MONTREAL, May 13 /CNW Telbec/ - SEMAFO Inc. (TSX: SMF) today announced
the election of Messrs. Pierre Claver Damiba and Lawrence McBrearty to
SEMAFO's Board of Directors and the retirement of long-time board member, Mr.
Jean-Pierre Lefebvre, at the Company's Annual General Meeting of Shareholders
held yesterday in Montréal, Québec.
Mr. Damiba's extensive background in international finance includes
fifteen years of professional banking experience on both a national and
international scale. Mr. Damiba has advised governments, regulators, lenders
and major public and private corporations. His experience includes seven years
as the Minister of Economic Planning, Public Works, Industry and Mines in
Burkina Faso and, subsequently, eight years as Regional Director of the United
Nations Development Program (UNDP) in New York (USA).
He is currently Chairman of the Board of Directors of "Banque Régionale
de Solidarité Burkina" (BRS-Burkina), a member of the Executive Board of Coris
Bank International and an international freelance consultant.
Mr. Pierre Claver Damiba is an economist and development banker, with a
Masters degree in economics and a Graduate Diploma in Economic Planning and
Development Banking. He is also a published author.
Mr. Lawrence McBrearty spent 40 years of his career with the United
Steelworkers of America Union. His tenure with that organization began in 1974
as a staff representative. Mr. McBrearty subsequently held positions of
increasing responsibility with the organization, culminating in his nomination
as National Director for Canada, a position he held from 1994 until his
retirement in 2004.
Mr. McBrearty received a Ph.D. Honoris Causa from the "Université du
Québec". He has been a labor relations consultant since 2004. He was a member
of several Canadian associations and international committees related to steel
and mining and was a director of WCI Steel Inc. from 2006 to 2008.
On behalf of SEMAFO'S Board of Directors, Mr. Jean Lamarre welcomed
Messrs. Damiba and McBrearty and said, "We are very pleased to have these two
gentlemen join our board. Mr. Damiba is a native West African, whose broad
spectrum of experience in international banking, economic planning, public
works and government relations makes him a valuable addition to our board. The
Company will also greatly benefit from Mr. McBrearty's extensive mining sector
and labor relations experience and acumen as it pertains to the challenges and
opportunities of SEMAFO'S tomorrows."
SEMAFO also expressed its sincere gratitude to Mr. Jean-Pierre Lefebvre
for his important and lasting contribution to the Company and its Board of
Directors. Commenting on Mr. Lefebvre's retirement, Mr. Lamarre stated, "Mr.
Lefebvre joined SEMAFO's board in 1998 and played an integral role in the
direction and governance of the Company. On behalf of SEMAFO's management team
and its Board of Directors, I wish him the very best as he begins this new
chapter in his life."
Messrs. Damiba and McBrearty join SEMAFO's five-member Board of
Directors: Jean Lamarre (Executive Chairman), Benoit La Salle, CA, Bryan A.
Coates, CA, John LeBouthillier, CM, and Gilles Masson, CA.
SEMAFO is a Canadian-based mining company with gold production and
exploration activities in West Africa. The Company currently operates three
gold mines in Burkina Faso, Niger and Guinea. SEMAFO is committed to evolve in
a conscientious manner to become a major player in its geographical area of
interest, while maintaining principles and strengthening relationships to
increase shareholder value.
This press release may contain forward-looking statements. These
forward-looking statements include, but are not limited to, statements
regarding the Company's expectations as to the market price of gold, strategic
plans, future commercial production, production targets, timetables, mining
operating expenses, capital expenditures, and mineral reserve and resource
estimates. Forward-looking statements involve known and unknown risks and
uncertainties and accordingly, actual results and future events could differ
materially from those anticipated in such statements. Factors that could cause
future results or events to differ materially from current expectations
expressed or implied by the forward-looking statements include, but are not
limited to, fluctuations in the market price of precious metals, mining
industry risks, uncertainty as to calculation of mineral reserves and
resources, risks related to hedging strategies, risks of delays in
construction, requirements of additional financing and other risks described
in the Company's documents filed from time to time with Canadian securities
regulatory authorities. Although the Company is of the opinion that these
forward-looking statements are based on reasonable assumptions, those
assumptions may prove to be incorrect. Accordingly, readers should not place
undue reliance on forward-looking statements. Readers can find further
information with respect to risks in the Company's Annual Information Form and
other filings with Canadian securities regulatory authorities available at
www.sedar.com. The Company disclaims any obligation to update or revise these
forward-looking statements, except as required by applicable law.
For further information:
For further information: SEMAFO: Benoit La Salle, President & CEO, (514)
744-4408, Toll-Free: 1-888-744-4408, email@example.com; Sofia St Laurent,
Communications, (514) 744-4408, Toll-Free: 1-888-744-4408,