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Fremont Gold Ltd (OTCMKTS:FRERF) Stock Falls 17%: Here is Why

Ian Leigh , , , ,

The appointment of a new member to the board of directors of a company is often regarded as significant news and Fremont Gold Ltd (OTCMKTS:FRERF) made such an announcement last Friday. The company announced that it had appointed Jason Libenson to its board of directors. The appointment went into effect immediately.

Trading Data

On Friday, FRERF stock moved down 16.67% to $0.0600 with more than 26K shares, compared to volume of 1.62K shares. The stock moved within a range of $0.0599 – 0.0600 after opening trade at $0.0599.

Fremont Gold Announces the Appointment of Jason Libenson to Board of Directors

Libenson is based out of Toronto and currently, he is the President and Chief Compliance Officer of Castlewood Capital Corporation. Castlewood is an independent investment bank which belongs to the small to mid-sized capitalization market in Canada. Libenson has also served in the capacity of an independent director for a number of companies in Canada and also holds a license from the Canadian Securities Institute.

He holds a Bachelor of Commerce degree with specialty in international business from the John Molson School of Business at Concordia University.Libenson is going to be the replacement for Alan Carter, who had decided to resign from his position on the Freemont Gold board in order to pursue other opportunities.

That being said, Carter is going to continue to be involved with the company in his capacity a member of the Advisory Board. The company thanked Carter for his services in the press release.

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.