SYS-CON MEDIA Authors: Greg Ness, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

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
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
SYS-CON Media announced today that Skytap blog on "DevOps Journal" exceeded 84,000 story reads. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Noel Wurst is the managing content editor at Skytap. Skytap provides SaaS-based dev/test environments to the enterprise. Skytap solution removes the inefficiencies and constraints that comp...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to th...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happe...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...