LONGUEUIL, Quebec, May 25, 2020 (GLOBE NEWSWIRE) -- 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 & CEO
Tel: +1 450.677.2585
Email: info@reuniongold.com
