Wesdome Gold Mines Announces Results of Annual and Special Meeting

Download as PDF Published on: June 21, 2017

TORONTO, ON--(Marketwired - June 21, 2017) - Wesdome Gold Mines Ltd. (TSX: WDO) (the "Company") announces the results of the Company's annual and special meeting of shareholders (the "Meeting") held earlier today.

A total of 86,641,252 common shares were represented at the Meeting, representing 65.32% of the total issued and outstanding common shares of the Company.

All matters presented for shareholder approval at the Meeting were approved, as follows:

  a)   Appointment of Grant Thornton LLP as auditors of the Company for the ensuing year and authorizing the directors of fix their remuneration;
  b)   Election of the directors of the Company for the ensuing year; and
  c)   Approval of the 2017 Omnibus Equity Incentive Plan of the Company.

The following seven individuals were elected as directors of the Company, until the next annual meeting of shareholders, as set out in the table below:

Name of Nominee   Votes cast
  % of votes
cast FOR
  Votes cast
  % of votes cast
Charles Main   81,314,170   99.83   139,583   0.17
Duncan Middlemiss   81,321,270   99.84   132,483   0.16
Nadine Miller   81,328,685   99.85   125,068   0.15
Warwick Morley-Jepson   81,245,485   99.74   208,268   0.26
Charles Page   81,323,970   99.84   129,783   0.16
Rowland Uloth   52,466,558   64.41   28,987,195   35.59
Bill Washington   81,314,120   99.83   139,633   0.17

Please refer to the Company's Report of Voting Results filed on SEDAR at www.sedar.com for further details on the above matters.

Wesdome Gold Mines is in its 30th year of continuous gold mining operations in Canada. The Company is 100% Canadian focused with a pipeline of projects in various stages of development. The Eagle River Complex in Wawa, Ontario is currently producing gold from two mines, the Eagle River Underground Mine and the Mishi Open pit, from a central mill. Wesdome is actively exploring its brownfields asset, the Kiena Complex in Val d'Or, Quebec. The Kiena Complex is a fully permitted former mine with a 930 metre shaft and 2,000 tonne per day mill. The Company has further upside at its Moss Lake gold deposit, located 100 kilometres west of Thunder Bay, Ontario, which is being explored and evaluated to be developed in the appropriate gold price environment. The Company has approximately 133 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol "WDO."

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.