June 27, 2002
Tsodilo Resources Limited, formerly Trans Hex International Ltd., (CDNX: THI) is pleased to announce the appointment of the following additional director, subject to regulatory confirmation, and officers:
Patrick C. McGinley Director
Dr. Andrew E. Moore Vice President, Exploration
Stephen Woodhead Chief Financial Officer
In terms of the Stock Option Plan of the Corporation and subject to regulatory approval, the board of directors has granted 260,000 options to existing and new directors, officers and consultants at $0.15 per common share. The options are valid for five years and vest in equal instalments on June 25, 2002 and December 25, 2002. The total issued and outstanding common shares of the Corporation, after the restructuring approved on April 9, 2002 (after the cancellation of the shares held by Trans Hex Diamonds Limited) and the private placement that closed on June 14, 2002, amount to 4,744,819 common shares. Fully diluted common shares, including 835,300 warrants issued in terms of the private placement that closed on June 14, 2002 and the 260,000 stock options granted on June 25, 2002, total 5,840,119 common shares.
Tsodilo Resources is an international diamond exploration company engaged in the search for economic kimberlites at its Ngamiland project in northwest Botswana. A detailed report providing background information on the property and the work done to date is available on the Corporation's website at www.tsodiloresources.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
James M. Bruchs -- President and Chief Executive Officer: E-Mail firstname.lastname@example.org
Dr. Andrew E. Moore -- Vice President, Exploration: E-Mail email@example.com
Stephen Woodhead -- Chief Financial Officer: E-Mail firstname.lastname@example.org
Telephone +1 416 572 2033
Facsimile + 1 416 572 4164