Wellgreen Platinum Provides Wellgreen Project and Corporate Update

Wellgreen Platinum Ltd. (TSX:WG) has provided an update on its steps to revitalize the direction of the company and the development of the Wellgreen PGM-Ni deposit  in Yukon, Canada.
According to the press release, these steps have included:

• Enhancement of the Board with three new appointees (including CEO Diane R. Garrett) and a fourth proposed nominee, Gillyeard Leathley, who is expected to be elected at the Company’s upcoming Annual General Meeting on September 27, 2016. The Board is now comprised of members with significant experience in the areas of Operations, Engineering, Geology, Finance, Legal, Corporate Governance, Capital Markets and Human Resources

• Completed a cornerstone investment by Electrum Opportunities Fund L.P. (“Electrum”), which now holds approximately 27% of the Company’s outstanding shares; another major shareholder, Resource Capital Fund (“RCF”), holds an additional 9% of the Company’s outstanding shares

• New management and streamlined organization optimized for the next stage of development of the Wellgreen Project and enhanced efficiency and effectiveness of project management and Corporate functions

• A broadened technical team with significant depth of expertise in metallurgy, project development and PGM and Nickel deposits

• Collectively, a team with proven, successful track records of developing projects and creating value for all stakeholders

Diane Garrett, President and CEO, commented, “The steps taken over the past several months have provided the foundation for the future development of the Wellgreen Project. With a fortified Board and new management with proven track records of successful project development, a strong technical team specialized in, and having worked on, some of the leading Nickel and PGM deposits in the industry, supported by the solid financial support from Electrum and RCF, we are well positioned to deliver value for our shareholders. I am pleased to present below the individuals working on our unique asset – one of the world’s largest undeveloped PGM-Ni deposits. Additionally, provided below is an update on the Company’s recent activities, as well as its plans over the near and medium term. I am very excited with the team we’ve assembled and the opportunities before us to unlock value at the Wellgreen Project which is truly unique in both scale and quality. We will continue to work toward de-risking the Wellgreen Project in order to efficiently and methodically advance the project to realize the full potential of this asset.”

Click here for the full press release.