VANCOUVER, BC / ACCESSWIRE / December 22, 2017 / FIORE GOLD LTD. (TSX-V:F.V) (FIOGF) ("Fiore or the "Company") is pleased to announce the appointment of Peter T. Hemstead to the Board of Directors and as Chair of the Audit Committee of the Company.
Mark H. Bailey, Chairman of Fiore's Board of Directors, commented, "Peter's significant financial and mining industry expertise further strengthens our Board and we look forward to working with him as we execute on our strategy to grow Fiore into a 150,000 ounce per year gold producer, with the producing Pan Mine as the cornerstone."
Mr. Hemstead is a Chartered Professional Accountant with an Honours Economics degree from the University of Western Ontario. Mr. Hemstead is currently the Chief Financial Officer at Bluestone Resources Inc. and has over 20 years of finance experience, including a senior financial executive role at Capstone Mining Corp. where he led the finance team through the successful expansion from a development stage mining company to an intermediate producer. He has a proven track record of providing financial leadership and his extensive experience in financial management, corporate finance, project finance, treasury, commercial banking, marketing/sales, financial risk management, insurance and international tax planning.
In conjunction with his appointment, Mr. Hemstead has been granted 175,000 stock options in accordance with the Company's Stock Option Plan. The options are exercisable into common shares of Fiore at C$0.75, the closing price on the TSX Venture Exchange ("TSX-V") December 21, 2017, for a period of 10 years, subject to TSX-V approval.
On behalf of FIORE GOLD LTD.,
Chief Executive Officer
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 release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions, and current expectations. Such statements include but are not limited to, statements with respect to future increases in gold production, goals and expectation describing Fiore's corporate strategy and the plans and anticipated results for future exploration and development of Fiore's properties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects," "expected," "budgeted," "forecasts," "targets," and "anticipates." These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the Pan Mine, the Gold Rock Project and the Golden Eagle Project; risks related to international operations; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Fiore operates. Although Fiore has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. Fiore disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as required by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to Fiore's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting Fiore and its business.
SOURCE: Fiore Gold Ltd.