Pretivm Announces Succession Plan for Executive Chairman
May 02 2019 - 5:47PM
Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”)
today announced that Executive Chairman and founding shareholder,
Robert Quartermain, will be retiring from the Company on December
31, 2019. Pretivm’s Board of Directors has undertaken a
succession plan to ensure a smooth transition and will elect a new
Chair prior to year-end. It has also initiated a search
process to identify a new director.
Dr. Quartermain indicated that in making the
announcement at the Company’s Annual General Meeting today, he
wanted to give the Board ample time to plan the transition prior to
his retirement.
“I have had the great pleasure over the past
nine years to work with the highly professional team at Pretivm in
developing the Brucejack project into Canada’s newest, profitable,
high-grade gold mine. Brucejack has evolved as envisaged when
Pretivm was launched in 2010, and as a major shareholder, I have
full confidence in Pretivm’s President and CEO, Joe Ovsenek, and
the operating team that he has put together at the company, to
continue to deliver value for all Pretivm shareholders from this
premier gold asset,” said Dr. Quartermain.
Lead Director, George Paspalas, speaking on
behalf of the Board of Directors and management and employees, said
“We extend our thanks to Bob, for his leadership and vision that
took Brucejack from an exploration project to a fully-fledged
Canadian gold producer in just over 9 years. We have benefitted
greatly from his wise counsel and his many contributions on our
path as a company, and on behalf of all of us I wish him every
success and enjoyment of his well-earned retirement.”
Dr. Quartermain was elected Executive Chairman
of Pretivm on January 1, 2017. He had served as Chairman and Chief
Executive Officer from October 2010 to December 2016 and as
President from October 2010 until May 2015. Prior to joining
the Company, Dr. Quartermain was the President and CEO of Silver
Standard Resources Inc. (now SSR Mining Inc.) from January 1985 to
January 2010.
About Pretivm
Pretivm is a low-cost intermediate gold producer
with the high-grade gold underground Brucejack Mine.
For further information contact:
Joseph
OvsenekPresident & CEO |
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Troy
ShultzManager, Investor Relations &Corporate
Communications |
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Pretium Resources Inc. Suite 2300, Four Bentall Centre, 1055
Dunsmuir Street PO Box 49334 Vancouver, BC V7X 1L4 (604) 558-1784
invest@pretivm.com (SEDAR filings: Pretium Resources Inc.) |
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Forward-Looking Statements
This news release contains “forward-looking
information” and “forward looking statements” within the meaning of
applicable Canadian and United States securities legislation
(collectively herein referred to as “forward-looking statements” or
“forward-looking information”). Wherever possible, words such
as “plans”, “expects”, “guidance”, “projects”, “assumes”, “budget”,
“strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”,
“believes”, “intends”, “modeled’, “targets” and similar expressions
or statements that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be achieved,
or the negative forms of any of these terms and similar
expressions, have been used to identify forward-looking statements
and information. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance are not statements of historical fact and may be
forward-looking statements. Forward-looking information in this
news release may include, but is not limited to, information with
respect to: the composition of, and the succession plan in respect
of, the Company’s Board of Directors. Forward-looking statements
are subject to a variety of known and unknown risks, uncertainties
and other factors that could cause actual events or results to
materially differ from those expressed or implied by the
forward-looking statements, including, without limitation, those
related to: the accuracy of our Mineral Resource and Reserve
estimates (including with respect to size, grade and
recoverability) and the geological, operational and price
assumptions on which they are based; uncertainties relating to
Inferred Mineral Resources being converted into Measured or
Indicated Mineral Resources; commodity price fluctuations,
including gold price volatility; general economic conditions; the
inherent risk in the mining industry; significant governmental
regulations; currency fluctuations, and such other risks as are
identified in Pretivm’s Annual Information Form dated March 28,
2019, Form 40-F dated March 28, 2019, MD&A and other disclosure
documents as filed in Canada on SEDAR at www.sedar.com and in the
United States through EDGAR at the SEC’s website at www.sec.gov
(collectively, the “Pretivm Disclosure Documents”). Our
forward-looking statements are based on the assumptions, beliefs,
expectations and opinions of management on the date the statements
are made, many of which may be difficult to predict and beyond our
control. In connection with the forward-looking statements
contained in this news release, we have made certain assumptions
about our business, including about our exploration, development
and production activities, and the results, costs and timing
thereof; timing and receipt of approvals, consents and permits
under applicable legislation; the geopolitical, economic,
permitting and legal climate that we operate in; the price of gold
and other commodities; exchange rates; market competition; the
adequacy of our financial resources, and such other material
assumptions as are identified in the other Pretivm Disclosure
Documents. We have also assumed that no significant events will
occur outside of our normal course of business. Although we believe
that the assumptions inherent in the forward-looking statements are
reasonable as of the date of this news release, forward-looking
statements are not guarantees of future performance and,
accordingly, undue reliance should not be put on such statements
due to the inherent uncertainty therein. We do not assume any
obligation to update forward-looking statements, whether as a
result of new information, future events or otherwise, other than
as required by applicable law. For the reasons set forth above,
prospective investors should not place undue reliance on
forward-looking statements. Neither the TSX nor the NYSE has
approved or disapproved of the information contained herein.
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