Resolute Performance Fund Requisitions Shareholders Meeting of Wesdome Gold Mines Ltd.

TORONTO, Aug. 9, 2013 /CNW/ - Resolute Performance Fund ("Resolute"), an investment fund managed by Resolute Funds Limited, announced today that it has requisitioned a special meeting of shareholders of Wesdome Gold Mines Ltd. (the "Corporation") pursuant to section 105 of the Business Corporations Act (Ontario). The purpose of the meeting is to reconstitute the board of directors of the Corporation through the removal of each of the incumbent directors of the Corporation other than William Bawden, JP Chauvin and Hemdat Sawh and to fill the vacancies created by that removal as well as any existing vacancies through the appointment to the board of six directors nominated by Resolute.

Resolute is the registered holder of 19,324,000 shares of the Corporation representing approximately 18.98% of the Corporation's outstanding shares.

Resolute believes that holding the requisitioned meeting of shareholders as promptly as possible is in the best interests of the Corporation, its employees, shareholders and other stakeholders.  Resolute has requested the meeting be held as soon as possible, and in any event, by no later than October 9, 2013.

About Resolute Performance Fund and Resolute Funds Limited

Resolute Funds Limited, a Toronto-based investment management firm, is the investment manager of the Resolute Performance Fund, the sole fund it manages.  The Resolute Performance Fund is an open-end investment trust that began operations on June 2, 2005.  The objective of the Fund is to provide superior investment returns over the long term by investing primarily in Canadian equity securities with growth potential.  Tom Stanley is the President and Chief Investment Officer of Resolute Funds Limited.  Mr. Stanley previously managed the Resolute Growth Fund, a Canadian public mutual fund, from December 3, 1993 to June 2, 2006.

Forward-Looking Statements

Certain statements in this press release contain forward-looking information within the meaning of applicable securities laws in Canada ("forward-looking information").  The forward-looking information in this press release includes, but is not limited to: the replacement of the Corporation's current directors named herein; and the timing and holding of the special meeting of shareholders of the Corporation.

In connection with the forward-looking information contained in this news release, Resolute has made numerous assumptions. While Resolute considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the special meeting of shareholders of the Corporation may not be held as currently anticipated, or at all; and the Corporation's current directors named herein may not be replaced.

All forward-looking information in this press release is qualified in its entirety by this cautionary statement and, except as may be required by law, Resolute undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise after the date hereof.

SOURCE: Resolute Funds Limited

please contact Tom Stanley, President and Chief Investment Officer, Resolute Funds Limited, at [phone] or [email protected].