06:44 AM EDT, 08/27/2024 (MT Newswires) -- Defense Metals ( DFMTF ) late on Monday said Craig Taylor has resigned as CEO and director and Len Clough has resigned as director, both effective immediately.

The company's board of directors has started the search for a new CEO. In the meantime, Executive Chairman Guy de Selliers will lead the company, working closely with the board, President Luisa Moreno and Lead Independent Director Dale Walter.

Alex Heath, senior vice president of corporate development and interim CFO, will also play a key role in supporting the leadership team and guiding the company through the transition.

The company's share price lost 6.9% to $0.14 on Monday.