| ||Mon Dec 12, 2016|
Diamond Fields' Announces Change to Board of Directors and Grant of Stock Options under Fixed Stock Option Plan
| ||(Vancouver, B.C. - December 12, 2016) - Diamond Fields International Ltd. (TSX-V: DFI) is pleased to announce that all matters set before shareholders at its Annual General Meeting ("AGM") held today were approved, including the election of two new Board members: Francois Colette and Bertrand Boulle. |
Mr. Bertrand Boulle was born in Mauritius, educated in South Africa & UK and worked for De Beers and independent diamond producers in Democratic Republic Congo (Kinshasa, Tshikapa and Luebo), Angola (Luanda, Lucapa, Andrada, Cuango), Sierra Leone (Kono and Freetown) and Guinea Conakry (Gbenko). Mr Boulle has over 20 years' experience as a senior executive in global financial markets within the EU and Mauritius.
Mr. Colette has more than 25 years experience in mining in Africa having worked for Gécamines and AMFI-Adastra. While at AMFI-Adastra he was in charge of their copper, cobalt and zinc projects, including Kolwezi Tailings. Between 1990 and 1996, Mr Colette worked as a consultant mainly to Sofremines (France) in relation to a number of copper, cobalt, zinc and gold projects in Romania, Russia, Kazakhstan, Zaire, and Cuba.
The Company wishes to thank Mr. Ransome, who did not stand for re-election at the AGM, for his years of services to DFI since 2007 in various positions ranging from Chief Operating Officer (from October 2007 to October 2014) to President and CEO (from July 2010 to October 2014) and his directorship since 2010.
For clarification, the Company's officers and directors are now comprised as follows:
|Sybrand van der Spuy:|| ||Chief Executive Officer, President and Director|
|Earl Young:|| ||Chief Financial Officer, Secretary and Director|
|Al Gourley:|| ||Non-executive Chairman and Director|
|Norman Roderic Baker:|| ||Director|
|Francoise Colette:|| ||Director|
|Bertrand Boulle:|| ||Director|
The Company also announces that following the 5:1 consolidation that was effected on September 22, 2016, it increased its Fixed Less than 10% Stock Option Plan from 1,528,380 pre-consolidated shares to 4,700,000 post-consolidated shares (the "Amended Plan"), which remains less than 10% of the Company's current 47,344,996 issued and outstanding share capital. The Amended Plan is subject to receipt of acceptance from the TSX Venture Exchange.
The Company also announces the grant of stock options entitling eligible participants to purchase up to 2,962,800 common shares at an exercise price of $0.145 per share for a five year term, expiring at close of business on December 11, 2021. These options will vest as to 1/3 on the date of grant, 1/3 on the first anniversary from the date of grant, and the final 1/3 on the 2nd anniversary from the date of grant.
Following this stock option grant a balance of 1,107,200 options remain available for future grants under the Company's Fixed (less than 10%) Stock Option Plan.
DIAMOND FIELDS INTERNATIONAL LTD.
SIGNED: "Sybrand van der Spuy"
Sybrand van der Spuy, CEO/President
Contact: Earl Young (214) 566-3709
Neither the 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.
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