VAL-D'OR, QC, June 1, 2020 /CNW/ - Orbit Garant Drilling Inc. (TSX: OGD) ("Orbit Garant" or the "Company") today announced the retirement of Paul Carmel from the Company's Board of Directors, and the appointment of Jean-Yves Laliberté as Chair of the Board of Directors, effective June 30, 2020. Orbit Garant also announced the appointment of Pierre Rougeau to its Board of Directors, effective immediately.
Mr. Laliberté has been a member of Orbit Garant's Board of Directors since its initial public offering in 2008 and has served as the Chair of the Audit Committee. Mr. Laliberté has more than 30 years of finance and accounting experience, primarily in the mining sector. From 2007 to 2015, he served as Chief Financial Officer of Cartier Resources Inc. and in 2015, he was appointed Chair of the Board of Cartier Resources. Prior thereto, he held progressively senior management roles with various Canadian mining companies. Mr. Laliberte is a Chartered Professional Accountant and member of the Ordre des comptables professionnels agréés (CPA, CA) and holds the Institute of Corporate Directors designation (ICD.D).
Mr. Rougeau has more than 30 years of experience in finance and business administration and is currently working as a private business consultant. From 2012 to 2014, Mr. Rougeau was Executive Vice President and Chief Financial Officer of Richmont Mines Inc. Prior thereto, he was Executive Vice President, Operations and Sales for AbitibiBowater Inc. (2007 to 2011) and Chief Financial Officer and Senior Vice President, Corporate Development at Abitibi Consolidated Inc. from 2001 to 2007. Mr. Rougeau previously worked in investment banking at Geoffrion Leclerc Inc., Scotia Capital and UBS Warburg, providing corporations with services related to capital raising, mergers and acquisitions, and business valuations (1981 to 2001). Mr. Rougeau has also previously served on the Board of Directors of La Senza Inc. and SFK Pulp. Mr. Rougeau holds a Bachelor of Science in Business Administration (Accounting) from Saint Louis University and a Master of Science (Finance) from Sherbrooke University.
To facilitate Mr. Rougeau's immediate appointment as a director, Orbit Garant has expanded the number of directors on its Board from five to six. As a result, upon Mr. Carmel's departure on June 30, 2020, there will be a vacant seat on the Company's Board of Directors. The Board of Directors does not intend to fill this vacancy immediately but may consider doing so in the future if a suitable independent candidate can be identified.
Mr. Carmel joined Orbit Garant's Board of Directors in December 2014 and was appointed Chair in November 2015. He recently accepted a senior position with a mining investment firm that will require his full commitment.
"We thank Paul for his strategic guidance and many contributions as a member of our Board since 2014 and as Chair for the past five years, and we wish him continued success with his new responsibilities," said Pierre Alexandre, Vice Chair of Orbit Garant. "We are delighted that Jean-Yves has accepted the appointment as our new Chair, and we look forward to his ongoing leadership and support. We are also pleased to welcome Pierre Rougeau to our board. Pierre's extensive experience as a senior business executive and former investment banker will be a significant benefit to Orbit Garant."
About Orbit Garant
Headquartered in Val-d'Or, Quebec, Orbit Garant is one of the largest Canadian-based mineral drilling companies, providing both underground and surface drilling services in Canada and internationally through its 231 drill rigs and more than 1,300 employees. Orbit Garant provides services to major, intermediate and junior mining companies, through each stage of mining exploration, development and production. The Company also provides geotechnical drilling services to mining or mineral exploration companies, engineering and environmental consultant firms, and government agencies. For more information, please visit the Company's website at www.orbitgarant.com.
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Orbit Garant Drilling Inc. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Risks and uncertainties that could cause actual results, performance or achievements to differ materially include the ability of the jurisdictions in which the Company operates to manage and cope with the implications of COVID-19, the impact of measures taken by such jurisdictions to control the spread of COVID-19 on the Company's operations, the economic and financial implications of COVID-19 to the Company, including its impact on cash flows, liquidity and the Company's compliance with its obligations under its borrowing agreements as well as the risks and uncertainties are discussed in the Company's regulatory filings available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by applicable securities laws.
SOURCE Orbit Garant Drilling Inc.
For further information: Alain Laplante, Vice President and Chief Financial Officer, (819) 824-2707 ext. 122; Bruce Wigle, Investor Relations, (647) 496-7856