Gold Candle Reports Annual General and Special Meeting Results and Additions to the Board

TORONTO, Nov. 7, 2024 /CNW/ - Gold Candle ("Gold Candle" or the "Company") announces that shareholders approved all resolutions at the annual general meeting of shareholders held on November 5 in Toronto, Ontario. All returning directors were re-elected including Michael Berns, Jaime Hartman, Ethan Benovitz, Ebe Scherkus, Louise Grondin, Geoffrey Belsher, Mark Wellings and Ross Sherlock. In addition, two new nominees were elected — Michael Jalonen and Hannes Portmann who have joined the Board as Independent Non-Executive Directors.

Michael Berns, Executive Chairman of Gold Candle commented: "On behalf of the Board, I am pleased to welcome Hannes and Michael to our expanded board of directors. We will be benefiting from their knowledge, industry experience and perspectives. We look forward to their guidance and support of our mission to increase shareholder value.''

About Michael Jalonen
Michael Jalonen had a 33-year career as a respected mine analyst, specializing in precious metals, with Bank of America Securities and was regularly ranked as a leading mining analyst in North America. Michael covered twenty companies in the North American gold and silver producer sector and five senior precious metal royalty and streaming companies. He created detailed operating and financial models with long-term forecasts for companies under coverage, which led to valuation analyses to estimate company asset values. He regularly published multiple industry thematic reports on M&A activity in the global gold sector. He holds a BSc (Honours) in Geology from the University of Windsor, an MBA from McMaster University and is a designated CFA.

About Mr. Hannes Portmann
Hannes Portmann currently serves as Chief Financial Officer at Cabot Management Company Limited, a role he has held since February 2022. From October 2019 to January 2022, Hannes served in the role of Chief Financial Officer & Business Development at Marathon Gold Corporation. Prior to Marathon Gold, he spent ten years with New Gold Incorporated, ultimately serving as President and Chief Executive Officer. Before New Gold, he was a member of the Merrill Lynch investment banking mining group and the assurance and advisory practices of PricewaterhouseCoopers LLP. Hannes is a Chartered Professional Accountant and holds a Bachelor of Science in Mining Engineering from Queen's University and a Masters of Management and Professional Accounting from the Rotman School of Management, University of Toronto.

Shareholders also appointed McGovern Hurley LLP as their auditor.

About Gold Candle
Gold Candle, a private company, has identified 1.8Moz of indicated and 3.4Moz of inferred gold resources at the iconic Kerr-Addison mine in northeastern Ontario, located 650km north of Toronto, Canada. The mine, part of the prolific Abitibi gold belt which extends eastward to Quebec, historically produced 11Moz of gold at an average grade of 9 g/t. It benefits from excellent infrastructure, including major highways, rail and air access, and is surrounded by other mining centres and operating gold mines.

SOURCE Gold Candle Ltd.

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