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MONTREAL, May 11, 2020 /CNW Telbec/ - Yorbeau
Resources Inc. (TSX: YRB) (the "Company" or
"Yorbeau") today announces that Mr. Henri Gélinas and Mr.
Jérôme Gendron have been appointed to the board of directors of the
Company and that Mr. Pierre Éloi Talbot has resigned as a director.
Mr. Gélinas was concurrently appointed as Chairman of the board of
the Company.
Mr. Gérald Riverin, director and former President of the
Company, and Mr. Amit Gupta,
director and former Chairman of the Company, will not be standing
for re-election as directors of Yorbeau at the Company's upcoming
annual shareholder meeting which is scheduled to be held on
June 17, 2020.
The Company thanks Messrs. Gupta, Talbot and Riverin for their
contributions to the Company during their years of service.
Mr. Gélinas has over 50 years of experience in the construction
and infrastructure industry. From 1965 to 1972, Mr. Gélinas worked
at the Ministère des Transports du Québec, where he participated in
the construction of the Trans‑Canada Highway between Québec City
and Rivière-du-Loup. In 1972, Mr. Gélinas founded Construction
Gely Inc., a construction company specialized in the construction
of bridges, roads, docks and airports in remote regions. In 1984,
Mr. Gélinas expanded Construction Gely Inc.'s operations into the
Nunavik territory in Northern Québec, and again into Nunavut in 1987. Mr. Gélinas is also the
President and founder of Kudlik Construction Inc., a construction
company founded in 1993, and Kudlik Aviation Inc., a regional air
transport company founded in 2007. Mr. Gélinas holds a Bachelor of
Engineering (Metallurgy) from the University
of Laval.
Mr. Gendron has extensive experience as an investment advisor,
with a career spanning over 50 years with Nesbitt, Thomson and Company (now BMO Nesbitt
Burns Inc.). Mr. Gendron holds both a Bachelor of Administration
and a Bachelor of Engineering (Metallurgy) from the University of Laval, as well as a Master of
Business Administration from Ivey Business School.
The board of directors of the Company has also appointed Mr.
Terry Kocisko as Interim Chief
Executive Officer.
Terry Kocisko, director and
Interim Chief Executive Officer, commented: "I would like to
welcome Mr. Gélinas and Mr. Gendron to the board of Yorbeau.
The Company is looking forward to the benefit of their experience
and insight in executing the Company's strategic objectives."
About Yorbeau Resources Inc.
Yorbeau Resources is a diversified mining exploration company
with an enviable portfolio of exploration properties in
Quebec. The exploration projects
comprise both gold and base metal projects, and the strategic focus
of the Company is on projects located in areas easily accessible
and with infrastructure. The wholly-owned Rouyn Property is the
Company's main gold asset and contains four known gold deposits in
the 6 km long Augmitto-Astoria corridor situated on the western
portion of the property. The Company signed a definitive agreement
in December 2018, whereby IAMGOLD has
the option to acquire a 100% interest in the Rouyn property, where
very encouraging drilling results were obtained in 2019. The base
metal assets include the Scott Project, which bears important
mineral resources (see the press release dated March 30, 2017) and on which a positive
Preliminary Economic Assessment was recently completed.
For additional information on the Company, consult its website
at www.yorbeauresources.com.
Forward-looking statements: Except for
statement of historical fact, all statements in this news release,
including, without limitation, statements regarding the management
succession planning of the Company, are forward‑looking statements
which involve risks and uncertainties. There can be no assurance
that such statements will prove to be accurate; actual results and
future events could differ materially from those anticipated in
such statements. Yorbeau disclaims any obligation to update such
forward-looking statements, other than as required by applicable
securities laws.
SOURCE Yorbeau Resources Inc.
