- Attention shareholders who already voted in connection with
the AGM previously scheduled on May
17, 2016: You need to vote again for your vote to count at
the rescheduled June 14, 2016
AGM
- In order for shareholders to see long-term value creation at
Wesdome it is imperative to stay the course with the strong
leadership of the enhanced board the Company has nominated
TORONTO, June 8, 2016 /CNW/ - Wesdome Gold Mines Ltd.
(TSX: WDO) ("Wesdome" or the "Company") reminds shareholders to
vote their BLUE proxies by 11:00am
EST on June 10th,
2016. Support for the enhanced board Wesdome has nominated is
critical to delivering long-term value for all shareholders.
As some shareholders may be aware, there has been a last minute
approach by a single shareholder –Resolute Performance Fund led by
Mr. Tom Stanley to postpone the
Annual General Meeting, which Wesdome cooperated with and reset the
date to June 14. Wesdome reminds
shareholders that in order for the Company to deliver on its growth
plans and steer the Company through the most aggressive exploration
and expansion campaign in its history, the expertise and experience
that only Wesdome's director nominees can provide is
imperative.
Now is not the time to risk Wesdome's future with Resolute's
proposed fire sale versus Wesdome's organic growth strategy.
Shareholders are encouraged to exercise their voting rights and
revote in favour of Wesdome's proposed board of directors which, it
should be noted, includes Nadine
Miller, a candidate supported by Mr. Stanley, thereby
ensuring representation on the board for Wesdome's largest
shareholder.
The board is NOT supporting Mr. Raykov because he appears to be
unduly influenced by Mr. Stanley, is not aligned with the long-term
interests of the Company and his extremely disruptive behavior has
negatively impacted the functionality of the board and the senior
management team. The Company included Mr. Raykov on the proxy card
in order to acknowledge its largest shareholder's desire, however
the board strongly believes that his election will not be additive,
will cause continued disruption, and will potentially create
significant value destruction.
Wesdome's slate of nominees not only meet the highest governance
standards but also provides enhanced experience and expertise in
mining operations, mining company management, technical expertise
and capital markets. Since announcing its nominees Wesdome has
received nothing but positive commentary in terms of its ability to
recruit this talent to the Wesdome board and how additive they will
be. Executing Wesdome's plan of low risk, low-cost expansion of
existing operations and ensuring it realizes the full potential of
its development projects will only happen with a highly qualified
and experienced board that can be trusted to work in the best
interests of all shareholders.
Only the recommended board has the plan and experience needed to
create value for all shareholders. The board recommends
shareholders vote FOR the election of the following persons:
- Duncan Middlemiss was the
President and Chief Executive Officer and a director of St. Andrew
Goldfields Ltd. ("SAS") until its acquisition by Kirkland Lake Gold
Inc. in January 2016. Mr. Middlemiss
joined SAS in July 2008 as General
Manager and Vice President Operations, later assuming the role of
Chief Operating Officer. He was appointed as President and Chief
Executive Officer in October 2013. He
earned a B. Sc. in mining engineering at Queen's University in 1989
and worked for Inco Limited (now Vale Canada Limited) as Mine
Design Engineer until 1995. At that time, he joined Barrick Gold
Inc. at their Holt-McDermott Mine, where he held the position of
Chief Mine Engineer. In 2002 he joined Foxpoint Resources (now
Kirkland Lake Gold Inc.) where he was instrumental in overseeing
the rehabilitation, development, and commencement of production at
the Macassa Mine beginning as Engineering & Production Manager,
and later as Mine Manager. Mr. Middlemiss is a native of
Kirkland Lake, Ontario and has
extensive experience in the mining of gold deposits in the Abitibi
Greenstone Belt.
- Nadine Miller is a
trained Geotechnical Engineer with over 15 years of experience in
geotechnical engineering and project management in the mining and
transportation industries, and has worked on mining projects in
Australia, Europe, North and South America. She has undertaken geotechnical
mandates for projects ranging in size from less than $100k to projects greater than $1B. She was most recently a Business Development
Manager with SNC-Lavalin's Mining and Metallurgy business unit from
2012 to 2015. Ms. Miller is a graduate of the Massachusetts Institute of Technology (MIT) with a Master's degree in Civil and
Environmental Engineering (specializing in geotechnical
engineering), and has a Bachelor of Applied Science degree from the
University of Toronto in Mineral and
Geological Engineering. She is a licensed professional Engineer in
the Province of Ontario.
- Charles Page is a
Professional Geologist with over 40 years' experience in the
mineral exploration and mining industry. Most recently, he was
President and Chief Executive Officer of Queenston Mining Inc.
until its acquisition by Osisko Mining Company in 2012. He is
currently a director of Osisko Gold Royalties Ltd. and Unigold Inc.
He is a member of the Association of Professional Geoscientists of
Ontario, the Association of
Professional Engineers and Geoscientists of Saskatchewan, is a Fellow of the Geological
Association of Canada and a member
of the Canadian Institute of Mining, Metallurgy and Petroleum. Mr.
Page holds a Master of Science degree from the University of Waterloo.
- Barry Smith is a
co-founder, Secretary-Treasurer and Director of Rosedale Transport
Limited. He served as a Director of Western Québec Mines Inc. from
1991 and President & CEO from 2001, until Western Québec merged
with Wesdome Gold Mines Ltd. in 2007. He holds a degree in
Mechanical Engineering from the University of
Toronto and an MBA from York
University. Mr. Smith is a retired pilot from Air Canada
where he was Chief Pilot Training and Chief Pilot B-767, and was
involved in negotiations and conflict resolution issues.
- Rowland Uloth serves as
the President and Chief Executive Officer of the Company, and is
President of Rosedale Transport Limited, which he co-founded in
1969. Mr. Uloth was the Chairman of FR Insurance of Bridgetown, Barbados for two years until March
2013. He was also President of the Company from May 2007 to December
2009 and a Director of the Company from 1999 to 2009,
serving as Chairman from 2006 to 2009.
- Bill Washington was the
Head of Global Mining & Metals at National Bank Financial
Markets from July 2011 until his
retirement from the firm at the end of 2015. He joined National
Bank as part of the acquisition of Wellington West Capital Markets
where he had served as the Head of Investment Banking since
August 2004. Prior to joining
Wellington, and always focused
exclusively on the mining sector, Bill worked as an investment
banker at National Bank Financial/First Marathon, Gordon Capital
and Lancaster Financial/TD Securities from 1994. Prior to
entering investment banking he worked as a civil engineer on major
infrastructure projects in the U.K., Spain and Hong
Kong for six years. Bill holds a Bachelor of Applied
Science (Civil Engineering) from the University of British Columbia, is a Chartered
Civil Engineer in the UK and has an MBA from the University of Western Ontario (Ivey).
Shareholders are urged NOT to vote for Mr. Raykov. As noted,
Wesdome does recommend a FOR vote for Resolute Fund's other
nominee, Ms. Nadine Miller.
ATTENTION SHAREHOLDERS:
Shareholders
who have already voted in connection with the previously scheduled
annual meeting that was to be held on May
17, 2016 should be aware those votes will not count.
YOUR SHARES WILL NEED TO BE VOTED AGAIN FOR
YOUR VOTE TO COUNT.
You must vote only your BLUE proxy or VIF by
Friday, June 10, 2016 at 11:00am EST.
SHAREHOLDERS MUST ONLY VOTE FOR SIX OF THE
SEVEN NOMINEES TO THE BOARD.
Please contact Kingsdale Shareholder Services
toll-free by telephone in North
America at 1-855-682-2023, outside North America at 1-416-867-2272 or by email at
contactus@kingsdaleshareholder.com if you have any questions, or
require assistance completing your proxy or voting instruction
form.
ABOUT WESDOME
Wesdome Gold Mines Ltd. is in its 28th
year of continuous gold mining operations in Canada. The
Company is currently producing gold at the Eagle River Complex
located near Wawa, Ontario from
the Eagle River and Mishi gold mines. Wesdome's goal is to expand
current operations at both mines over the next four years through
mill expansion and exploration. Wesdome has significant upside
through ownership of its two other properties, the Kiena Mine
Complex in Val d'Or, Quebec and
the Moss Lake gold deposit located 100 kilometres west of
Thunder Bay, Ontario. These
assets are being explored and evaluated to be developed in the
appropriate gold price environment. The Company has
approximately 129 million shares issued and outstanding and trades
on the Toronto Stock Exchange under the symbol "WDO".
Cautionary Note Regarding Forward-Looking
Statements
This press release contains and refers to forward-looking
information based on current, assumptions, expectations,
intentions, and beliefs of the Company with respect to the future
business activities and operating performance of the Company. The
words "may", "would", "could", "should", "will", "intend", "plan",
"anticipate", "believe", "estimate", "expect" and similar
expressions, as they relate to the Company, are intended to
identify such forward-looking statements. All other statements
other than statements of historical fact included in this release
including, without limitation, statements regarding processing and
development plans, production targets, and future plans and
objectives of Wesdome Gold Mines Ltd. (the "Company") are
forward-looking statements (or forward-looking information) that
involve various risks and uncertainties. These forward-looking
statements are made as of the date hereof and there can be no
assurance that such statements will prove to be accurate, such
statements are subject to significant risks and uncertainties, and
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements that are
included herein. Important factors could cause actual results to
differ materially from the Company's expectations. Such factors
include, among others: the actual results of additional exploration
and development activities at the Company's projects; the timing
and amount of estimated future production and the costs thereof;
capital expenditures; the availability of any additional capital
required to bring future projects into production; future prices of
commodities; the failure of plant, equipment or processes to
operate as anticipated; accidents; labour disputes; Please refer to
the "Risk Factors" in materials filed with securities regulatory
authorities in Canada.
SOURCE Wesdome Gold Mines Ltd.