West Red Lake Gold Announces Appointment of Hugh Agro to Board of Directors
July 27 2023 - 7:00AM
West Red Lake Gold Mines Ltd. (“West Red
Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG)
(OTCQB: WRLGF) is pleased to announce the
appointment of independent director, Hugh Agro, to the Company’s
board of Directors.
Mr. Agro, B.Sc., MBA, P.Eng.(non-practising) has
over 35 years of leadership and business experience in the mining
industry. Since 2017, Mr. Agro has served as President & CEO
and Director of Revival Gold Inc., a U.S. focused gold exploration
and development company. Prior to Revival Gold Inc., Mr. Agro
co-founded Carbon Arc Capital Investments Inc., a private-equity
backed investor in mining and metals and served as Executive Vice
President, Strategic Development with Kinross Gold Corporation. At
Kinross, Mr. Agro was a member of the Executive Leadership Team and
responsible for strategic and operational leadership of Kinross’
growth initiatives including corporate development, global
exploration and commercial activities in Russia. Previously, Mr.
Agro held senior executive positions with Placer Dome and in
investment banking with Deutsche Bank’s Global Metals and Mining
Group. Mr. Agro has served on the Board and Audit Committees of
Victoria Gold Corp., Chantrell Ventures and Americas Silver Corp.
and currently serves as a Director of Fort Berens Estate Winery
Ltd., an award-winning winery located in British Columbia, Canada.
Mr. Agro holds a Bachelor of Science in Mining Engineering from
Queen’s University (1989) and MBA Finance from UBC & London
Business School (1997).
The appointment of Mr. Agro follows the
resignation of Mr. Rob van Egmond from its Board of Directors
effective 26, 2023. The Company would like to thank Mr. van Egmond
for his contributions to the Company’s success to date.
Shane Williams, President and CEO comments, “We
are delighted to welcome Hugh Agro to the West Red Lake Gold team.
His qualifications and skillset expand the Board's expertise as he
brings a wealth of experience in executive leadership, strategy,
technical expertise and finance. He will be a significant
contributor to the expansion and development of West Red Lake
Gold’s future.”
The Company has granted 400,000 stock options to
Mr. Agro, which vest over a three year period with 25% vesting in 3
months from the grant date and 25% vesting on the first, second and
third anniversary of the grant date at an exercise price of $0.69
and will be exercisable for a 5 year period expiring July 26,
2028.
In addition, 100,000 DSUs have been granted to
Mr. Agro which will vest on the first anniversary of the grant date
of July 26, 2023.
Further to its news release of July 6, 2023, the
Company is pleased to announce that due to excess demand, it has
increased its non-brokered flow-through private placement financing
to $7,000,000 by the issuance of up to 10,000,000 flow-through
shares at $0.70 per flow-through share (the “Offering”). The
Offering is subject to TSXV approval. The Company intends to use
the proceeds from the Offering for the exploration and advancement
of its properties in Red Lake, Ontario.
ABOUT WEST RED LAKE GOLD
MINES
West Red Lake Gold Mines Ltd. is a mineral
exploration company that is publicly traded and focused on
advancing and developing its flagship Madsen Gold Mine and the
associated 47 Km2 highly prospective land package in the Red Lake
district of Ontario. The highly productive Red Lake Gold District
of Northwest Ontario, Canada has yielded over 30 million ounces of
gold from high-grade zones and hosts some of the world's richest
gold deposits. WRLG also holds the wholly owned Rowan Property in
Red Lake, with an expansive property position covering 31 Km2
including three past producing gold mines - Rowan, Mount Jamie and
Red Summit.
ON BEHALF OF WEST RED LAKE GOLD MINES
LTD.
“Shane Williams”
Shane
Williams President
& Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Amandip Singh, VP Corporate DevelopmentTel:
416-203-9181Email: investors@westredlakegold.com or visit the
Company’s website at https://www.westredlakegold.com
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 release.
Certain statements contained in this news
release constitute "forward-looking statements". When used in this
document, the words "anticipated", "expect", "estimated",
"forecast", "planned", and similar expressions are intended to
identify forward-looking statements or information. These
statements are based on current expectations of management,
however, they are subject to known and unknown risks, uncertainties
and other factors that may cause actual results to differ
materially from the forward-looking statements in this news
release. Readers are cautioned not to place undue reliance on these
statements. West Red Lake Gold Mines Ltd. does not undertake any
obligation to revise or update any forward- looking statements as a
result of new information, future events or otherwise after the
date hereof, except as required by securities laws.
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