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Oct 18, 2016 11:05 AM EST
WG 0.43 +0.00
October 17, 2016
WGPLF 0.34 +0.00
Delayed by 20 minutes

Wellgreen Platinum Announces Appointment of Joe Romagnolo as CFO


VANCOUVER, Aug. 15, 2016 /CNW/ - Wellgreen Platinum Ltd. (TSX: WG; OTC-QX: WGPLF) ("Wellgreen Platinum" or the "Company") is pleased to announce that Mr. Joe Romagnolo has been appointed Senior Vice President and Chief Financial Officer of the Company.

Mr. Romagnolo is a Chartered Professional Accountant (CPA, CA) and earned his CA designation with PricewaterhouseCoopers.  He was most recently with OceanaGold Corporation and Romarco Minerals Inc. ("Romarco") holding the positions of Vice President & Controller, Interim CFO and Controller during his tenure since 2010.  Prior to that, Mr. Romagnolo was Corporate Controller of Centenario Copper Corporation.

Mr. Romagnolo has extensive experience in the mining sector and in all areas of external financial reporting, budgeting, compliance and implementation of financial reporting systems at all stages of a company's growth and development from exploration to construction and operations.  Mr. Romagnolo was responsible for the successful conclusion of over $500 million in equity financings at Romarco and integrally involved in its US$200 million project debt financing with a syndicate of international banks.  

Diane R. Garrett, President and CEO stated "I worked with Joe for six years during my tenure at Romarco and am thrilled to have him join the Wellgreen team.  His knowledge and experience with project debt and equity financing as well as implementation of accounting and financial systems will be a tremendous asset to the Company and all Wellgreen stakeholders as we continue our goal of transforming the Company and advancing one of the largest undeveloped PGM-Ni deposits in the world."

About Wellgreen Platinum

Wellgreen Platinum is a Canadian mining exploration and development company focused on the active advancement of its 100% owned Wellgreen PGM-Nickel Project located in the Yukon Territory of Canada.   The 2015 PEA demonstrated that the Wellgreen Project has the potential to become a large, low cost, open pit producer of platinum, palladium, gold, nickel, and copper. The Wellgreen property is accessible from the paved Alaska Highway, which leads to year-round deep sea ports in southern Alaska.

Cautionary Note Regarding Forward Looking Information: This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, is forward-looking information that involves various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, the Company's ability to maintain the support of stakeholders necessary to develop the Wellgreen PGM and nickel project, unanticipated environmental impacts on operations and costs to remedy same, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the key assumptions, risks and challenges with respect to the forward looking information discussed herein, and about our business in general, investors should review the 2015 PEA technical report on the Wellgreen PGM and nickel project, our most recently filed annual information form, and other continuous disclosure filings which are available at Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws.

SOURCE Wellgreen Platinum Ltd.

Wellgreen Platinum Contacts: Diane Garrett, President & Chief Executive Officer, 1-604-569-3690, [email protected], [email protected]