EDM Strengthens Board with Appointment of Mining Finance Executive David Ball
Board-approved equity awards include 250,000 options for David Ball and 100,000 milestone-linked restricted share units for an employee.
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Rhea-AI Summary
EDM Resources (EDMFF) appointed mining finance executive David Ball to its board as it advances preparations for Scotia Mine development. Ball has approximately 20 years of mining industry experience, including involvement in more than $1.5 billion of financing transactions, and currently serves as Cerrado Gold's Vice President of Corporate Development.
Manish Grigo resigned from the board but remains Vice President of Corporate Development. Justin Barragan was appointed chairman. EDM is advancing permitting and an updated Pre-Feasibility Study, which assesses project development plans and economics, ahead of future financing and development.
The board approved 250,000 stock options for Ball at C$0.70 per share for five years, subject to TSX Venture Exchange acceptance. It also approved 100,000 restricted share units for an employee, vesting upon specified corporate milestones.
Positive
- Minor point. Forward-looking: it has not happened yet and may not happen.Scotia Mine preparations include permitting and an updated Pre-Feasibility Study ahead of planned financing and development.
Negative
- Minor point. Forward-looking: it has not happened yet and may not happen.250,000 stock options for Ball at C$0.70 per share over five years create potential dilution.
- Minor pointBall's option grant remains subject to TSX Venture Exchange acceptance.
- Minor point. Forward-looking: it has not happened yet and may not happen.100,000 restricted share units for an employee create potential dilution, with vesting tied to specified corporate milestones.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Halifax, Nova Scotia--(Newsfile Corp. - October 19, 2026) - EDM Resources Inc. (TSXV: EDM) (FSE: P3Z) (OTCQB: EDMFF) ("EDM" or the "Company") is pleased to announce the appointment of Mr. David Ball to its Board of Directors. Mr. Ball brings approximately 20 years of international mining industry experience, including involvement in more than
Mr. Ball's appointment further strengthens EDM's Board as the Company advances the Scotia Mine through permitting, technical studies and preparations for future project financing and development.
Mr. Ball currently serves as Vice President of Corporate Development for Cerrado Gold, where he has been responsible for financing initiatives, as well as corporate development, investor relations and strategic acquisition activities.
Previously, Mr. Ball served as Chief Financial Officer and Interim Chief Executive Officer of Santiago Metals, a Denham Capital portfolio company in Chile, where he was part of the executive team responsible for advancing the Delirio copper project through construction and into production.
Earlier in his career, Mr. Ball held senior investment banking positions with Macquarie in Toronto and Singapore, advising on major mining-sector financings, acquisitions and divestments across international markets.
Mr. Ball holds a Master of Finance from INSEAD in France and a Bachelor of Commerce (Honours) from Curtin University in Australia.
"We are delighted to welcome David to EDM's Board of Directors at an important stage in the advancement of the Scotia Mine," stated Mark Haywood, President and CEO of EDM Resources.
"David brings an exceptional combination of international mining finance, corporate development and project execution experience, having been involved in more than
In connection with Mr. Ball's appointment, the Company also announces that Mr. Manish Grigo has resigned from the Board of Directors. Mr. Grigo will continue to serve as Vice President of Corporate Development, supporting the Company's strategic development, investor relations and financing initiatives. The Board thanks Mr. Grigo for his contributions as a director and looks forward to his continued involvement in advancing the Scotia Mine.
The Company is also pleased to announce the appointment of Mr. Justin Barragan as Chairman of the Board of Directors. In this role, Mr. Barragan will focus on independent Board oversight, corporate governance and accountability as EDM advances the Scotia Mine through permitting, project development and financing.
Pursuant to the Company's Stock Option Plan and subject to acceptance by the TSX Venture Exchange, the Board of Directors has approved the grant of 250,000 stock options to Mr. Ball. Each option is exercisable to acquire one common share of the Company at an exercise price of C
Pursuant to the Company's Restricted Share Unit Plan, the Board of Directors has approved the grant of an aggregate of 100,000 restricted share units ("RSUs") to an employee of the Company. The RSUs will vest upon achievement of specified corporate milestones, subject to the terms of the Company's RSU Plan and applicable regulatory requirements.
About EDM Resources Inc.
EDM is a Canadian exploration and mining company that holds a
The Company's common shares are traded on the TSX Venture Exchange under the symbol "EDM", the Frankfurt Exchange under the symbol "P3Z", and the OTCQB® Venture Market under the symbol "EDMFF". For more information, please contact:
| Mark Haywood | President & Chief Executive Officer |
| Arnab De | Chief Financial Officer |
| Manish Grigo | Corporate Development |
| Telephone | +1 (902) 482 4481 |
| Facsimile | +1 (902) 422 2388 |
| info@EDMresources.com |
The Company's corporate filings and technical reports can be viewed on the Company's SEDAR+ profile at www.sedarplus.ca.
Further information on EDM is also available on the Company's website and social media channels as follows:
Internet at www.EDMresources.com
Facebook at http://www.facebook.com/EDMresources.inc
X at https://www.x.com/EDMresources
LinkedIn at http://www.linkedin.com/company/EDMresources
YouTube at https://youtube.com/@edmresources?si=Bvyighil3mSoOKnD
CAUTIONARY STATEMENTS
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 news release.
This news release may contain forward-looking statements, including plans, objectives, estimates, and expectations regarding EDM Resources Inc.'s future activities. Such statements are identified by words like "believes," "expects," "plans," "estimates," "may," "could," or similar terms. Forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated. These include, but are not limited to, mineral resource estimates, exploration and development results, project timing, market conditions, commodity prices, financing, and operational risks. For a discussion of risk factors, please refer to EDM's Management Discussion and Analysis for the year ended December 31, 2025. EDM does not guarantee the accuracy of forward-looking statements and readers should not place undue reliance on them.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319623
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Who joined EDM Resources' board, and who became chairman?
David Ball joined EDM Resources' board, and Justin Barragan was appointed chairman. Manish Grigo resigned as a director but continues as Vice President of Corporate Development.
What stock options did EDM Resources approve for David Ball?
EDM Resources approved 250,000 stock options for Ball, each exercisable for one common share at C$0.70 for five years from the grant date. The grant is subject to TSX Venture Exchange acceptance, with vesting governed by the company's Stock Option Plan and applicable exchange policies.