Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) is saying goodbye to its co-founder and exploration vice president John Barry, the explorer announced Thursday.
Barry, who served as the Vancouver-based company’s chair before its IPO in December 2017, is also resigning as director of Group Eleven’s various Irish subsidiaries, according to the company.
The executive told shareholders that it was time for him to pursue other ventures outside of the mining industry.
"After 32 years exploring globally for metals on five continents it is now time for me to pursue other ideas outside of mining and mineral exploration but also keep some involvement in the sector through independent consulting,” he said in a statement.
“I will remain a major shareholder of Group Eleven as I am a passionate supporter of its big-scale, big-think exploration and opening up the exploration space. I wish the company great success and luck in the company's exploration efforts for the next giant zinc deposit.”
Barry was part of the company since its inception and helped the zinc-focused firm to acquire a large, highly prospective land package in Ireland.
"With his co-founders, John saw a rare opportunity back in 2015 to secure a large strategic exploration ground holding in a world-class zinc-lead district,” Group Eleven’s chairman Dan MacInnis said in a statement.
“On behalf of Group Eleven Resources and its Board of Directors, I would like to thank John for his valued contributions and commitment to the Company since its inception. We wish him every success."
The company also said that it had granted 60,000 stock options to an employee of Group Eleven at an exercise price of C$0.08, with a three-year expiry date. One-third of the shares will vest immediately, with an additional third to vest on the first and second anniversaries of the grant date.
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