Announces Adoption of Restricted Share Unit Plan
and Grant of Restricted Share Units
THUNDER BAY, ON, April 30, 2019 /CNW/ - Wolfden Resources
Corporation (WLF.V) ("Wolfden" or
the "Company") is pleased to announce that it has
hired Jeremy Ouellette as Vice
President Project Development and retained Bill Fisher and Scott
Trebilcock as members of the Technical Advisory Board.
"Adding this kind of bench strength is a testament to the value
generation potential of Wolfden's assets," stated Ron Little, President and CEO for the
Company. "Mr. Ouellette's development and start-up experience
with Trevali will be instrumental as we advance our high grade
Pickett Mountain Project in Maine
and evaluate how it may unlock further value in our other leading
assets in the prolithic Brunswick
base metal camp. Mr. Trebilcock and Mr. Fisher bring rich
base metal, capital markets and development experience that adds
significant depth to the Board and our technical team."
Mr. Ouellette is a Professional Engineer with significant
experience in mine permitting, development and operations, most
recently supporting the design, start up and operation of the
Caribou Mine in New Brunswick for
Trevali Mining Corporation. During his time with Trevali he gained
experience in project evaluations, due diligence, project
acquisition, financing support, public relations and communications
and has successfully held several senior and leadership roles
throughout the transition between explorer/developer to a top 10
global zinc producer.
Mr. Fisher is a geologist with 40 years of experience in
exploration, development, mine financing and production of base
metal and precious metal deposits. He served as VP Exploration
for Boliden and was the founding CEO of Karmin Mining Corporation
that discovered the poly-metallic Aripuana district in Brazil, currently being developed by Nexa. He
was Chairman of Aurelian Resources that discovered the Frute del
Norte deposit that was sold to Kinross and now under construction by
Lundin Gold. He was also CEO of
GlobeStar Mining Corporation that developed and constructed the
Cerro de Maimon copper/gold mine in the Dominican Republic. He currently sits on other
public and private mining company board of directors.
Mr. Trebilcock has over 30 years of experience as an engineer,
management consultant and mining executive. Most recently he
was Chief Development Officer of Nevsun Resources which sold
to Zijin Mining for $1.9 billion
after a year long defense / sale process. At Nevsun, Mr. Trebilcock
lead investor relations and a world-wide M&A hunt that
culminated in the 2016 acquisition of Reservoir Minerals.
Prior to Nevsun, he worked at Nautilus Minerals, PRTM Consultants,
Noranda and Hatch. Mr. Trebilcock holds a B.Sc. in
Chemical Engineering and an MBA from Queen's University and is
a Chartered Director.
The Company has granted these persons options to acquire up to
600,000 common shares in the capital of the Company at an exercise
price of $0.20 per share. The options
expire five years from the date of grant and are subject to
specific vesting conditions.
In addition, the Company is pleased to announce that in order to
formalize a pay-for-performance culture and further strengthen the
alignment between insiders and shareholders of the Company, its
board of directors has adopted a restricted share unit plan (the
"RSU Plan"), subject to approval by the TSX Venture Exchange
(the "TSXV") and ratification by disinterested shareholders
of the Company at the annual and special meeting of shareholders to
be held on June 26, 2019 (the
"Meeting").
Subject to approval of the RSU Plan by the TSXV and ratification
by disinterested shareholders of the Company at the Meeting, an
aggregate of 1,208,750 restricted share units ("RSUs") have
been granted to management of the Company pursuant to the terms of
their employment agreements and in respect of annual performance in
2018. Each RSU entitles the recipient to receive one common share
in the capital of the Company, or a cash payment equal to the
equivalent of one common share in the capital of the Company,
following the vesting period of the RSU. Further details
regarding both the RSU Plan and the awards made under such plan,
including vesting periods, will be set out in the management
information circular of the Company which will be made available to
shareholders and filed on SEDAR in connection with the Meeting.
About Wolfden
Wolfden is focused on exploration and
development in prolithic mining camps of North
America. The flagship Pickett Mountain Project in
Maine, USA, is one of the
highest-grade base metal projects in North America (Zn, Pb, Cu, Ag, Au) and located
near excellent infrastructure. With the support of major
investors Kinross Gold Corporation and Altius Minerals, Wolfden
plans to complete additional drilling and technical studies in 2019
to support a preliminary economic assessment of an underground
mining scenario on the Project. The Company has several other
high-grade polymetallic exploration projects and continuously
evaluates additional investment opportunities.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains forward-looking
information (within the meaning of applicable Canadian securities
legislation) that involves various risks and uncertainties
regarding future events. Such forward-looking information includes
statements based on current expectations involving a number of
risks and uncertainties and such forward-looking statements are not
guarantees of future performance of the Company, and include,
without limitation, statements relating to information about
future activities at the Pickett Mountain Project that include
plans to complete additional drilling and technical studies
in 2019 to support a preliminary economic assessment of an
underground mining scenario on the Project. There are
numerous risks and uncertainties that could cause actual results
and the Company's plans and objectives to differ materially from
those expressed in the forward-looking information in this news
release, including without limitation, the following risks and
uncertainties: (i) risks inherent in the mining industry; (ii)
regulatory and environmental risks; (iii) results of exploration
activities and development of mineral properties; (iv) risks
relating to the estimation of mineral resources; (v) stock market
volatility and capital market fluctuations; and (vi) general market
and industry conditions. Actual results and future events could
differ materially from those anticipated in such information. This
forward-looking information is based on estimates and opinions of
management on the date hereof and is expressly qualified by this
notice. 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 at www.sedar.com. The Company 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 applicable law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Wolfden Resources Corporation
