TG World Energy announced that, subject to the receipt of all necessary regulatory approvals, Mr. Dean Callaway has been appointed as Chief Financial Officer of the Company.
Mr. Callaway has over 20 years of finance and development experience in the energy sector. He previously served as the chief financial officer of a junior oil and gas company with operations in South-East Asia and, prior to that role, held finance positions with an oil and gas company involved in the North Sea and Africa. Mr. Callaway has also been employed in a number of senior development and finance / treasury positions in pipeline and power companies with international operations. In addition, his broad experience includes time spent in the investment banking industry.
"We are pleased to welcome Dean to the TG World team," noted Cliff James, TG World's President and CEO. "Dean brings with him a portfolio of skills that will benefit TG World's management and contribute to our forward strategy of growing and expanding the Company."
TG World also announced that its Board of Directors has approved a grant of options to Mr. Callaway, under which he may acquire up to 400,000 common shares of TG World. Each option entitles Mr. Callaway to purchase one common share of the Company, at an exercise price of CAD$0.12 per share (subject to customary anti-dilution adjustments), for a period of 5 years from the date of grant.
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