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Orefinders revamps Mistango board

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Orefinders revamps Mistango board

Orefinders Resources Inc. said Oct. 22 that it elected its slate of directors to the board of Mistango River Resources Inc., potentially ending a bitter dispute.

Since acquiring a 31% stake in Mistango, Orefinders has called out Mistango's former board due to its alleged underperformance, particularly in developing the Omega gold project in Ontario.

In September, the last two directors of Mistango decided to leave following the adjournment of a shareholder vote.

Orefinders said Mistango's new board, which comprises Stephen Stewart, Alexander Stewart, Charles Beaudry and Gautam Narayanan, was confirmed during Mistango's annual general meeting on Oct. 1.

According to Orefinders, Mistango's new board will communicate directly with Mistango shareholders for its near-term plans.