Toronto, ON, Canada - September 17, 2014, Toronto, ON, Canada - Stonegate Agricom Ltd. announced that Mark N. J. Ashcroft has resigned from the positions of president, CEO and director of the company.
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Mr. Ashcroft has been involved in various capacities in the global mining and finance industries since 1990. From 2007 to 2008, Mr. Ashcroft worked at Versant Partners, where he was responsible for successfully developing a mining finance business for that firm in sales, trading and corporate finance.
Prior to joining Versant, he had been employed, from 2003, with Toll Cross Securities, a boutique institutional firm in Toronto where he became Managing Director and Head of Investment Banking. From 1999 to 2003, he worked in mining project finance with Barclays Capital in London and then Standard Bank in New York.
From 1996 to 1998 he worked in Mines Technical Services at Inco Limited's Ontario Division, where he qualified as a Professional Engineer in Ontario. From 1990 to 1996, through his undergraduate studies, Mark worked in various operating roles in North and South America and Australia.
Mr. Ashcroft holds his Bachelor of Engineering (Mining) from Laurentian University and a Master of Science (Finance, Regulation and Risk Management) from the ISMA Centre of the University of Reading.
The Company intends to name a new CEO in the near future. In the interim, Co-Chairmen Ian J.
McDonald and Kerry J. Knoll, who co-founded Stonegate, will jointly carry out CEO
responsibilities.
Mr. McDonald was Chairman of Stonegate Minerals Ltd. from September 2006 until August 2008. Mr. McDonald also co-founded with Mr. Knoll each of Blue Pearl Mining Ltd. (now Thompson Creek Metals Company Inc.), Glencairn Gold Corporation (later Central Sun Mining Inc., and since acquired by B2Gold Corp.) and Wheaton River Minerals Ltd. (since acquired by Goldcorp Inc.).
He served in various capacities with these companies for the past 20 years, including as President, Chief Executive Officer and/or Chairman. Mr. McDonald has more than 25 years experience in the resource sector in progressively more senior roles as financial adviser, company founder, senior executive and board chairman of junior and intermediate mining companies. He is currently a director of RB Energy Inc.
His direct involvement in the mining industry began in 1987 with the founding of Glencairn Gold Corporation. He graduated from Toronto's Ryerson University Business Program in 1977. He joined Richardson Greenshields (now integrated into RBC Dominion Securities) in 1981 and established himself as one of the firm's top investment advisers and a specialist in derivatives.
In 1986, he joined Yorkton Securities Inc. as an investment adviser, specializing in mining issues, and soon became one of the firm's leading investment advisers for medium to high net worth clients.
Mr. Knoll was President of Stonegate Minerals Ltd. from September 2006 until August 2008. Mr. Knoll also co-founded with Mr. McDonald each of Blue Pearl Mining Ltd. (now Thompson Creek Metals Company Inc.), Glencairn Gold Corporation (later Central Sun Mining Inc., and since acquired by B2Gold Corp.) and Wheaton River Minerals Ltd. (since acquired by Goldcorp Inc.). ■