TORONTO , May 8, 2019 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (ORX.V) announces that, further to its acquisition of 11,850,000 shares of Mistango River Resources Inc. ("Mistango") (MIS.CN), 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 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.
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 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 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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Neither 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 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.
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