TORONTO, May 8, 2019 /CNW/ - Orefinders Resources Inc.
("Orefinders" or the "Company") (TSX.V: ORX) announces that,
further to its acquisition of 11,850,000 shares of Mistango River
Resources Inc. ("Mistango") (CNX: MIS), or over 31% of the shares
outstanding, from Osisko Gold Royalties, Orefinders has
requisitioned the convening of a shareholders meeting of Mistango,
in respect of its 2017 and 2018 fiscal years, and for the purpose
of changing its board of directors.
Requisition of Shareholders' Meeting for Mistango River
Resources
Orefinders has requisitioned the directors of Mistango to hold a
shareholder meeting pursuant to Section 143 of the Canada
Business Corporations Act. Mistango has been in default,
for over ten months, in holding its annual general shareholders
meeting in 2018 and its management has not yet called a meeting for
2019. Shareholders will be asked to replace the current Board of
Directors of Mistango, given the lack of progress and value
creation from their assets, including the development of the Omega
gold mine.
"I encourage all Mistango shareholders to reach out to me
directly to learn more about Orefinders' rationale for
requisitioning this shareholder meeting and our plan to turn
Mistango around for the benefit of all shareholders," said Stephen
Stewart Orefinders CEO.
The requisition delivered to Mistango proposed the election of
the following nominees:
Stephen Stewart
Stephen
has been involved in natural resource development and finance for
over fifteen years. He is currently the CEO of Orefinders Resources
Inc. and Power Ore Inc., both listed on the TSX Venture Exchange.
He is also the Chairman of the Young Mining Professionals global
group. Stephen holds a BA from the Western University, an MBA from the University of Toronto's Rotman School of Management and a M.Sc. from the
University of Florida's Hough Graduate
School of Business.
Alexander Stewart
Alex
has over 40 years of experience in the practice of corporate and
securities law and natural resource investments. He has been a
director of numerous public companies on various exchanges
including Nasdaq, AMEX, TSX and TSXV. For the last fifteen years he
has focused exclusively on the mining and metals sector and has
been instrumental in sourcing, funding and developing high-quality
mineral assets in North and South
America. In the past he was the founder, seed financier and
principal behind a number of mining projects including the Cote
Lake Project, acquired by IAMGOLD in 2012 for over $580m and the Eagle One polymetallic project now
owned by Noront Resources. He holds a Bachelor of Arts degree from
Western University, a Juris Doctor
degree from the University of Toronto
Law School and a Diploma, LCE, from the University of Madrid.
Charles Beaudry
Charles
is a P. Geo with over 35 years experience in project generation,
business development, exploration geochemistry and hands-on project
management. Charles previously held the position of General Manager
of new business opportunities with IAMGOLD Corporation from 2008
until 2009, after having spent nearly 17 years in various
capacities for Noranda-Falconbridge-Xstrata, including as country
manager of Brazil from 1996 to
2001 and manager of the Frieda River Project in Papua New Guinea from 2005 to 2006. He holds a
Bachelors of Science in Geology from the University of Ottawa and a Masters of Geology from
McGill University.
Gautam Narayanan
Gautam
is currently the Director of Corporate Development for Orefinders
Resources and Power Ore Inc. Prior to joining Orefinders, he was a
research associate at Canaccord Genuity, covering base and precious
metal equities. Gautam was previously an independent consultant
focused on providing research and analysis on the general mining
space, and more specifically in fertilizer commodities such as
phosphate and potash. He holds a Bachelor of Science and Master of
Science in Geology from the University of
Toronto, and a Master of Business Administration from the
Schulich School of Business at York
University.
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused
primarily within the Abitibi Greenstone Belt. The Company is listed
on the TSX Venture Exchange under the symbol ORX.
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the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Orefinders' assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Orefinders. Additional information identifying risks
and uncertainties is contained in filings by Orefinders with
Canadian securities regulators, which filings are available under
Orefinders' profile at www.sedar.com
SOURCE Orefinders Resources Inc.