Reunion Gold Provides a Corporate Update
26 May 2020 - 4:46AM
Reunion Gold Corporation (the “Company”) (TSX-V: RGD) announces
that it will hold its annual general meeting of shareholders (the
“AGM”) on June 19, 2020 at 11:00 a.m. (ET) at the Company’s offices
in Longueuil, Quebec and that its Board of Directors (“Board”)
plans to reduce the number of directors from ten to seven,
effective following the AGM.
The Governance Committee and the Board
determined that reducing the size of the Board was necessary to
reflect the current size and scope of activities of the Company.
Five directors namely Leanne Baker, Chantal Gosselin, Robert
Leckie, Peter Nixon and Catherine Stevens will be retiring from the
Board upon completion of their terms at the AGM. Elaine Bennett,
David Fennell, Réjean Gourde, Vijay Kirpalani and Marian Moroney
will stand for re-election. Two new candidates are being nominated:
Adrian Fleming, a professional geologist with over 40 years of
experience with exploration and development stage mining companies
including companies having projects in the Guyana Shield region,
and Rick Cohen, an investment banker with over 35 years of
experience in financing and M&A in the mining industry. The
Board believes that these two nominees will together bring valuable
knowledge and experience in exploration, development and financing
of mineral projects.
The Board and management wish to recognize the
valuable contributions of the directors who are not standing for
re-election and most particularly Mr. Peter Nixon and Ms. Leanne
Baker who have been on the Board since its inception in 2004. “On
behalf of the Board and management I sincerely thank them and wish
them all the very best in the future” said David Fennell, chairman
of the Board.
Further information on all proposed nominees can
be obtained in the Company’s Information Circular, available on the
Company’s website and on SEDAR.
Business Update
Given the COVID-19 pandemic outbreak, the
Company has suspended all field activities and continues its
efforts to further reduce expenditures and preserve cash. To this
end, Board members and senior executives have agreed to a reduction
of up to 50% of their compensation effective January 1, 2020.
The Company continues to advance on project
generation initiatives in Guyana and Suriname. Desktop reviews are
being conducted on potential new areas and through the engagement
of local partners in the region, as well as on our existing
projects in the Guiana Shield. The Company intends to resume field
activities when it is safe for both employees and contractors to
travel and work. In French Guiana, the mining concession
application for the Dorlin project is expected to be filed during
the coming weeks.
Cautionary Statement
This press release contains 'forward-looking
information' within the meaning of applicable Canadian securities
legislation. Forward looking information in this news release
includes information with respect to plans to resume activities.
Forward-looking information is based on reasonable assumptions that
have been made by Reunion Gold Corporation as at the date of the
information and is subject to known and unknown risks,
uncertainties, and other factors, including the impact of the
COVID-19 pandemic, that may have an impact on the Company’s plans
and cause actual results or events to differ materially from those
anticipated in the forward-looking information.
Neither the 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 press release.
About Reunion Gold
Reunion Gold Corporation is a Canadian
exploration company focused on acquiring, exploring, and developing
gold projects in the Guiana Shield, South America. The Company has
various option agreements to acquire gold projects in French Guiana
and Guyana. The Company’s common shares are listed on the TSX
Venture Exchange under the symbol ‘RGD’. Following completion of
the Offering, the Company has 432,010,271 common shares issued and
outstanding. Additional information about the Company is available
on SEDAR (www.sedar.com) and on the Company’s website
(www.reuniongold.com).
For further information please
contact:REUNION GOLD CORPORATION Réjean Gourde,
President & CEOTel: +1 450.677.2585Email:
info@reuniongold.com
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