Business
Wesdome CEO resigns; Board announces interim CEO
Wesdome CEO resigns; Board announces interim CEO
About this update from Wesdome Gold Mines Ltd.
[{"type":"text","content":"\n\n\n\nDec. 24, 2009 (Canada NewsWire Group) -- TORONTO, Dec. 24 /CNW/ -- Wesdome Gold Mines Ltd. (\"Wesdome\") announced today that Mr. Rowland Uloth has submitted his resignation as the Company's President and Chief Executive Officer. The Board has appointed Mr. Brian Northgrave, currently Chairman of the Board to act as Interim CEO. WDO's Board is taking steps to fill the CEO position in an expeditious manner.Brian Northgrave said \"Under Rolly's guidance, Wesdome successfully grew its production profile, built enviable cash position from operating cash flows and made the Dubuisson discovery in Val d'Or, Quebec. I would like to thank Rolly on behalf of all shareholders for his role in the Company's successes.Rolly Uloth said \"As Interim CEO, Brian Northgrave will provide strong continuity in this transition period, having served on the Board as Chairman as well as on the Governance and Compensation Committees.\"Brian Northgrave holds an M.B.A. from the University of Toronto, a Diploma of Business Administration from the London School of Economics and has been a director Wesdome since 2007, having been a director of Western Quebec Mines since 2004.Wesdome is an established Canadian gold producer with wholly-owned mining and milling complexes located in Wawa, Ontario and Val d'Or, Québec. Wesdome has been producing gold continually for 20 years on an unhedged basis and to date has produced in excess of 1.0 million ounces. The Company has 100.2 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, performa...