NexGen Announces Appointment of Chief Financial Officer
May 31, 2013
NexGen Energy Ltd. (TSX.V:NXE) (the "Company" or "NexGen") is pleased to announce it has appointed Andriyko Herchak as Chief Financial Officer of the Company.
Mr. Herchak was most recently the Chief Financial Officer of Hathor Exploration Ltd. ("Hathor"), a TSX listed company which discovered the Roughrider uranium deposits, located directly adjacent to NexGen's Radio Property, in the Athabasca Basin of Saskatchewan in 2008. During his five years as Chief Financial Officer, Hathor raised $100 million and acquired its major joint venture partners to consolidate ownership of its assets. In 2012, Hathor was acquired for $654 million in cash by Rio Tinto. Mr. Herchak left Hathor following the successful change of control. Mr. Herchak is a Chartered Accountant and holds a Bachelor of Commerce degree from the University of British Columbia. Mr. Herchak replaces Bethany Kitto whose contribution to NexGen during its start-up phase has been greatly appreciated. Mrs. Kitto will continue providing accounting support, reporting to Mr. Herchak.
Leigh Curyer, NexGen's CEO commented, "the appointment of Mr. Herchak as Chief Financial Officer to our executive team is another significant appointment. Mr. Herchak is extremely well qualified and experienced for the position at NexGen, with an excellent knowledge of our portfolio and corporate activities given his previous role at Hathor. It is with pleasure, that I welcome Mr. Herchak aboard."
In connection with Mr. Herchak's appointment, the Company granted Mr. Herchak 200,000 options. Further to the Company's previous news release on May 22, 2013 regarding the hiring of Mr. Sykes and Mr. Schwab as senior geologists, the Company also granted 150,000 options to Mr. Sykes and 75,000 options to Mr. Schwab. Each option entitles the holder to purchase one common share at a price of $0.40 per share, has a term of five years, vests in three equal annual installments commencing on the date of grant and is subject to the terms and conditions of the Company's stock option plan.
Also, as per the terms of the Radio Option agreement on the Company's Radio Project, the Company has issued an aggregate of 1,157,589 common shares (the "Issuance") to Michael Lederhouse, Timothy Young and Matthew Mason (collectively, the "Optionors"). As a result of the Issuance, the Optionors' collectively shareholding in the Company is again 13.334% (on a fully diluted basis), after giving effect to the recently completed qualifying transaction among the Company (then Clermont Capital Inc.) and NexGen Energy Ltd. (then a private British Columbia corporation).
The Radio Option Agreement grants NexGen the exclusive right and option to acquire a 70% interest in the Radio Project from the Optionors in exchange for a staged combination of cash and NexGen shares.
The common shares issued to the Optionors are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring September 30, 2013.
NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of exploration professionals with a track record in the discovery of unconformity-style uranium deposits in Canada.
NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including, an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto's Roughrider Deposit and a 100% interest in Rook 1, immediately adjacent to the North East of Patterson Lake South (PLS) and holds one of the most dominant land positions on the Western side of the Athabasca Basin.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, but not always, forward looking information is identifiable by the use of words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. Forward-looking information is prospective and by its nature requires the Company to make certain assumptions and is subject to inherent risks and uncertainties. Such information is not a guarantee of future performance and undue reliance should not be placed on forward-looking information. Although the assumptions made by the Company in providing forward looking information are considered reasonable by management at the time the forward-looking information is given, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information also involves known and unknown risks and uncertainties, which may cause actual results in future periods to differ materially from any projections of future results expressed or implied by such forward-looking information, including changes in exploration programs based upon results of exploration; future prices of metal; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena; environmental risks; community relations; and delays in obtaining governmental approvals or financing. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. NexGen undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.