Management Changes, Appointment of New Directors and Stock Option Grants
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MONTRÉAL, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: OB51) announces, further to its news release dated November 18, 2024 (entitled "Osisko Metals Expands Leadership Team and Announces C$100 Million Bought Deal Financing"), the following changes to Osisko Metals' leadership team:
Management Changes
The Company is pleased to announce the implementation of the following key management additions:
- John F. Burzynski has been appointed as a Director and Executive Chairman
- Don Njegovan has been appointed as President
- Blair Zaritsky has been appointed as Chief Financial Officer
- Amanda Johnston has been appointed as Vice President, Finance
- Alexandria Marcotte has been appointed as Vice President, Exploration
- Lili Mance has been promoted to Vice President, Corporate Secretary
The Company is pleased to announce the appointment of Patrick Anderson and Tara Christie to the Board of Directors of the Company (the "Board").
Patrick F.N. Anderson | Independent Director - Mr. Anderson holds a BSc. Degree in geology from the University of Toronto and is an entrepreneur and executive with over 30 years of experience in the resource sector. He has held key roles across gold, base metals, and diamond projects for junior explorers, major producers, and consulting firms in South America, North America and Europe. His board experience includes companies listed on the TSX-V, TSX, and LSE-AIM exchanges. As the founder, CEO, and Director of Dalradian Resources Inc., he led the discovery of over 6 million ounces of high-grade gold at Curraghinalt and executed a $537 million go-private transaction. Previously, he co-founded Aurelian Resources Inc., overseeing the discovery of the 13.7 million-ounce Fruta del Norte deposit, acquired for $1.2 billion. This deposit is now Lundin Gold's flagship asset. Mr. Anderson has been named Mining Man of the Year by The Northern Miner and received the PDAC Thayer Lindsley Award. He recently served as Lead Independent Director for Osisko Mining in its $2.2 billion acquisition by Gold Fields Ltd. Currently, he is the CEO of private Dalradian Resources, a Director of O3 Mining Inc., and Chairman of Cornish Metals Inc.
Tara Christie | Independent Director - Ms. Christie is a professional engineer and has over 25 years of experience in the exploration and mining business. Currently, she is the President, Chief Executive Officer and a Director of Banyan Gold Corp. and led the company from discovery to establishing its current resource on the AurMac Gold Project. Ms. Christie currently serves on the board of Western Copper and Gold Corporation and has served on the boards of several other public companies. She was formerly the President of privately owned Gimlex Gold Mines Ltd., one of the Yukon's largest placer mining operations. Ms. Christie has been a board member of PDAC, Association for Mineral Exploration BC, and the Yukon Environmental and Socio-Economic Assessment Board (YESAB). She is also President of the registered charity "Every Student, Every Day" that works to improve attendance in Yukon schools working with communities and First Nations.
Resignation of Luc Lessard
Luc Lessard has stepped down as a director of Osisko Metals, having served as a director on the Board since 2016. Mr. Lessard will continue as a strategic advisor to the Company.
Concurrent with these appointments, Anthony Glavac has stepped down as Chief Financial Officer.
"On behalf of the members of the Board, the management team and the staff of Osisko Metals, I would like to thank Luc and Anthony for their valued contributions and commitment to the success of Osisko Metals," commented Robert Wares, CEO of the Company. "We wish Luc and Anthony all the best in their future endeavors."
Option Grants
The Company announces that, effective December 12, 2024, it has granted to certain directors, officers, employees and/or consultants of the Company an aggregate of 15,100,000 stock options ("Options") pursuant to the Osisko Metals stock option plan.
The Options have an exercise price of $0.26 per share and a five-year term from the date of grant, and vest annually in equal thirds beginning on the first anniversary of the date of grant.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec's Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals' November 14, 2024 news release entitled "Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper". Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada's largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals' June 25, 2024 news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq". The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Robert Wares, Chief Executive Officer of Osisko Metals Incorporated
Email: [email protected]
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the anticipated resource expansion of the Gaspé Copper system; Gaspé Copper hosting the largest undeveloped copper resource in eastern North America; and the advancement of the Pine Point project.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
