Trading Symbol:TSX: GGD
Shares Outstanding: 162,222,003
HALIFAX, NS, Jan. 11, 2016 /CNW/ - GoGold Resources Inc. (TSX: GGD) ("GoGold", "the Company") is pleased to announce that Brad Langille moves from Strategic Advisor to replace Terry Coughlan as President and CEO effective today. Mr. Coughlan will continue his role as Chairman of the Board of Directors.
"Brad is the right person to take GoGold to the next level," said Coughlan. "His experience in building and operating mines in Mexico is instrumental in executing GoGold's growth plan."
Mr. Langille has 20 years of mining experience which includes co-founding both Gammon Gold and Mexgold Resources where he served as CEO and Director. He successfully took the companies from grass root operations to commercial producers and raised in excess of $500 million for the development and construction of both mines.
"The Board is pleased that Brad has accepted this leadership role and is confident his experience and significant company shareholdings will be beneficial to shareholders," said GoGold Director, George Waye. "We also thank Terry for his contributions and look forward to his continued guidance on the Board as Chairman."
Additional management changes
On the operations front, Anis Nehme is being promoted from Mexico Manager to Chief Operating Officer effective today. Mr. Nehme, who resides in Mexico, has a master's degree in engineering and more than 10 years of experience in the mining industry.
Dan Whittaker, Executive Vice President, Chief Administrative Officer and Corporate Secretary, resigned to pursue other opportunities. The Board of Directors and management team thank Mr. Whittaker for his valuable contributions.
Glenn Jessome has been appointed as Corporate Secretary and General Legal Counsel of GoGold effective today. Mr. Jessome is a securities lawyer, a member of the National Advisory Committee for the TSX Venture Exchange, and a member of the Canadian Society of Corporate Secretaries and ICD.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company's Parral Tailings project is one of the lowest cash cost silver producers in the world. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information visit gogoldresources.com.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in the United States.
This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the impact of the private placement and debt financing on GoGold and the Parral tailings project, and future plans and objectives of GoGold, constitute forward-looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the ability to satisfy all conditions to funding of the second tranche under the credit agreement. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with the GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.
SOURCE GoGold Resources Inc.
For further information: Steve Low, Corporate Development, GoGold Resources, T: 647-620-5101, E: [email protected]