Mart Resources, Inc. announces the appointment of Michael B.A. Nobbs as a director of the Company. Mr.Nobbs’ appointment is effective immediately.
Mr. Nobbs has over 33 years of experience as both a principal and corporate advisor in the areas of investment banking and corporate and project finance. Mr. Nobbs has participated in various forms of corporate transactions including debt and project finance, corporate mergers and acquisitions and equity fundraising. He is currently a director of a number of privately-held and publicly-listed companies and has considerable experience in corporate governance, finance, executive compensation and remuneration and audit committee matters.
The Board is pleased to add the knowledge and experience of Mr. Nobbs who will join the incumbent board members elected at the shareholders meeting recently completed on June 26, 2008.
Mart also announces the issuance of options to acquire 350,000 common shares of the Corporation to its new director. The options, which vest as to 1/3 immediately, 1/3 on the first anniversary of the date of issuance and 1/3 on the second anniversary of the date of issuance, are exercisable at $0.62 per common share and expire on the fifth anniversary of the date of issuance.
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