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ROUYN-NORANDA, Quebec, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (“Radisson” or the “Company”) (TSX.V: RDS, OTC: RMRDF) announces today that it has appointed Pierre Beaudoin, Chief Operating Officer of SilverCrest Metals Inc. (TSX: SIL, NYSE: SILV), and Jeff Swinoga, President & CEO of Exploits Discovery Corp (CSE: NFLD), to its board of directors effective September 22, 2021.
Mr. Beaudoin is a seasoned mining executive with more than 30 years of international experience with operations, project development and mineral processing. He is currently Chief Operating Officer of SilverCrest Metals Inc. (TSX:SIL, NYSE: SILV) where he is overseeing the construction and development of the high grade Las Chipas deposit in Sonora, Mexico. Prior to joining SilverCrest, Mr. Beaudoin worked with Detour Gold as Sr. VP of Capital Projects (2010-2013) and Chief Operating Officer (2013-2017) where he led the design, construction, development, ramp-up and operations at the Detour Lake Gold Mine. Prior to that, Mr. Beaudoin spent 16 years with Barrick Gold. During his last 6 years with Barrick, he worked in the Capital Projects Group, where he led the study teams on Buzwagi in Tanzania (commissioned in 2009), on Donlin Creek in Alaska and Cerro Casale in Chile. Before he joined Barrick Gold, he worked for Lac Minerals Ltd. and Noranda Minerals.
Jeff Swinoga, CPA, MBA
Mr. Swinoga is a highly accomplished mining executive with over 25 years of mining industry experience in the areas of capital markets, project advancement, development and project construction. He was recently appointed as President & CEO and Director of Exploits Discovery Corp. Prior to that, he was the National Mining and Metals Co-Leader at Ernst & Young Canada. Previously he was President and CEO of First Mining Gold, Chief Financial Officer of Torex Gold Resources Inc. (TSX: TXG) where he led the financing of Torex’s US$800 million El Limon-Guajes gold mine as well as Torex’s transition from an exploration and development company to a mid-tier gold producer. Prior to Torex, Mr. Swinoga spent four years as the CFO of North American Palladium Ltd., where he was instrumental in financing the expansion of the Lac des Iles Mine, in addition to the acquisition and development of two gold producing mines in Québec. He spent three years as CFO of HudBay Minerals Inc., helping growth the company from its IPO in 2004 to a market capitalization of over $2 billion. Mr. Swinoga also spent seven years at Barrick Gold Corporation where he was instrumental in the financing of the Bulyanhulu and Veladero projects. He is a Chartered Professional Accountant and holds a Master of Business Administration degree from the University of Toronto as well as a Bachelor's degree (Honours) in Economics from the University of Western Ontario. Mr. Swinoga also serves on the Board of PDAC this year and is also a member of their audit committee.
Rahul Paul appointed President and Chief Executive Officer
Furthermore, the Company announces that Rahul Paul has been appointed President & Chief Executive Officer, effective September 15, 2021. Since joining the company in November 2019, Mr. Paul has played an integral role in strategic planning, financial management, capital allocation and marketing. He was promoted to President in June 2020 and took on the role of Interim CEO in February 2021. He has been instrumental in enhancing the company’s capital markets profile, increasing institutional ownership, raising capital, and delivering several other value-added initiatives such as the New Alger acquisition in 2020.
Commenting on the appointments, Denis Lachance, Chairman of the Board of Directors, said:
“It is my pleasure to welcome Pierre and Jeff to our Board of Directors. During an illustrious career spanning over three decades, Pierre has led the charge of developing, operating and ramping up a number of world-class deposits including the largest gold mine in Canada, the Detour Lake Gold Mine. Jeff is an accomplished mining executive with more than 25 years of mining, capital markets company building and financial experience. He has been instrumental in financing the development and ramp-up of several large mines including the El Limon Guajes Mine (Torex Gold), Bulyanhulu (Barrick Gold) and Veladero (Barrick Gold). Jeff and Pierre bring a wealth of experience in mine development and project financing, which will position the company for the next phase of our value creation strategy with O’Brien. Furthermore, I am very pleased with the appointment of Rahul as our President and CEO. With Rahul as our President and CEO and the addition of Jeff and Pierre to the Board I look forward to unlocking the full value of our assets.”
Rahul Paul, President and Chief Executive Officer of Radisson Mining Resources, stated,
“Having had the privilege of working with Jeff and Pierre in the past, I am delighted at the opportunity to work with them again as we strive to advance the high-grade O’Brien Gold Project. Radisson is truly fortunate to have such accomplished mining executives on our board of directors. With their appointments to the board and the appointment of Michael Gentile earlier this year, we have added significant capital markets, mine development and project financing expertise to the team, which I believe will help us accelerate the process of value creation at O’Brien. Our continued ability to attract such accomplished individuals, is a testament to the quality of the asset, validation of our work thus far and the tremendous opportunity ahead for Radisson shareholders.”
Insider ownership and share purchases
Year-to-date 2021, insiders acquired 5,652,667 Class A shares by way of open- market purchases and/or the exercise of options/warrants, with total year-to-date share purchases representing 2.20% of total outstanding shares. As of September 21, 2021, insider ownership totalled 27,998,161 shares representing 10.94% of total outstanding shares.
Grant of stock options
Further to the Company’s stock options plan, the company has granted to the two new directors, stock options, vesting immediately to acquire a total of 1,500,000 Class A shares of the company at an exercise price of $0.22 per share for a term of 5 years expiring September 23, 2026.
About Radisson mining resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Quebec. The Bousquet-Cadillac mining camp has produced over 21,000,000 ounces of gold over the last 100 years. The project hosts the former O’Brien Mine, considered to have been the Quebec’s highest-grade gold producer during its production (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; Kenneth Williamson 3DGeo-Solution, July 2019).
On behalf of the board of directors
President and CEO
For more information on Radisson, visit our website at www.radissonmining.com or contact:
Chief Financial Officer
All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the development of the O’Brien project and generally, the above “About Radisson Mining Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward looking information can be found in Radisson’s disclosure documents on the SEDAR website at www.sedar.com.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavours to develop the O’Brien project and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.