PTX Metals Strengthens Board and Technical Leadership for Next Phase of Growth
Rhea-AI Summary
PTX Metals (OTCQB: PANXF) announced several leadership and governance changes to support the advancement of its W2 Copper-Nickel-PGE Project and South Timmins gold assets. The company appointed veteran financial executive Michael Pesner, CPA, to the Board of Directors and as Chair of the Audit Committee, while long-serving director Jim Trusler stepped down from the Board but will continue on both the W2 and South Timmins Technical Advisory Committees.
PTX also named Kevin Wells, P.Geo., as Director of Operations and expanded its Technical Advisory Committees, adding Jim Atkinson to the W2 Committee and Charles Tarnocai to the South Timmins Committee, alongside existing member Wes Roberts. In conjunction with these changes, PTX granted 2,900,000 stock options to directors, officers and consultants at an exercise price of $0.10 for five years, and an additional 900,000 options to certain consultants at $0.11 for three years, all under its Stock Option Plan and subject to TSX Venture Exchange approval.
Positive
- Michael Pesner appointed to Board and Audit Committee Chair, bringing 40+ years governance and capital markets experience
- Director of Operations role created and filled by Kevin Wells, a 35+ year exploration geologist
- Technical Advisory Committees expanded for both W2 and South Timmins projects, adding experienced industry professionals
- 3.8 million stock options granted aligning management, directors and consultants with shareholder equity value
Negative
- 3,800,000 new stock options at $0.10–$0.11 may create future equity dilution for existing shareholders
- All option grants are subject to TSX Venture Exchange approval, introducing regulatory conditionality before full effectiveness
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Highlights:
- PTX is pleased to announce the appointment of Michael Pesner, CPA, to the Board of Directors and Chair of the Audit Committee.
- The Company has also appointed a Director of Operations and expanded PTX's Technical Advisory Committees.
- The Board and technical leadership changes position PTX to advance the W2 Copper-Nickel-PGE Project and South Timmins gold assets while supporting the Company's next phase of growth.
Toronto, Ontario--(Newsfile Corp. - August 10, 2026) - PTX Metals Inc. (TSXV: PTX) (OTCQB: PANXF) (FSE: 9PX) ("PTX" or the "Company") today announced a series of strategic Board and technical leadership appointments that will strengthen corporate governance, enhance technical expertise and support the Company as it makes progress advancing its flagship W2 Copper-Nickel-PGE Project and South Timmins gold assets.
The Company is pleased to announce the appointment of Michael Pesner, CPA, to the Board of Directors. Mr. Pesner has four decades of experience in corporate governance, financial oversight, mergers and acquisitions, and capital markets. A Chartered Professional Accountant and former partner at KPMG Canada, he has served on the boards and audit committees of numerous publicly traded mining, retail and technology companies, including Richmont Mines, Wallbridge Mining and Superior Gold, while also advising companies on strategic transactions, financings and corporate growth initiatives. Mr. Pesner also has served on institutional and partnership boards including Société des alcools du Québec (SAQ), Fonds régionaux de solidarité FTQ - Montréal, KPMG and Peat Marwick Thorne. He will also serve as Chair of the Audit Committee.
"We're continuing to build the leadership team needed for PTX's next phase of growth," said Greg Ferron, President and CEO. "Michael brings exceptional governance and financial experience that will strengthen our Board as we continue advancing our projects and evaluating future opportunities. At the same time, we've expanded our technical leadership with highly experienced exploration professionals whose expertise directly support our critical minerals and gold portfolios."
In addition to the appointment of Michael Pesner, the Company has announced that Jim Trusler will step down from the Board of Directors. PTX thanks Mr. Trusler for his years of leadership and service and is pleased that he will continue supporting the Company as a member of both its W2 and South Timmins Technical Advisory Committees.
"I want to thank Jim for his years of leadership and service on our Board," said Ferron. "We're fortunate that he'll continue to play an important role at PTX by contributing his deep technical knowledge and geological expertise through our Technical Advisory Committees."
Technical Leadership
PTX has appointed Kevin Wells, P.Geo., as Director of Operations, Mr. Wells is an experienced exploration geologist with more than 35 years of experience leading nickel-copper-PGE and gold exploration programs for major mining companies, including Anglo American, Anglo Platinum and Falconbridge. His experience includes exploration programs throughout Canada and internationally, including work in the Ring of Fire, Thompson Nickel Belt, Raglan Belt and China, bringing significant operational and technical expertise to PTX's exploration activities.
To further strengthen technical oversight across its project portfolio, PTX has also expanded its Technical Advisory Committees.
The Company is pleased to announce that the W2 Technical Advisory Committee will now include Jim Atkinson and Jim Trusler, along with current member Wes Roberts, who will remain on the Committee. Mr. Atkinson's exploration and mining experience includes senior technical and management roles with Newmont, BHP and Agnico Eagle, Noront, as well as significant expertise in mafic-ultramafic systems and project evaluation.
The South Timmins Technical Advisory Committee will now include Jim Trusler, Charles Tarnocai and Wes Roberts, providing technical guidance as PTX continues advancing its Shining Tree and Heenan-Mallard gold projects.
These appointments reflect PTX's continued focus on strengthening its corporate governance, technical capabilities and exploration leadership as the Company advances its portfolio of high-quality critical minerals and gold assets in Northern Ontario.
Stock Option Grant
The Company also announces that it has granted 2,900,000 incentive stock options to certain directors, officers, and consultants of the Company pursuant to its Stock Option Plan. The options are exercisable at a price of
About PTX
PTX is a proudly Canadian mineral exploration company advancing gold and critical minerals projects in Northern Ontario, including its flagship W2 copper-nickel-PGE project near the gateway to the Ring of Fire and the Shining Tree Gold Project in the Timmins Gold Camp. PTX offers shareholders exposure to copper, gold, nickel and platinum group element (PGE) discoveries in one of the world's premier mining jurisdictions.
PTX's objective is to advance its portfolio through disciplined exploration, technical excellence and responsible engagement with local communities while creating long-term value for shareholders.
For further information, please contact:
Greg Ferron, President and Chief Executive Officer
1 (416) 270-5042
gferron@ptxmetals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308861