TORONTO, Dec. 24 /CNW/ - Wesdome Gold Mines Ltd. ("Wesdome") announced today that Mr. Rowland Uloth has submitted his resignation as the Company's President and Chief Executive Officer. The Board has appointed Mr. Brian Northgrave, currently Chairman of the Board to act as Interim CEO. WDO's Board is taking steps to fill the CEO position in an expeditious manner.
Brian Northgrave said "Under Rolly's guidance, Wesdome successfully grew its production profile, built enviable cash position from operating cash flows and made the Dubuisson discovery in Val d'Or, Quebec. I would like to thank Rolly on behalf of all shareholders for his role in the Company's successes.
Rolly Uloth said "As Interim CEO, Brian Northgrave will provide strong continuity in this transition period, having served on the Board as Chairman as well as on the Governance and Compensation Committees."
Brian Northgrave holds an M.B.A. from the University of Toronto, a Diploma of Business Administration from the London School of Economics and has been a director Wesdome since 2007, having been a director of Western Quebec Mines since 2004.
Wesdome is an established Canadian gold producer with wholly-owned mining and milling complexes located in Wawa, Ontario and Val d'Or, Québec. Wesdome has been producing gold continually for 20 years on an unhedged basis and to date has produced in excess of 1.0 million ounces. The Company has 100.2 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO".
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
SOURCE Wesdome Gold Mines Ltd.
For further information: For further information: Donovan Pollitt, P.Eng., VP Corporate Development, 8 King St. East, Suite 1305, Toronto, ON, M5C 1B5, Toll Free: 1-866-4-WDO-TSX, Phone: (416) 360-3743, Fax: (416) 360-7620, Email: email@example.com, Website: www.wesdome.com