh Snyder is retiring as a director of Afri-Can. The board of directors would like to express its appreciation to Mr. Snyder for his dedicated service to the corporation during the past five years, and wish him well for the future.
