VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 24, 2013) -
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
On 17 September 2013, PMI Gold Corporation (TSX:PMV)(ASX:PVM) ("the Company") announced the appointment of Mr Peter Bradford (formerly a non-executive director of the Company) as President and CEO following the resignation of Collin Ellison.
In accordance with ASX Listing Rule 3.16.4, the Company advises that the employment terms with Mr Bradford have now been finalised. A summary of the key terms are:
- Term: 14 March 2014 (extendable by mutual agreement);
- Salary: CDN$144,000 per annum on a Total Employment Cost basis;
- Accommodation allowance of AUD$1,000 per week for six months;
- The grant of 1 million Performance Rights (subject to shareholder approval); and
- Termination: 1 months' notice by either party.
On behalf of the Board,
Ian Hobson, Corporate Secretary - Australia