THUNDER BAY, ON, Jan. 2, 2018 /CNW/ - Wolfden Resources
Corporation (TSX-V:WLF) is pleased to announce that Mr. Ronald
Little has agreed to join the Wolfden Team as a
lead director of the Corporation. Mr. Little is a
professional engineer that brings a successful track record of
exploration, corporate and mine development and mining
operations. As an active director of the Board, he will
assist in advancing Wolfden's new Pickett Mountain high-grade base
metal project in Maine, USA as
well assessing other opportunities.
Mr. Little's previous experience includes over 30 years of
progressive leadership and executive management of publicly traded
mining companies. In 1996, he was the founder of Orezone Resources
Inc., a company that went on to develop the largest gold mine in
Burkina Faso that was taken over
in a deal worth $350M by Iamgold in
2008. In addition to extensive marketing and project finance
experience, Mr. Little has a broad technical background that
includes the management of underground and surface mining
operations, permitting and feasibility studies all of which will be
valuable attributes in moving Wolfden towards mine development. Mr.
Little also sits on the boards of Premier Gold Mines and Northern
Graphite Corp.
"Having worked with Ron for a number of years, I am confident in
his ability to advance projects to development and build
shareholder value" commented Ewan
Downie, Chairman. "His diverse world-wide experience and
strong exploration and underground operational experience will
complement our existing Board and team as we advance our key assets
and assess additional opportunities."
In connection with his appointment as a director, Mr. Little has
agreed subscribe for 500,000 common shares of the Corporation at a
price of $0.29 per share on a private
placement basis pursuant to applicable exemptions. The common
shares to be issued pursuant to the private placement will be
subject to a four month hold period pursuant to applicable
securities laws. The completion of the private placement is subject
to receipt of required regulatory approvals, including the approval
of the TSX Venture Exchange and is expected to close on or about
January 6, 2018.
In addition, the Corporation has granted Mr. Little options to
acquire up to 600,000 common shares at an exercise price of
$0.53 per share and expiring five
years from the date of grant, with 500,000 of such options subject
to specific vesting conditions.
About Wolfden:
Wolfden is a Canadian junior mining exploration company who's
core asset is the Pickett Mountain high-grade base metal in
Maine, USA. With a recently
updated mining code in Maine, the
Company is focused on advancing to property to an underground mine
development scenario through an aggressive program of definition
and expansion drilling followed by technical and environmental
studies. Historical work demonstrates the potential to expand the
current drill-defined mineralization and through the use of more
modern geophysical techniques, the company hopes to identify other
high priority drill targets.
This Press Release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward-looking information includes, but
is not limited to, statements about strategic plans, including
future operations, future work programs, capital expenditures,
discovery of minerals, price of base metals and currency exchange
rates, timing of geological and environmental reports and corporate
and technical objectives.. Forward-looking information is
necessarily based upon a number of assumptions that, while
considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results
and future events to differ materially from those expressed or
implied by such forward-looking information, including the risks
inherent to the mining industry, adverse economic and market
developments and the risks identified in Wolfden's continuous
disclosure documents. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue
reliance on forward-looking information. All forward-looking
information contained in this press release is given as of the date
hereof and is based upon the opinions and estimates of management
and information available to management as at the date
hereof. Wolfden disclaims any intention or obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by law.
SOURCE Wolfden Resources Corporation