G Mining Ventures Corp (TSX-V:GMIN, OTCQX:GMINF) has announced that Dušan Petković has been promoted to senior vice president, Corporate Strategy at the company.
Petković co-founded G Mining in October 2020 and served as a founding director of the board until March 2021, when he joined the management team as the inaugural vice president, Corporate Development & Investor Relations.
He has been responsible for leading the corporation's capital markets initiatives including capital raising, acquisitions, and investor relations. His strong capital markets acumen and extensive experience has been instrumental in bringing institutional investor awareness to it, the company said.
In a statement, Louis-Pierre Gignac, G Mining's president & chief executive officer, commented: "Dušan is an important member of our team, and this promotion is a recognition of his many contributions enabling the Corporation to achieve several significant milestones in its short history. We look forward to the value that I trust Dušan will continue to create in his new role as Senior Vice President, Corporate Strategy."
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G Mining noted that Petković has played an integral role on its team, leading the identification and acquisition of the Corporation's flagship Tocantinzinho Gold Project (TZ). He was also pivotal in securing the US$481 million financing package to fully fund the development and construction of TZ, creatively structured to include a gold stream, term loan, strategic equity and equipment financing, all at attractive costs of capital.
It added that Petković is a highly accomplished investment professional with extensive experience in the metals and mining sector. Prior to joining the company he was a principal, Private Debt, at Sprott Resource Lending Corp. Over his 10 years at Sprott, Petković was responsible for the origination, structuring, and investment management of bespoke financing transactions for companies in the mining sector. Prior to Sprott, he spent time in mining investment banking, advising on IPOs, equity issuance and M&A. Petković earned a Bachelor of Commerce Degree from Western University and is a CFA charterholder.
New omnibus equity incentive plan
In a separate statement, G Mining Ventures also said it recently obtained conditional approval from the TSX Venture Exchange for the adoption of a new omnibus equity incentive plan to replace its current 2019 stock option plan. The company intends to submit the new plan for approval by its shareholders at its next annual meeting.
As of the current date, the company has 8,822,888 options outstanding under the 2019 Plan and intends for those options to continue to be governed by the terms of the 2019 Plan.
In accordance with the 2019 Plan, the company's board of directors has granted to officers and employees of the corporation, an aggregate of 3,151,199 stock options, each option conferring upon its holder the right to purchase one common share for a following period of five years and for an exercise price of C$0.80 per share. The vesting terms are one-third one year after the date of the grant, one-third two years after the grant, and one-third three years after the grant.
Under the New Omnibus Plan, the company's board of directors has granted to directors of the corporation an aggregate of 900,000 deferred share units (DSUs), each DSU conferring upon its holder the right to receive, without payment of any consideration, one common share or, at the corporation's option, a cash payment equal to the Fair Market Value of such common share (with the additional option of receiving any combination of cash and common shares).
It has also granted to officers of the corporation an aggregate of 752,188 restricted share units (RSUs), each RSU conferring upon its holder the right to receive, without payment of any consideration, one common share or, at the corporation's option, a cash payment equal to the Fair Market Value of such common share (with the additional option of receiving any combination of cash and common shares.
The vesting terms are upon the DSU holder ceasing to act in capacity of director of the corporation, but not earlier than the first anniversary of the date of grant; and for the RSUs one-third on the first anniversary of the date of the grant, one-third on the second anniversary of the date of grant, and one-third on the third anniversary of the date of grant.
G Mining Ventures is a mining company engaged in the acquisition, exploration and development of precious metal projects, to capitalize on the value uplift from successful mine development.
The company is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. It is currently anchored by its flagship TZ Gold Project in mining-friendly and prospective Pará State, Brazil.
Contact the author at jon.hopkins@proactiveinvestors.com