LA MANCHA RESOURCES ANNOUNCES CHANGES TO ITS BOARD OF DIRECTORS
NEWS RELEASE
Montréal, Québec, April 8, 2012
LA MANCHA RESOURCES ANNOUNCES CHANGES TO ITS BOARD OF DIRECTORS
La Mancha Resources Inc. (TSX: LMA, hereinafter "La Mancha" or the "Company") is
pleased to announce the appointment of three new Independent Directors to its
Board of Directors, effective immediately. Concurrently, the Company announces
the resignations of William Hess and Johanne Duchesne as directors of the
Company. The Board of Directors of La Mancha wishes to thank Mr. Hess and Ms.
Duchesne for their significant contribution to the Company over the last five
years.
The Company is delighted to welcome the new Independent Directors, each of whom
has solid experience in business and highly esteemed reputations.
François Lemarchand has developed an expertise as a financial advisor. He has
been an independent consultant in financial strategy and capital markets since
2009. Over 15 years he developed extensive experience in Corporate Finance and
Capital Markets by assuming various positions with National Bank of Canada, The
Bank of Nova Scotia and Lévesque Beaubien Geoffrion. Between 1996 and 2009, he
worked at Bombardier Inc. where he served as Senior Vice-President and Treasurer
from 2006 to 2009. Mr. Lemarchand holds a masters degree in economics from the
University of Montreal and is a Chartered Director from the Directors College.
He is active on the board of various not-for-profit organizations.
Jean Pierre Ouellet has a dual expertise in law and finance. He has been an
advisor to Capital Saint-Laurent, a venture capital fund, since 2008. During the
course of his career, he has held such positions as Senior Partner at the
Montréal law firm of Stikeman Elliott and Senior Vice-President, Chief Legal
Officer and Corporate Secretary of Canadian National Railway. More recently, he
served as Vice-Chairman of RBC Capital Markets with responsibility for Québec.
Mr. Ouellet has a master's degree in law from the University of Oxford and a
licentiate in laws from the Université de Montréal. As a corporate director, Mr.
Ouellet has sat on the boards of a number of Canadian publicly traded companies,
including Bionair, Hartco Enterprises, C-Mac and Crédit commercial de France
(Canada). He has also been a director of several non-profit organizations,
including the Montréal Economic Institute, the Macdonald-Stewart Foundation, the
RCGA Foundation, the Fondation du maire de Montréal and Club Mont-Royal. He is
also a member of the board of Caisse de dépôt et placement du Québec, where he
sits on the Human Resources Committee, and a member of the board of Noranda
Income Fund, and Chair of its Governance, Ethics and Human Resources Committee.
Mr. Ouellet is also a member of the Québec advisory councils of Talisman Energy
and of Birch Hill Equity Partners.
François R. Roy has extensive experience as a corporate director and executive
in the private and public sectors, at non-profit organizations and in academia.
He began his career at The Bank of Nova Scotia, where he held several positions
in Canada and the United States, and then worked for Société générale de
financement du Québec. Mr. Roy subsequently held the position of Chief Financial
Officer at Quebecor, Avenor and Telemedia Corporation. He has been a corporate
director since 1998 and sits on the boards of Transcontinental, Fibrek, Noranda
Income Fund, Capstone Infrastructure Corporation and Caisse de dépôt et
placement du Québec. He was also McGill University's Chief Financial Officer
from 2007 to 2010. Mr. Roy holds a Bachelor of Arts and a Master of Business
Administration from the University of Toronto. Over the past 25 years, he has
been and continues to be active with many not-for-profit organizations,
including the Montréal Museum of Fine Arts, the Canadian Centre for
Architecture, Vie des Arts magazine, the Opéra de Montréal and Collège Jean-
Eudes.
The Board of Directors has unanimously appointed Dominique Delorme as Chairman
of the Board of the Company and is delighted to announce the appointment of
François R. Roy as lead director.
"Collectively, these nominations bring invaluable transaction, finance and legal
depth, not to mention independence, to the Board of Directors and we know that
they will greatly contribute to strengthening the Company's position" said
Dominique Delorme.
All three new directors are considered to be independent within the meaning of
applicable securities laws. They were appointed as members of the Audit
Committee (of which Mr. Lemarchand is Chair) and the Corporate Governance and
Human Resources Committee (of which Mr. Ouellet is Chair) as well as members of
the Special Committee (of which Mr. Roy is Chair) that is currently conducting
an auction process for the Company. Mr. Ouellet was also appointed as member of
the Reserves and Resources Committee.
Furthermore, the Company's majority shareholder, Compagnie Française de Mines et
Métaux, a wholly-owned subsidiary of AREVA Mines, has reaffirmed its request to
the Company, as announced on March 14, 2012, to conduct an auction process
through which the Special Committee, with the assistance of its financial and
legal advisors, will analyze acquisition proposals in order to maximize value
for all shareholders.
ABOUT LA MANCHA RESOURCES INC.:
La Mancha Resources Inc. is an international gold producer based in Canada with
operations, development projects and exploration activities in Sudan, Côte
d'Ivoire and Australia. La Mancha's shares trade on the Toronto (TSX) under the
symbol "LMA". For more information on the Company, visit its website at
http://www.lamancha.ca/.
For additional information, please contact:
La Mancha Resources Inc.
Martin Amyot Nicole Blanchard
Vice President Corporate Development Investor Relations
Tel: (514) 987-5115 ext 25 (514) 961-0229
Email: info@lamancha.ca
LA MANCHA RESOURCES ANNOUNCES CHANGES TO ITS BOARD OF DIRECTORS:
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Source: La Mancha Resources via Thomson Reuters ONE
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