Catalyst Copper Corp.
, Stock Forum
) said Friday it has appointed a trio of well known names to its board of directors as part of a management shuffle.
They include Vancouver-based resource financier Frank Giustra, Goldcorp Inc. (TSX: T.G, Stock Forum)
Chairman Ian Telfer, and Ventana Gold Corp founder Richard Warke.
In addition to a seat on the Catalyst board, Warke has been named President and CEO of the company, replacing David Laing, who is along with director Matthew Lawson.
The three new directors are stepping up to participate in a non-brokered private placement of up to 2.1 million units priced at 30 cents each, raising a total of $630,000, the company said in a press release.
Catalyst Copper is a copper and base metal company with a focus on copper mining projects in Mexico. The company is currently focused on the La Verde copper property, which is situated in the Sierra Madre del Sur, apprimately 320 kilometres west of Mexico City in Michoacan State.
The company said the project benefits from excellent infrastructure, including roads, water and power. Lazaro Cardenas, Mexico’s third largest port on the Pacific Ocean, is 180 kilometres from the site.
Catalyst Copper shares jumped 28.6% to 45 cents Friday, leaving a market cap of $13.2 million, based on 29.3 million shares outstanding. The 52-week range is 60 cents and 5.5 cents.