NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, March 17, 2023 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (NEX:PGM.H) ("PureGold" or the "Company") announces today the departures of Mark O'Dea, President & CEO; Phil Smerchanski, VP Exploration & Technical Services; Chris Lee, Chief Geoscientist; and Adrian O'Brien, Director Marketing and Communications, effective immediately. The Company also announces the departures of Chris Haubrich, VP Business Development & CFO and Ashley Kates, VP Finance & Corporate Secretary, effective March 31, 2023.
The above noted departures are taking place in consultation with the Company's senior lender, a fund managed by Sprott Resource Lending Corp. ("Sprott") and the court appointed Monitor in the ongoing Companies' Creditors Arrangement Act ("CCAA") proceedings, KSV Restructuring Inc. ("KSV"). The departures are being made in connection with an application scheduled to be heard on March 30, 2023 in the ongoing CCAA proceedings in which the Company will be seeking to appoint a Chief Administrative Officer ("CAO"). Mr. Haubrich, Ms. Kates, and Mr. Smerchanski have agreed to continue to provide support beyond their termination dates to the Company in a consulting capacity, as needed. The members of the Board of Directors have each indicated an intention to resign after the court appointment of the CAO.
The Company's PureGold Mine near Red Lake, Ontario remains in a state of care and maintenance and is expected to remain in such state for the foreseeable future as part of the ongoing CCAA proceedings. On March 7, 2023, the CCAA stay of proceedings was extended to May 12, 2023 and an additional US$5 million in authorized borrowings was approved. The Mine remains staffed with a full-time workforce of approximately 40 employees who are focused on care and maintenance activities and preserving the value of the asset. PureGold continues to engage in discussions with Sprott and interested third parties concerning a possible transaction.
The Company would like to thank Mark, Phil, Chris, Adrian, Chris, and Ashley for their leadership, dedication, and commitment and wishes them all the very best in their future endeavours.
About Pure Gold Mining Inc.
The Company is a Canadian gold mining company, located in Red Lake, Ontario, Canada. The Company owns the PureGold Mine, which began gold production in 2021 after the successful construction of an 800 tpd underground mine and processing facility. The Company's Mine is centered on a forty-seven square kilometre property with significant discovery potential.
Additional information about the Company and its activities may be found on the Company's website at and under the Company's profile at
ON BEHALF OF THE BOARD
"Graeme Currie"
Graeme Currie, Chairman
Investor inquiries:
Tel: 604-646-8000
info@puregoldmining.ca
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.
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including, but not limited to statements relating to the expected departure of certain employees, the efforts to preserve the value of the PureGold Mine while in care and maintenance, and the timing of a potential transaction. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.
Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration and development activities generally; delays in permitting; possible claims against the Company; the timing of future economic studies; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 30, 2022 in the section entitled "Risk Factors", under the Company's SEDAR profile at .
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
不得分發給美國新聞社或在美國境內傳播
溫哥華,不列顛哥倫比亞省,2023年3月17日(環球網)--Pure Gold Mining Inc.(納斯達克股票代碼:PGM.H)(以下稱“Puregold”或“公司”)今天宣佈,董事首席執行官梅克·奧迪亞、勘探與技術服務副總裁菲爾·斯莫蘭斯基、首席地球科學家克裡斯·李以及董事營銷與傳播總監禤浩焯·奧布萊恩的離職立即生效。公司還宣佈業務發展副總裁兼首席財務官Chris Haubrich和財務副總裁兼公司祕書Ashley Kates離職,自2023年3月31日起生效。
上述離職是在與公司的高級貸款人(由Sprott資源貸款公司(“Sprott”)管理的基金)和法院在正在進行的“公司債權人安排法”(“CCAA”)訴訟中指定的監督人KSV重組公司(“KSV”)協商後進行的。這些離職是與一項申請有關,該申請定於2023年3月30日在CCAA正在進行的程式中進行聆訊,在該程式中,公司將尋求任命一名首席行政官(“CAO”)。豪布裡奇先生、凱茨女士和斯莫蘭斯基先生已同意在終止日期後繼續以諮詢身分向公司提供必要的支持。董事會成員均表示有意在法院任命首席營運官後辭職。
本公司位於安大略省紅湖附近的Puregold礦仍處於維護和維護狀態,預計在可預見的未來,作為正在進行的CCAA程式的一部分,該礦將保持這種狀態。2023年3月7日,CCAA暫緩程式延長至2023年5月12日,並批准了額外500萬美元的授權借款。該礦仍擁有約40名全職員工,專注於護理和維護活動並保護資產價值。Puregold繼續與Sprott和感興趣的第三方就可能的交易進行談判。
本公司感謝梅克、菲爾、克裡斯、禤浩焯、克裡斯和阿什利的領導、奉獻和奉獻,並祝願他們在未來的工作中一切順利。
Pure Gold礦業公司簡介
該公司是一家加拿大金礦公司,位於加拿大安大略省紅湖。該公司擁有Puregold礦,該礦在成功建設日產量800噸的地下礦山和加工設施後,於2021年開始生產黃金。該公司的礦山以一塊47平方公里的土地為中心,具有巨大的發現潛力。
有關公司及其活動的更多資訊可在公司網站上找到,網址為:並在公司簡介下,
我代表董事會
“格雷姆·柯裡“
格雷姆·柯裡,董事長
投資者諮詢:
電話:604-646-8000
郵箱:info@puregoldmining.ca
多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
本新聞稿中的所有陳述,除有關歷史事實的陳述外,均屬適用證券法所指的有關該公司的“前瞻性資訊”,包括但不限於有關某些員工預期離職、在維護和維護期間保全普雷戈爾德礦價值的努力以及潛在交易的時機的陳述。前瞻性資訊通常但不總是通過使用諸如“尋求”、“預期”、“計劃”、“繼續”、“計劃”、“預期”、“專案”、“預測”、“潛在”、“瞄準”、“打算”、“相信”、“潛在”和類似的表達來識別,或描述“目標”或此類詞語和短語的變體,或陳述某些行動、事件或結果“可能”、“應該”、“可能”、“將”,“可能”或“將”被採取、發生或實現。前瞻性資訊並不是對未來業績的保證,基於陳述日管理層的一系列估計和假設,包括但不限於對未來黃金和其他金屬價格、貨幣匯率和利率、有利的經營條件、政治穩定、按時獲得政府批准和融資、獲得現有許可證和許可證的續簽和獲得所需許可證和許可證的穩定性、勞動力穩定性、市場條件的穩定性、設備可獲得性、任何礦產資源的準確性、成功解決糾紛和預期成本與支出等的假設。許多假設都基於不在公司控制範圍內的因素和事件,不能保證它們將被證明是正確的。
此類前瞻性資訊涉及已知和未知風險,可能導致實際結果與此類前瞻性資訊明示或暗示的任何未來結果大相徑庭,這些前瞻性資訊包括:當前經濟狀況;商品的未來價格;品位或回收率的可能變化;開發新礦藏的成本和時機;設備或流程未能按預期運行;合同方未能履行職責;勘探和開發活動的總體時機和成功程度;許可的延誤;可能對公司提出的索賠;未來經濟研究的時間;採礦業的勞資糾紛和其他風險;延遲獲得政府批准、融資或完成勘探,以及在公司2022年3月30日的年度資訊表中題為“風險因素”的部分討論的因素,公司的SEDAR簡介如下:。
儘管公司試圖找出可能導致實際行動、事件或結果與前瞻性資訊中描述的大不相同的重要因素,但可能還有其他因素導致行動、事件或結果與預期、估計或預期的不同。不能保證這些資訊將被證明是準確的,因為實際結果和未來事件可能與這類聲明中預期的大不相同。除非法律要求,否則公司不會因為新資訊、未來事件或其他原因而更新或修改任何前瞻性資訊,也不承擔任何義務。