TSX VENTURE: GNH
Pink Sheets: GOLHF
MONTREAL, Nov. 5, 2013 /CNW/ - Golden Hope Mines Limited
(TSXV: GNH)(Pink Sheets: GOLHF) - The Board of Directors of
Golden Hope Mines Ltd. (TSX-V:GNH, or "the Company") has chosen to
issue its own press release in response to Mr. Takefman's comments,
allegations and misrepresentations. The Company complies with
the disclosure requirements for reporting issuers of publicly
listed Canadian corporations.
The Company wishes to assure its Shareholders that it believes
that it is in full compliance with National Instrument 51-102,
"Continuous Disclosure Obligations, National Policy 51-201,
"Disclosure Standards", and National Instrument 58-101, "Disclosure
of Corporate Governance Practices", which require that the Company
disclose any Officer or Director positions in reporting issuers,
or their equivalent in foreign jurisdictions, which are held by
its own Officers or Directors.
The Company's management are independent contractors and provide
management services to the Company as disclosed in the regulatory
filings on SEDAR. The Company has made no representations
that either Mr. Candido, nor any of its Officers or Directors, are
solely engaged in the management of the business affairs of Golden
Hope Mines Ltd. Mr. Candido's role as a business and financial
consultant was fully disclosed to the Board. Mr. Boivin's role as
consulting CFO was also disclosed to the Board. As disclosed, Mr.
Candido and Mr. Boivin are both independent consultants providing
management services to the Company.
The Board wishes to clearly express its support of its Chairman
of the Board, Mr. Robert Stocks,
whose decades of experience in corporate law have prepared him to
lead the Company with respect to corporate governance. The Board
adheres to strict policies of governance, and all Directors are
fully apprised of their fiduciary duties to the Company. Mr.
Takefman's definition of Director's independence is inconsistent
with those found in securities regulations. The Company relies on
the definition of financial independence defined in Part 1 of
National Instrument 52-110, "Audit Committees."
Mr. Takefman misstates the information in the Company's most
recent MD & A, filed to SEDAR on August
27, 2013, which states that "In the fourth quarter of 2012,
the Company's non-technical Management team proposed to the Board's
Compensation and Human Resources Committee of the Board of
Directors to defer 25% of its compensation until such time as
market conditions improve. This was done after careful
consideration and took into account the continued sluggish
performance of the junior exploration sector. The deferral took
effect on January 1, 2013. As of
April 1, 2013, management also
decided to change the deferral into a reduction in their
compensation and take an additional 25% deferral in fees."
The company has no employees; there are no salaries to consider.
The Officers of the Company are independent contractors. The
Company is presently accruing their invoiced fees as liabilities on
its balance sheet. Contrary to the statement made by Mr. Takefman,
the Company has no escrow account(s), and the contractors are
unsecured creditors of the Company. The Company provides no
assurances to its contractors that there will be sufficient funds
to remit the invoiced amounts. The Company has no cash-flow, as it
is dependent on raising funds through the sale of its
securities.
The Company also wishes to correct the misrepresentations made
by Mr. Takefman in respect of a property in Pembroke, Maine, disposed of by the Company in
November of 2011. The Company only held surface rights on the
property, and at the time was unable to negotiate acceptable terms
for the acquisition of the mineral rights. The Company ceased all
exploration activity on the Pembroke,
Maine property at the end of 2007. The Company engaged a
real estate agent and the property was for sale for an extended
period of time.
The Company wishes to assure its Shareholders that its business
affairs are completely transparent, and in full compliance with the
applicable securities laws and regulations. The Company advises
Shareholders to consult the Company's public filings, available on
SEDAR (http://sedar.com), rather than relying on the
unsubstantiated assertions of Mr. Takefman.
The Board of Directors, Golden Hope Mines Limited
Statements Regarding Forward-Looking Information
Information set forth in this news release by Golden Hope Mines
Limited may contain forward-looking information within the meaning
of Canadian securities laws. Forward-looking information includes
statements that relate to future, not past, events. In this
context, forward-looking information often addresses the Company's
expected future business and financial performance, and often
contains words such as "anticipate", "believe", "plan", "estimate",
"expect" and "intend", statements that an action or event "may",
"might", "could", "should" or "will" be taken or occur, or other
similar expressions (including negative and grammatical
variations). Such information includes plans, timing and
expectations for updates of the Company's resource estimate;
expectations regarding the Company's planned exploration activities
and budget; the timing for receipt of drilling and assay results;
and plans for further exploration and drilling at
Bellechasse-Timmins and Champagne/VMS and other targets along the
Bellechasse Belt. Specifically relating to possible mining of the
Bellechasse-Timmins gold deposit, the Company must obtain specific
permits beyond the Certificate of Authorization; may complete
additional exploration and development work; and obtain appropriate
financing before mining may begin. By their nature, forward-looking
information involves known and unknown risks, uncertainties and
other factors which may cause the Company's actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
information. Such factors include, among others, the following
risks: the risks associated with any outstanding litigation; risks
associated with exploration activities and project development;
timing of and unexpected events regarding the receipt and
interpretation of drilling and assay results; delays in the
preparation of resource estimate updates; the need for additional
financing; operational risks associated with mineral exploration;
fluctuations in gold and other commodity prices; title matters;
technical and permitting issues; environmental liability claims;
insurance matters; reliance on key personnel; the potential for
conflicts of interest among certain officers, directors or
promoters with certain other projects; the absence of dividends;
competition; dilution; the volatility of our common share price and
volume; the impact of taxation; and general economic conditions.
Forward-looking information is based on management's beliefs,
estimates and opinions on the date hereof and the Company
undertakes no obligation to update any forward-looking information
if these beliefs, estimates and opinions or other circumstances
should change. Investors are cautioned against attributing undue
certainty to forward-looking information.
Any historical mineral quantities set forth herein are, unless
otherwise indicated, not compliant with National Instrument
43-101.
About Golden Hope Mines Limited:
Golden Hope Mines Limited is a mineral
exploration company that seeks to grow shareholder value through
the acquisition, exploration and development of potentially
large-scale gold and base metal projects suitable for underground
and/or open-pit mining. The company's focus is in southeastern
Quebec, Canada. The company's
claim blocks lie within an area that extends approximately 100
kilometres along the Appalachians of southern Quebec from near Ste-Lucie-de-Beauregard to about 16 kilometres
southwest of Beauceville. The
Bellechasse-Timmins gold deposit lies 5 kilometres southeast of
St-Magloire within the Bellechasse
Belt an approximately 18 kilometre long mineralized area. The
Bellechasse-Timmins gold deposit includes the T1, T2A, T2B,
Ascot/Road gold zones, and the 88 Diorite. The company is also
looking to develop the Champagne zone, a partially explored base
metal and gold deposit that lies within the Company's Bellechasse
Belt claims. A recently completed VTEM survey may identify other
similar targets along the horizon. The company is also working to
develop other targets within its claim blocks including the FSG
gold and base metal target, Chute du Bras, the LG showing, Moose
Cliff, and Talon. For further information on Golden Hope Mines
Limited please visit www.goldenhopemines.com.
SOURCE Golden Hope Mines Limited