Wolfden announces changes to Board and Management
Wolfden announces changes to Board and Management
THUNDER BAY, ON
,
May 31, 2018
/CNW/ -
Wolfden Resources Corporation (WLF.V)
(the "
Company
" or "
Wolfden
") is pleased to
announce proposed changes to its management and board of directors, in connection with its upcoming annual and special meeting of shareholders
(the "
Meeting
") to be held on
Tuesday, June 26, 2018
at
4:30 p.m.
(
Toronto
time) at the offices of Bennett Jones LLP, 3400 One First Canadian
Place, 100 King Street West,
Toronto
, Ontario.
Effective following the Meeting, Mr.
Ronald Little
, a current director of the Company, has been appointed as President and Chief Executive
Officer replacing Mr.
Donald Hoy
, who will continue to lead the Company's exploration, development and acquisitions as Executive Vice-
President of Exploration.
Nominated as new directors of the Company are Mr.
Ian Atkinson
, Mr.
Don Bubar
and Mr.
John Seaman
. Messrs.
Ewan Downie
and
Ronald
Little
will stand for re-election as directors of the Company. Messrs.
David Brown
,
Donald Hoy
,
Dan Mechis
and
Tom Quigley
have elected not
to stand for re-election as directors of the Company. The election of Messrs.
Ian Atkinson
,
Don Bubar
and
John Seaman
as directors of the
Company is subject to the approval of the TSX Venture Exchange.
"The acquisition of the Pickett Mountain Project was a transformational event for the Company and adding mine development expertise at the
board level, will assist us in advancing our projects," stated Ewan Downie, Chairman of the board for Wolfden. "I would personally like to
recognize the efforts of our outgoing members for their years of commitment as they have supported our focus on Maine as a favourable
jurisdiction. Lastly, I am very pleased that
Ron Little
will become Wolfden's President and Chief Executive Officer. His extensive knowledge with
project development, financing, acquisitions and underground operations will be a strong addition to
Don Hoy's
expertise in exploration. I look
forward to working closely with Ron, Don and the new board members with a renewed focus on exploration and development success."
About the New Nominees
Ian Atkinson
-
Mr. Atkinson was previously President and Chief Executive Officer and a director of Centerra Gold Inc. before retiring in 2015.
He has more than 40 years of experience in the mining industry with extensive background in exploration, project development and mergers and
acquisitions. Prior to his ten-year tenure at Centerra Gold Inc., Mr. Atkinson held various senior leadership positions with Hecla Mining Company,
Battle Mountain Gold Inc., Hemlo Gold Mines Inc. and the Noranda Group. Mr. Atkinson has contributed to the discovery of several major
mineral deposits and been involved in a number of large global mining projects in his career. Mr. Atkinson holds a Bachelor of Science degree in
geology from King's College, University of
London
and a Masters degree in geophysics from the Royal School of Mines, University of
London
.
Don Bubar
-
Mr. Bubar is a professional geoscientist with 40 years experience in mineral exploration and development in
Canada
. Mr. Bubar is a
graduate of
McGill University
(B.Sc. 1977) and Queen's University (M.Sc. 1981). From 1984 to 1994, he worked for Aur Resources Inc. as
Exploration Manager and later VP, Exploration where he was involved in gold and base metal exploration on numerous projects in the Abitibi
region of
Quebec
. This was highlighted by Aur's discovery of the Louvicourt Copper-Zinc VMS deposit in
Val d'Or
in 1989. Subsequently, he
initiated a base metal exploration program for Aur in
Maine
and
New Hampshire
. Prior to joining Aur, he was involved in base metal exploration in
the NWT with Kidd Creek Mines Ltd. where he participated in the discovery of the Gondor VMS deposit in 1982. Since 1995, Mr. Bubar has
been President and Chief Executive Officer of Avalon Advanced Materials Inc. (formerly Avalon Rare Metals Inc.), a mineral development
company with a primary focus on technology metals, including lithium, tin, indium and rare earths. He also now serves as Chairman of the Board of
Imperial Mining Group, a mineral development company with assets in northern
Quebec
.
Mr. Bubar served as a Director of the Prospectors and Developers Association of
Canada
(PDAC) for nine years and Chair of its Aboriginal
Affairs Committee from its creation in 2004 until retiring from the PDAC Board in 2013. He also serves on the Advisory Board to the Faculty of
Science of
McGill University
and on the Board of Directors of Mining Matters, a not-for-profit organization founded by PDAC to promote
geoscience education and mineral industry awareness to grade school students in
Canada
.
John Seaman
-
Mr. Seaman is President and Chief Executive Officer of Apex Investigation and Security Inc., a large privately owned security
company. He is a director and Chair of the Audit Committee of Premier Gold Limited since
May 2006
and was Chief Financial Officer of Premier
Gold Mines Limited from
August 2006
to
June 2012
and was the CFO of Wolfden Resource Inc. from 2002 until it was taken over in 2007. Mr.
Seaman was previously director and/or officer of other small-cap public companies and is an ICD.D member of the Institute of Corporate
Directors.
About Wolfden
Wolfden is a Canadian exploration and development company focused on advancing its wholly owned high-grade (Zn, Pb, Cu, Ag) VMS Pickett
Mountain Project in
Maine, USA
. Located close to excellent infrastructure, the company plans to complete sufficient exploration, definition drilling
and various technical studies in order to demonstrate the economic potential for an underground mining scenario on the Project.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain information that may constitute forward-looking information or forward-looking statements under
applicable Canadian and
United States
securities legislation (collectively, "forward-looking information"), including but not limited to
information about future drilling activities at the Pickett Mountain
Project; the timing and completion of an anticipated mineral
resource estimate and technical studies at the
Pickett Mountain
Project; and the scope of and the anticipated effect of new mining
legislation in
Maine
. This forward-looking information entails various risks and uncertainties that are based on current expectations and
actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited
to, the strength of the global economy; the price of base metals and minerals generally; operational, funding and liquidity risks; the
degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make an
underground mineral deposit commercially viable are present; the risks and hazards associated with mineral exploration and mining
operations; and the ability of Wolfden to fund its substantial capital requirements and operations. Risks and uncertainties about the
Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in
Canada
available at
www.sedar.com
. Readers are urged to read these materials. Wolfden assumes no obligation to update any forward-
looking information or to update the reasons why actual results could differ from such information unless required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE
Wolfden Resources Corporation
View original content: http://www.newswire.ca/en/releases/archive/May2018/31/c7773.html
%SEDAR: 00033002E
For further information:
please contact Donald Hoy, President and CEO, at (807) 624-1131, or Ronald Little, Director, at (613) 862-3699.
CO: Wolfden Resources Corporation
CNW 06:59e 31-MAY-18