Fox Tungsten Ltd (TSX-V:FOXT, OTC:HPYCF, FRA:1HC) said on Monday it has appointed two new directors to its board.
Mark Wellings joins the board as the nominee of Waratah Capital Advisors, an investment fund with the contractual right to name a replacement following the March 24 resignation of Grant McAdam.
Wellings, a professional engineer with more than 30 years of experience in mining and mining finance, previously served as vice chair and executive vice president, technical at Lithium Royalty Corp prior to that company's acquisition by Altius Minerals Corporation.
The company also named Greg Huffman to the board. Huffman brings more than two decades of capital markets experience in the mining sector, having worked across institutional equity sales, fund management and equity research. He currently serves as senior vice president, capital markets at Magna Mining Inc.
Both appointments are effective April 13.
In a separate move, Fox Tungsten said it has granted stock options on up to 1 million common shares to certain directors, officers and consultants. The options carry an exercise price of C$0.20 per share and expire in April 2031.