I find this very interesting - he accepts stock options in lieu of $106,000!
On March 9, 2012, former Director James Stonehouse and the Company entered in to a settlement agreement and general release of claims whereby all debt of approximately $106,000 owed by the Company to Mr. Stonehouse were satisfied in exchange for 250,000 options at an exercise price of $0.05 per share. Mr. Stonehouse was the VP of Operations at the Chloride Copper mine when it was under the ownership of Copper Mesa. He is a Professional Geoscientist # 5518, also served as SIRG's CEO from June 2010 until January 2011. From August 2009 to the present, Mr. Stonehouse has been an independent consultant in the mining industry. From January 2007 through August 2009, he was Vice President of Operations-Quito, Ecuador and Prescott, Arizona for Copper Mesa Mining Corporation. From September 2005 through May 2007, Mr. Stonehouse was Vice President Exploration for Channel Resources Ltd. in Quito, Ecuador. From January 2005 through September 2005, he served as Vice President Operations and Manager Mine Construction for Frontier Mining Ltd. in Almaty and Kurchatov, Kazakhstan. Mr. Stonehouse received a BA with honors in Earth Sciences in 1974 and a MA in Earth Sciences in 1976, both from Dartmouth College.
