We may earn commissions if you use the recommended services on this site.  

ExGen Director Dennis Thomas Resigns, announces ExGen

Latest Business News

ExGen Director Dennis Thomas Resigns

ExGen Resources Inc. has announced that Mr. Dennis Thomas has resigned as a director of the company, effective October 6th, 2023. Mr. Thomas has been a director since September 2013 when ExGen obtained its interest in the Empire Mine Project in Custer County, Idaho. Currently, Mr. Thomas serves as a member of the advisory board of Phoenix Copper Limited, ExGen's partner in the development of the Empire Mine Project. ExGen owns 20% and Phoenix owns 80% of Konnex Resources, Inc., which holds the leases and claims to the Empire Mine Project. ExGen also holds 1,330,000 common shares of Phoenix. Jason Riley, the President and CEO of ExGen, expressed gratitude for Mr. Thomas' dedication and efforts as a director. The company looks forward to continuing to work with Mr. Thomas and the entire team on the Empire Mine Project. ExGen Resources Inc. is a project accelerator that funds exploration and development through joint ventures and partnership agreements. This approach helps reduce technical and financial risks while maintaining exposure to new discoveries and potential cash flow. With projects in Canada and the US, ExGen aims to build a diverse portfolio across various commodity groups. Please note that neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Implications of Director Resignation on New Businesses

The recent resignation of Dennis Thomas as a director of ExGen Resources Inc. offers a valuable lesson for new businesses about the impact of leadership changes. Leadership transitions can have significant implications for a company's strategic direction, stakeholder relationships, and overall performance. In this case, Mr. Thomas has been a key figure in ExGen since 2013, particularly in relation to the Empire Mine Project. His resignation could potentially lead to shifts in the company's strategy and operations. However, his continued involvement as a member of the advisory board of Phoenix Copper Limited, ExGen's partner, suggests a commitment to ensuring continuity and stability. For new businesses, this highlights the importance of succession planning and maintaining strong relationships with former leaders. It also underscores the value of strategic partnerships, as seen in ExGen's collaboration with Phoenix Copper Limited. Moreover, ExGen's business model as a project accelerator, which reduces risks through joint ventures and partnerships, provides a compelling strategy that new businesses might consider. This approach allows companies to mitigate financial and technical risks while maintaining opportunities for new discoveries and potential cash flow. In conclusion, leadership transitions, strategic partnerships, and innovative business models are critical considerations for new businesses navigating their growth journey.
Story First Published at: https://financialpost.com/globe-newswire/exgen-announces-dennis-thomas-resigns-as-a-director
Brought to you by BusinessFormation.io
Know Your State's Registered Agent Requirements: What is a Registered Agent
Learn How To Create An LLC: What Is An LLC and How To Start an LLC Online
Business Formation Services: View Top 3 Online LLC Filing Companies

LLC Filing & Registered Agent Services

Compare Online LLC Filing Services Today

We work with the market leaders in business formation and registered agent services.

Getting started is simple and inexpensive. Form your business today & secure your brand name before someone beats you to it! Click below to view the Top 3 Best LLC and registered agent service providers.
View Top 3 Providers Now

Filing An LLC Can Be Complicated

Streamline Your LLC Filing Online for $39

Northwest Registered Agent is the best-rated service for first time filers.

Get professional LLC formation & registered agent services for only $39 + state filing fee. This offers includes your full LLC setup, plus a private business address, lifetime support, and more.

Trusted by Millions. Save 82% Today.