Brigus Gold Reports Management Changes and Warrant Exercise
HALIFAX, Nova Scotia--(BUSINESS WIRE)-- Brigus Gold Corp. (NYSE MKT: BRD; TSX: BRD) ("Brigus" or the "Company") announces changes to its executive management team.
Brigus is pleased to announce that Daniel Racine has been promoted to President and Chief Operating Officer of the Company effective January 1, 2013. Wade Dawe will remain Chairman and Chief Executive Officer (CEO). Reporting to the CEO, Mr. Racine will assume additional operational responsibilities.
"I am delighted that Daniel has accepted the role of President of Brigus," said Wade Dawe, Chairman and CEO of Brigus Gold. "Daniel has an excellent reputation in the industry, he has demonstrated strong leadership and operational abilities as our Chief Operating Officer and I am confident that he will excel in his new role."
Along with this change, the Investor Relations and Human Resources functions will transition from the Halifax office to the Company's office in Toronto. "We believe it's in the best interest of the Company and our shareholders to move the positions of Investor Relations and Human Resources to Toronto," said Wade Dawe. "The financial markets are concentrated there and it's closer to our mining operations near Timmins, Ontario."
"We are disappointed that Jennifer Nicholson has chosen not to re-locate to Toronto, but we understand her decision. Jennifer has played a key role in the development of Brigus over the last two years providing operations support, Human Resource and Investor Relations expertise. We appreciate her contribution to the Company over the past two years and wish her well in the next chapter of her career," said Wade Dawe.
The Company would also like to report that the 5,326,782 warrants issued on December 10, 2008 were fully exercised on Monday, December 10, 2012 at an exercise price of $0.884 Cdn. The Company received total proceeds of $4,708,875 which will be used to fund general operations of the Company. To date, Brigus has a total of 231,274,963 common shares outstanding.
About Brigus Gold
Brigus is a growing Canadian gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine, the new Grey Fox property and adjoining properties in the Township of Black River-Matheson, Ontario, Canada. The Black Fox Mine is in production and the Grey Fox Mine, located four kilometres from Black Fox is in development. Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus owns the Ixhuatan Project located in the state of Chiapas. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects.
KEYWORDS: North America Canada
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