White Canyon Appoints Mike Bynum as Chief Executive Officer
17 Novembre 2010 - 5:25PM
Marketwired
White Canyon Uranium Limited (TSX VENTURE: WU)(ASX: WCU) ("White
Canyon" or "the Company) is pleased to announce the appointment of
Mike Bynum as Chief Executive Officer. Mr. Bynum will be
responsible for developing the growth strategy for the Company,
including continued exploration and acquisitions of mineral
reserves, development of the top management team, and oversight of
all the Company's operations. Mr. Bynum will continue to serve as
President, White Canyon Uranium, North America (WCU, N.A.), and as
an Executive Director on the WCU Board of Directors.
As part of the Board's strategy to build a management team more
closely focused on the Company's primary operations in North
America, Mr. Bynum will continue to be based in Moab, Utah, which
is in the center of the Company's advanced, discovered uranium
projects as well as the Company's Daneros mine, which in 2009, was
the Company's first mine to be put into production.
Mr. Bynum is credited with arranging capital financing necessary
to bring production of the Daneros output to the milling stage as
well as negotiating the sales agency agreement with Denison Mines
which will yield revenues from the Company's first output of
yellowcake product in December, 2010. Mr. Bynum served as Managing
Director of the Boulder, Colorado based law firm, Chrisman, Bynum
and Johnson for over 25 years. He is the founder of Business
Resolutions, LLC which since 2002 has provided services to
corporate clients regarding complex business solutions,
capitalization of market opportunities and formation and
implementation of strategic and tactical business plans. "I am
excited about the opportunity to assist WCU to achieve its
potential to provide product for the growing worldwide uranium
demand. With its extensive holdings in the uranium rich Colorado
plateau, I believe WCU is in an excellent position to establish
itself as a long-term producer."
In accordance with the listing rules of the ASX the Company also
makes the following disclosures in relation to Mike Bynum's
remuneration package:-
Total Salary Package: US$180,000 per annum (no change from existing
arrangements in place prior to CEO appointment)
Director Options: 5,000,000 Options for no consideration, each Option
having an exercise price of $0.15 and an expiry
date of 4 years after the issue date to Michael
Bynum or his nominee, on standard terms and
conditions and subject to share-holder approval at
the upcoming annual general meeting.
About White Canyon
White Canyon Uranium Limited (TSX VENTURE: WU)(ASX: WCU) listed
in March 2008 and has fast tracked to become an advanced uranium
production company holding 100% interest in the Daneros Mine and
the advanced Lark Royal, Thompson, Geitus, Blue Jay and Marcy Look
projects, located in SE Utah, USA; which comprise approximately
15,500acres of mining claims and mineral leases. White Canyon
entered the ranks of uranium producers in December 2009 with toll
milling commencing November 2010 and 'yellow-cake' sales expected
in December 2010.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: White Canyon Uranium Limited John Ramsey Vice
President - Marketing +1 435 260 0267
jramsey@whitecanyonuranium.com www.whitecanyonuranium.com
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