Guyana Goldfields reaches settlement with shareholders behind proxy challenge

-two new directors to be appointed, search for new CEO planned

Alan Pangbourne

Canadian mining company Guyana Goldfields Inc. has reached a settlement with a group of shareholders who had been seeking to take control and will be appointing two independent directors, while two long-serving ones will step down, the company said yesterday.

According to a press release from the Canadian-based public relations company CNW Group, as part of the settlement that was reached with the group of shareholders, including the company’s former Executive Chair Patrick Sheridan, Guyana Goldfields will appoint Alan Pangbourne and Allen Palmiere, who are described as “experienced mining executives.”

“We have reached a constructive outcome with the Requisitioning Shareholders. The two new directors will add valuable experience to the Board, allowing all of us to move forward and devote our full attention to the Company’s optimization strategy for its Aurora Gold Mine in Guyana,” the release quoted Chair of the Board René Marion as saying…..

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