– CANADA, Vancouver – New Gold Inc. (TSX:NGD)(NYSE:NGD) today announces new appointments to its senior management team as the company looks forward to the Rainy River project’s scheduled transition from construction into operation beginning in September. New Gold is also pleased to announce the addition of a new director to its Board.
Paula Myson will join New Gold as Executive Vice President and Chief Financial Officer
Peter Woodhouse will join New Gold as Vice President, Projects
Barry O’Shea has been appointed Vice President, Business Development
Marilyn Schonberner has been appointed to the Board of Directors
Brian Penny, New Gold’s current Executive Vice President and Chief Financial Officer, will remain with the company until the end of October to support the transition
Raymond Threlkeld’s interim management role will conclude on September 1st and he will remain on New Gold’s Board of Directors
As Hannes Portmann, New Gold’s President and Chief Executive Officer, builds out the company’s leadership team, and with Rainy River scheduled to transition into operation beginning in September, Paula Myson will join New Gold in late August to lead the company’s financial team as Executive Vice President and Chief Financial Officer and Peter Woodhouse will join New Gold in mid-August as the Vice President, Projects.
Ms. Myson has over 25 years of experience in finance, treasury, corporate development, investor relations and risk management in public companies. During her 23 years working with the Sherritt International group of companies, Ms. Myson held multiple senior roles, including: CFO Oil and Gas, Corporate Treasurer, CFO Power, and Director, Corporate Development. Most recently, she was Vice President, Finance at Callidus Capital Corporation, a specialty lender.
Mr. Woodhouse has over 30 years of experience in engineering and project management, dedicated primarily to the development of mining infrastructure. Over his career, he has been responsible for all aspects of project management, team development and project execution, through all project phases, from scoping study through commissioning. Most recently, he was Vice President, Projects at Centerra Gold where he was responsible for overall capital projects development. From 1997 to 2014, Mr. Woodhouse was the principal of Technology Management Group Inc., an engineering and project management company. Mr. Woodhouse has also held senior project management roles for Canada Lithium, Hatch, SNC Lavalin, and Xstrata Nickel.
“We are delighted to welcome Paula and Peter to our team. Paula’s extensive experience in mining and her strong financial and executional skillset will both complement and enhance the capabilities of New Gold’s leadership team,” stated Mr. Portmann. “In addition, Peter’s engineering and project management experience will be a great asset for the company as he leads the advancement of our various organic growth initiatives, including the Blackwater project and the C-zone at New Afton.”
In connection with these management changes, Barry O’Shea, the Vice President, Finance of the company, has been appointed Vice President, Business Development. In his new role, Mr. O’Shea will take on responsibility for corporate development, investor relations and strategic capital allocation, and he will also support Ms. Myson’s transition into the Chief Financial Officer role.
New Gold is also pleased to announce the appointment of Marilyn Schonberner to its Board of Directors. Marilyn is the Chief Financial Officer and Senior Vice President, and an Executive Director, of Nexen Energy ULC. In that role, she is responsible for the overall financial management of Nexen, including accounting, audit, tax, planning, treasury and insurance. Ms. Schonberner joined Nexen in 1997 and since that time has held positions of increasing responsibility including General Manager of Human Resources Services, Director of Corporate Audit, Director of Business Services U.K., and Treasurer and Vice President of Corporate Planning. Prior to joining Nexen, she spent over 15 years in finance, strategic planning and organization development in the energy sector and as a consultant.
“We are pleased to welcome Marilyn to the Board,” stated Ian Pearce, Chair of the Board. “She is highly qualified, with a strong background in finance, accounting, tax and treasury. We believe that Marilyn will add considerable value and strength to our Board.”
Brian Penny, New Gold’s current Executive Vice President and Chief Financial Officer, will remain with New Gold until October 31, in order to support a smooth transition of responsibilities to Ms. Myson. Mr. Penny has been the Chief Financial Officer of New Gold since its business combination with Western Goldfields in 2009. In that time, he has played a leadership role in numerous successful transactions, including the company’s sale of the El Morro stream, successful equity offering and bond refinancing, and credit facility extension earlier this year, which have positioned the company well to fund the remaining capital expenditures at the Rainy River project.
With the addition of Mr. Woodhouse in mid-August and the planned start-up of Rainy River in September, Raymond Threlkeld will step away from his interim daily management responsibilities, which primarily focused on supporting Rainy River’s development, effective September 1, 2017. Mr. Threlkeld will remain on the Board and continue to provide his support and knowledge to the operations and projects teams going forward.
“I would like to thank Brian for all that he has done to contribute to New Gold’s success over the last eight years. He has been a wonderful business partner and friend over many years and we wish him nothing but success in his future endeavours,” stated Mr. Portmann. “On behalf of our team, I would also like to thank Ray for stepping into the Interim Chief Operating Officer role at a critical time in the development of Rainy River.”
About New Gold Inc.
New Gold is an intermediate gold mining company. The company has a portfolio of four producing assets and two significant development projects. The New Afton Mine in Canada, the Mesquite Mine in the United States, the Peak Mines in Australia and the Cerro San Pedro Mine in Mexico (which transitioned to residual leaching in 2016), provide the company with its current production base. In addition, New Gold owns 100% of the Rainy River and Blackwater projects located in Canada. New Gold’s objective is to be the leading intermediate gold producer, focused on the environment and social responsibility.
For more information : http://www.newgold.com
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