Pathfinder Minerals Plc – PFP – Directorate Change

Pathfinder Minerals Plc – PFP – Directorate Change

Pathfinder is pleased to announce the appointment of Mr Jonathan Summers as an independent Non-Executive Director with immediate effect.

Mr Summers brings over 25 years of international business experience. He is a former Managing Director at Goldman Sachs, mainly in Europe, having spent 15 years at the firm from 1996 to 2011. He was Founding Partner and Head of Business Development for Everett Capital Advisors, a US$700 million London-based investment fund, and Founding Principal and Head of Business Development for Myriad Asset Management, a US$5 billion Hong Kong-based multi-strategy asset management firm. An active private investor in several fast-growing technology companies, Mr Summers is currently the chairman of EXMceuticals Inc., a Canadian-listed medical cannabis company, as well as on the advisory board for Mocha Holdings LLC, a privacy-focused ecommerce business. Mr Summers holds a master's degree in Modern History (1st class) from the University of Oxford.

At the Board's request and to enable the Company to conserve resources in the near to medium term, Mr Summers has agreed to waive any salary for the first 12 months of his appointment.

The Board has awarded to Mr Summers options over 6,000,000 ordinary shares of the Company at 0.55 pence per ordinary share, exercisable for a period of two years from date of issue. Options over a further 6,000,000 ordinary shares of the Company will be granted to Mr Summers, exercisable at a price of 1.25p, subject to shareholders of the Company granting the directors the necessary authorities. If the resolutions are passed at the forthcoming general meeting of the Company to be held on 29 March 2021, the 1.25p options will be granted as soon as reasonably practicable thereafter.

Further to Jonathan's appointment, the Company announces that Mr John Taylor has stepped down as a Non-Executive Director of the Company with immediate effect. Mr Taylor has confirmed to the Company that he continues to intend to vote in favour of each of the resolutions at the Company's forthcoming general meeting.

Further disclosures in relation to the appointment of Mr Summers as required under AIM Rule 17 and Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are included in the appendix below.

Dennis Edmonds, Chairman of Pathfinder, commented:

"I am delighted to welcome Jonathan Summers to the Board. His significant business experience will be beneficial to Pathfinder as we move into a new chapter of assessing additional opportunities for value creation, while continuing to advance our valuable Bilateral Investment Treaty claim.

I would like to thank John Taylor for his contribution, both as Chief Executive Officer and latterly as a Non-Executive Director."

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