Ormonde Mining plc has completed its 36.2% acquisition in Canadian copper-gold explorer TRU Precious Metals Corp.
BOARD COMPOSITION
The Dublin-based company has the potential to increase its shareholding to up to 46.0% through the exercise of warrants.
Ormonde also has the right to appoint three out of five of the TRU board of directors, subject to approval.
In addition to Brian Timmons who joined the board on 30 June 2023, technical advisor to Ormonde Steve Nicol has also been appointed to the TRU board as a second nominee.
The final Ormonde board nominee is expected to be appointed shortly.