VANCOUVER, BC / ACCESSWIRE / September 20, 2021 / Viva Gold Corp. (TSXV:VAU)(OTCQB:VAUCF)(FSE:7PB) (the "Company" or "Viva") is pleased to announce that it has updated its Consulting Services Agreement ("Agreement") with Mr. James Hesketh, through his consulting company Kalex LLC., replacing his existing agreement dated April 2017. Under the Agreement, Mr. Hesketh provides the services and performs all required duties as President and Chief Executive Officer to Viva Gold Corp. He develops, recommends to the board of directors and implements general corporate, administrative, technical, engineering and other management systems as is considered necessary or advisable for proper management of the Company. Mr. Hesketh is also a Director of the Company, elected by shareholders. The Agreement contains terms and conditions that are typical to other agreements of this type in the junior mining industry. Terms of the Agreement were approved by the Company's Compensation Committee made up of independent directors and outlines a yearly compensation of USD $120,000 which includes a 20% reduction in monthly payments in relation to the prior 2017 Agreement. Mr. Hesketh is entitled to equity-based compensation subject to the terms of the Company's Stock Option Plan and TSXV policies and an annual bonus not exceeding U.S. $120,000.
The Agreement may be cancelled at any time on 30 days' notice with a severance payment, and it incorporates, in certain circumstances, up to 24-months of severance pay on change of control of the Company.
About Viva Gold Corp:
Viva Gold is a gold exploration and project development company with a focus on Nevada. Viva holds 100% of the advanced Tonopah Gold Project, a large land position of approximately 10,500 acres with demonstrated high-grade measured, indicated and inferred gold resources, located on the prolific Walker Lane gold trend in Nevada, about 30-minutes' drive south-east of the Round Mountain mine of Kinross Gold and 20-minutes' drive from the Town of Tonopah. Viva's management team has extensive experience in mineral exploration, mine development and production and are supported by a Board of Directors and advisors who are proven mine finders, deal makers and financiers. Viva trades on the TSX-V as "VAU", on the OTCQB in the US as "VAUCF" and on the Frankfurt exchange under "7PB". For additional information on Viva Gold and the Tonopah Gold Project, please visit our website: www.vivagoldcorp.com.
For further information, please contact:
James Hesketh, President & CEO
Valerie Kimball, Director Investor Relations
SOURCE: Viva Gold Corp.