Click here to close now.




















Welcome!

News Feed Item

Timmins Gold Announces Four New Independent Nominees For Board

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/23/14 -- Timmins Gold Corp. (TSX: TMM)(NYSE MKT: TGD) ("Timmins Gold" or the "Company") announced today the nomination of four new, highly-qualified mining industry professionals to stand for election as part of an independent seven-person Board of Directors.

"The four new nominees will work alongside three incumbent directors to build value for all shareholders," said Paula Rogers, chair of the Special Committee of independent directors. "This enhanced, independent Board will collectively have more than 170 years of relevant experience. If elected, we will continue to execute on and evaluate Timmins Gold's proven business strategy, which has delivered superior performance and shareholder return."

Board Renewal Process

The Special Committee was formed to oversee the Company's response to a dissident campaign by Sentry Investments Inc. Through a rigorous Board renewal process the Special Committee identified and recruited the four new independent nominees.

As part of the Board renewal process, the Special Committee:


--  took into account Sentry's expressed concerns;
--  engaged an independent legal advisor and Korn Ferry International, the
    leading international executive search firm;
--  received input from some of the Company's largest shareholders; and
--  received input from RBC Capital Markets, which Timmins Gold has engaged
    as its financial advisor.

"The Board and the new nominees believe that the Board renewal process achieves many of the objectives sought by the dissident that are also of benefit to all shareholders" said Ms. Rogers. "Moreover, the Board renewal will preserve the knowledge and experience of Timmins Gold's operational and corporate management if the Timmins Gold Nominees are elected. This knowledge and experience will be lost if a dissident board is elected."

New Independent Director Nominees

All four new nominees are proven leaders with successful track records. They will bring unequalled technical, operational, financial and market expertise to our Board. Set out below is a brief biography of each of the new nominees:


--  George Brack, 52, has spent 29 years in the mining industry and in
    mining-focused investment banking. From 2000 to 2009 he was a mining-
    focused investment banker, serving successively as President and CEO of
    Macquarie North America and Managing Director, Industry Head, Mining
    with Scotia Capital Inc. Among other things, as an investment banker he
    advised clients on the sale of public companies and projects involving
    five gold mining assets in Mexico. From 1995 to 1999 he was Vice-
    President, Corporate Development for one of Canada's largest gold
    miners, Placer Dome Inc. He is currently a director of several companies
    including Silver Wheaton Corp. and Capstone Mining Corp. He served as
    chair of the special committee of the boards of both Red Back Mining
    Inc. in 2010 and Aurizon Mines Ltd. in 2013 when they were acquired for
    $7.2 billion and $796 million, respectively. He has an MBA degree from
    York University, a Bachelor of Applied Science degree in Geological
    Engineering from the University of Toronto and has earned the Chartered
    Financial Analyst designation.

--  Bryan Coates, 56, has spent 30 years in the mining industry. He
    currently serves as President of Osisko Gold Royalties Ltd. and
    previously was VP Finance and Chief Financial Officer for Osisko Mining
    Corp. from 2007 until it was acquired earlier this month for $3.9
    billion. Osisko developed and operated the Canadian Malartic mine, the
    largest gold mine in Quebec, and also conducted exploration work in
    Mexico. Before Osisko he served as VP Finance and Chief Financial
    Officer for IAMGOLD Corp. and Cambior Inc. Mr. Coates is a director of
    Golden Queen Mining Co. He has a Bachelor of Commerce degree from
    Laurentian University, and has earned the Chartered Accountant
    designation.

--  Stephen Lang, 58, a mining engineer, has spent more than 32 years in the
    mining industry. He is currently chair of Centerra Gold Inc., one of the
    largest gold miners in Asia. From 2008 to 2012, prior to becoming chair,
    he was Centerra's President and CEO. His prior experience includes
    serving as Executive VP and Chief Operating Officer of Stillwater Mining
    Co., and managing large mines for Barrick Gold Corp and Kinross Gold
    Corp. He has recently become a director of both Allied Nevada Gold Corp.
    and International Tower Hill Mines Ltd. For International Tower Hill he
    also serves as chair. He has a Master of Science degree and a Bachelor
    of Science degree from the University of Missouri-Rolla.

--  Luc Lessard, 50, a mining engineer, has spent more than 25 years
    designing, constructing and operating mining projects. He currently
    serves as Senior VP and Chief Operating Officer of Canadian Malartic
    Partnership and previously was Senior Vice President and Chief Operating
    Officer of Osisko Mining Corp. from 2011 until it was acquired earlier
    this month for $3.9 billion. He was Osisko's VP, Engineering and
    Construction from 2007 to 2011, during which time he was directly
    responsible for the design and construction of the Canadian Malartic
    gold mine. He previously served as VP Engineering and Construction for
    IAMGOLD Corp. and as General Manager, Projects for Cambior Inc. during
    which time he was responsible for the construction of the Rosebel gold
    mine in Suriname. He has a Bachelor of Applied Science degree from
    Universite du Laval, a College Degree in Mining Technologies from
    College de la Region de l'Amiante, and he has earned the Professional
    Engineer designation from the Canadian Council of Professional
    Engineers. Mr. Lessard is a director of Nighthawk Gold Corp.

Incumbent Director Nominees and Retiring Directors

Only one of the three incumbent directors nominated for election is a member of the management team - Chief Executive Officer Bruce Bragagnolo. The other two incumbent directors nominated for election are independent. As a result, if all seven Timmins Gold Nominees are elected, 86% of the Timmins Gold Board (6 of 7) will be independent.

As CEO, Mr. Bragagnolo oversees the strategic vision, administration and finance of the Company. He is 57 and has more than 27 years of experience in the natural resource sector both as a lawyer and a director. He has been responsible for structuring and raising over $100 million in equity and debt for Timmins Gold and overseeing the growth of the Company as it transitioned from junior developer to gold producer. As CEO he has guided the Company to industry-leading financial metrics.

Mr. Bragagnolo is a co-founder of Timmins Gold, along with Arturo Bonillas, President of Timmins Gold. Their leadership is largely responsible for the success of Timmins Gold and its outperformance when compared with peers. Messrs. Bragagnolo and Bonillas are among Timmins Gold's top ten shareholders, with a significant combined ownership of 3.3% of the issued and outstanding shares. Their interests, and the interests of the management team as a whole, are strongly aligned with the interests of shareholders and their decisions are made with a view to building long term shareholder value.

Below are brief biographies of the two independent incumbent directors:


--  Paula Rogers, 45, joined the Board in 2011. She is a Chartered
    Professional Accountant and brings over 20 years of experience working
    for Canadian-based international public companies in the areas of
    treasury, mergers and acquisitions, financial reporting and tax. She has
    extensive experience in the mining industry in both director and officer
    roles. Ms. Rogers is currently the CFO of Castle Peak Mining Ltd. and
    director and chair of the Audit Committee of Athabasca Uranium Inc. She
    has served as Vice-President, Treasurer of Goldcorp Inc., Treasurer of
    Wheaton River Minerals Ltd. and Treasurer of Silver Wheaton Corp. She
    has worked on several significant transactions including the spin-out of
    Silver Wheaton from Wheaton River Minerals and Goldcorp's acquisition of
    the Canadian assets of Placer Dome from Barrick Gold. She holds a
    Bachelor of Commerce degree from the University of British Columbia.

--  Jose Vizquerra Benavides, 34, joined the Board in 2013. Mr. Vizquerra is
    currently President, CEO and a director of Oban Mining Co. and has more
    than ten years of experience in mining. From 2008 until 2011 Mr.
    Vizquerra was the head of project evaluations with Compania de Minas
    Buenaventura of Lima, Peru, and from 2005 until 2008 he was a geologist
    with Goldcorp. Mr. Vizquerra is fluent in both Spanish and English. Mr.
    Vizquerra holds a Master of Science degree in Mineral Exploration from
    Queen's University and a Bachelor of Civil Engineering degree from the
    Peruvian University of Applied Science. He has earned the Certified
    Professional Geologist designation from the American Institute of
    Professional Geologists.

Mr. Bonillas and four other long-serving directors, Frank Cordova, Barry Fraser, Eugene Hodgson and Miguel Soto, will not be standing for re-election. The Company thanks each of them for their many years of dedicated service as directors and for their many contributions to the development of the Company, and its evolution into the sustainable producing mine operator it is today.

Mr. Bonillas will continue to serve as President of the Company with overall responsibility for the Company's operations. Mr. Soto will continue to serve as VP Exploration. Mr. Cordova has agreed to serve as a special advisor to the Board with respect to local matters.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) nor the NYSE MKT accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein may constitute forward-looking statements and are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Forward-looking statements are statements which relate to future events. Such statements include estimates, forecasts and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives and expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities and events, future operations, organic growth, mergers and acquisitions and the appointment of new directors.

In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements to conform these statements to actual results.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device acce...
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...