VANCOUVER, BC -- Joel Jeangrand, President & CEO of Great Quest Metals Ltd. ("Great Quest" or the "Company") (TSX-V:GQ) is pleased to announce the appointment of Mr. Jayram (Jay) Hosanee as Chief Financial Officer effective July 16, 2012.
Mr. Hosanee is a General Certified Accountant who brings over 20 years of senior management experience in corporate finance, auditing and internal control. Prior to joining Great Quest, he held the position of CFO at Mineral Hill Industries Inc. and Golden Dawn Minerals Inc. His international experience includes multi-currency group consolidation, overseeing financial reporting and regulatory compliance of several publicly listed companies. He also held the position of CFO at Loita Group, an investment banking firm focused on Africa. This role gave him tremendous exposure to sub-Saharan markets. Mr. Hosanee is fluent in both French and English and holds a CGA qualification as well as an Internal Auditor certification.
Commenting, Joel Jeangrand, President of Great Quest Metals said, "We are very pleased to welcome Mr. Hosanee to Great Quest as CFO. Mr. Hosanee is an asset to the management of Great Quest Metals as we endeavour to develop the Tilemsi Phosphate project. His experience with sub-Saharan markets will greatly benefit the Company."
The Board of Directors has approved the grant of share purchase options to Mr. Hosanee totaling 150,000 options, at an exercise price of $0.90 per share, for a term of five years. The options vest over 2 years, in accordance with the Company's Stock Option Plan, and are subject to TSX Venture approval.
The Management and Board also wish to thank Mr. Victor Jones, who is moving on from his previous role of CFO of the Company, for his contributions to the management team in various capacities. Mr. Jones will continue to participate in the ongoing business of the Company as a Director.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.
President & CEO
Great Quest Metals Ltd. is a Canadian mineral exploration company with assets in Mali, West Africa. The Company is focused on developing the Tilemsi Phosphate Project, encompassing 1,206 km2 in eastern Mali. The Company also holds several gold concessions in the productive Birimian gold belt in western Mali. Great Quest is listed on TSX Venture Exchange (GQ), and the Frankfurt Stock Exchange (GQM).
12g3-2(b) Exemption #82-3116
Standard & Poor's Listed
Trading Symbol: GQ
Frankfurt Exchange: GQM
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