Andina Minerals Appoints Chief Financial Officer
Tuesday, November 2nd, 2010
Andina Minerals Inc. is pleased to announce the appointment of Mr. Derrick Weyrauch as Chief Financial Officer of the Company, effective immediately.
Mr. Weyrauch has 20 years of senior financial leadership experience in mining and the contract, automotive and medical device manufacturing industries. Mr. Weyrauch brings extensive senior management experience including financing, corporate turnaround and restructuring, strategic planning and M&A transactions. He is currently the Chief Financial Officer of Malbex Resources Inc., a publicly traded gold mining company, and will continue in that capacity until January 31, 2011 to assist Malbex in their transition.
Previously, Mr. Weyrauch was the Treasurer and Director of Finance for Gabriel Resources Ltd., also a publically traded gold mining company. Mr. Weyrauch is a Chartered Accountant having earned his CA designation with KPMG LLP in 1990. He is also a member of the Institute of Chartered Accountants of Ontario and holds a Bachelor of Arts degree in Economics.
George Bee, President and CEO commented, “Mr.Weyrauch’s mine development background combined with his broad and varied senior financial leadership and management experience will be very valuable to Andina as it completes a prefeasibility study for the Volcan Gold project in early 2011 and beyond through Volcan’s continued development.”
Mr. Weyrauch was granted 365,000 stock options in the capital of the Company. The options are priced at $1.40 and expire on November 1, 2015.
The Company also announces that on November 1, 2010, it granted 70,000 stock options in the capital of the Company to consultants who perform Investor Relations functions for the Company. The options are priced at $1.40 and expire on November 1, 2015.