Mayfair Gold Appoints Ex-Barrick CFO, Secures $250K Placement for Fenn-Gib
Mayfair Gold has appointed Kevin Annett, former CFO North America at Barrick Mining, as CFO effective April 7, 2026, to oversee finance and cost controls for the Fenn-Gib gold project. He will invest approximately $250,000 via private placement for 58,000 shares and receive 250,000 options to support project advancement.
1. Appointment of Kevin Annett as CFO
Effective April 7, 2026, Mayfair Gold has appointed Kevin Annett as Chief Financial Officer. Annett brings over 15 years of mining finance leadership, having served as CFO North America at Barrick Mining and held senior roles at Barrick and Detour Gold.
2. Private Placement Details
Mayfair plans a non-brokered private placement with Annett for gross proceeds of approximately $250,000. The company will issue 58,000 shares at $4.38 per share, with net proceeds directed toward advancing the Fenn-Gib gold project in Ontario.
3. Option Grants and Vesting Terms
Annett has been granted 250,000 stock options at a $4.38 strike price with a five-year expiry. One-third of the options vest on April 7, 2027, and the remaining options vest monthly over the following 24 months of continued employment.
4. Fenn-Gib Project Advancement
The Fenn-Gib pre-feasibility study outlines a C$450 million initial capital requirement, a 2.7-year payback period and C$896 million of free cash flow over six years at US$3,100/oz. Mayfair aims to begin construction in 2028 and reach initial production by 2030.