Broadway Announces New President and CEO
Vancouver, BC – May 4, 2018 – Broadway Gold Mining Ltd. (TSX-V: BRD) (OTCQB: BDWYF) (“Broadway” or the “Company”) is pleased to announce the appointment of Mr. Thomas A. Smeenk, BA, as President and Chief Executive Officer (“CEO”) of the Company, effective May 1, 2018. Mr. Duane Parnham will continue to serve as a director of the Company, providing strategic guidance and oversight.
Mr. Smeenk is a project finance, mineral exploration and business development executive with a proven track record of bringing new discoveries to market. He has been investing in the mining industry since 1996, serving as President and CEO of Tyranex Gold Inc. (“Tyranex”) and as President and CEO of IBI Corporation (“IBI”). During his tenure at Tyranex, Mr. Smeenk successfully financed and completed three exploration programs at the Tyranite Mine. At IBI, his accomplishments included financing the discovery of a world-class vermiculite mine in Uganda, which was subsequently sold to Rio Tinto.
Additionally, Mr. Smeenk’s background includes extensive experience in financing and business development as Vice President and President of e-Manufacturing Networks Inc. He also spent five years as President and Director of TheraVitae Inc. (now Hemostemix), a private stem cell therapy company where he successfully completed multiple financings, and took Astrix Networks Inc. (now Memex Inc.) public as its Vice President, Business Development.
“On behalf of the Board of Directors, I am pleased to welcome Thomas to the Broadway team. His experience in the mining industry, finance and business development will be instrumental in moving the company forward at a key time in our development. With the recent porphyry discovery at the Madison Project, Broadway is well positioned to pursue mineral resources, additional capital and potential partnerships under Thomas’s guidance,” said Steve Hanson, Chairman of Broadway Gold Mining Ltd. “We would also like to thank Duane for his contributions to date and look forward to his continued support and guidance as a key member of our Board.”
Broadway’s Board of Directors has granted Mr. Smeenk options to acquire 300,000 common shares for a period of five years at the closing price of May 2, 2018 (C$0.195). These options vest on the date that is the earlier of August 1, 2018 and the date that the Company completes a financing of C$1,500,000. Upon the close of a financing of C$1,500,000, the Board of Directors has also granted Mr. Smeenk options to acquire an additional 500,000 shares for a period of 10 years at the closing price of the Company’s common shares one day before the announcement of the completion of the financing. These options will vest according to a schedule determined by the Board of Directors at the time of such additional grant.
About Broadway Gold Mining Ltd.
Broadway Gold Mining Ltd. is a resource company focused on development-stage projects with advanced exploration potential. The company owns a 100% interest in the Madison copper-gold project located in the Butte-Anaconda mining region of Montana, USA. The Madison project is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished. While actively expanding known copper and gold zones that remain open for development in the mine’s perimeter, the company’s exploration program has identified new anomalies across its extensive land package that provide compelling drill targets that are believed to be associated with large-scale porphyry mineralization.
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This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release or other future plans, objectives or expectations of Broadway are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Broadway’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating commodity prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Broadway with securities regulators. Broadway expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. nor its regulation services provider (as that term is defined in the policies of The TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.