Bonterra Resources Inc (CVE:BTR) (OTCMKTS:BONXF) climbed Monday after saying it was moving its corporate headquarters to Val D'Or in Quebec and tapping James Fairbairn as the company’s new chief financial officer.
"Relocating management functions to Val d'Or, in close proximity to Bonterra's main projects in the Urban Barry Camp, makes sense,” said Bonterra Resources chairman and interim CEO Greg Gibson. “In addition to reducing admin costs by combining management with the operations and exploration office already in place, we will improve efficiency, be closer to our stakeholders and take part in the communities where we operate."
Gibson said the company was strengthening the management team with the addition of Fairbairn.
In addition, the company announced the appointment of Akiba Leisman to the board. He co-founded and serves as the CEO of Sailfish Royalty Corp and previously was executive chairman and interim CEO of Marlin Gold Mining Ltd.
Fairbairn has more than three decades of experience in accounting, financial management, corporate finance, mergers and acquisitions. Fairbairn graduated from the University of Western Ontario and is a chartered professional accountant. He has obtained the ICD.D designation from the Institute of Corporate Directors.
He was the CFO of Metanor Resources Inc before it was acquired by Bonterra and is well-acquainted with the operations of the company.
Fairbairn is replacing Joseph Meagher, following his resignation, according to Gibson.
"The board is very grateful for Meagher's contribution and his pivotal role in overseeing the recent corporate transformations,” Gibson said.
Bonterra's focus is on the Urban Barry exploration assets in Canada.
–This story was updated with the board appointment–
Contact Uttara Choudhury at [email protected]