Wellgreen Platinum Announces Results of 2015 Annual General Meeting

TSX:  WG
OTC-QX:  WGPLF

VANCOUVER, Sept. 25, 2015 /CNW/ - Wellgreen Platinum Ltd. (TSX: WG; OTC-QX: WGPLF) is pleased to announce the voting results of its annual general and special meeting of shareholders (the "2015 AGM") that was held Friday, September 25, 2015. As with last year, shareholder participation at the 2015 AGM was very strong, with approximately 52% of our outstanding shares having been voted at the 2015 AGM.

The following business items were all approved at the 2015 AGM by the requisite majority of shareholder votes cast at the meeting:

• setting the size of the Board at five;
• electing each of the management-nominated directors;
• appointing the Company's auditor; and
• amending the share-based compensation plan.

The five directors of the Company elected at the 2015 AGM are: Michele S. Darling, Wesley J. Hall, Greg Johnson, Myron G. Manternach, and Mike Sylvestre.  At the 2015 AGM, votes for these five directors were cast as follows:

In addition, the resolution approving amendments to the warrants held by certain insiders of the Company that were originally granted to such insiders on June 20, 2013 was approved by the requisite majority of disinterested shareholder votes cast at the 2015 AGM. The special resolution authorizing the creation of a new class of preferred shares was approved by the requisite two thirds majority of shareholder votes cast at the meeting, and as a result, the Company will be amending its articles and notice of articles to create a new class of preferred shares.

Following the 2015 AGM, Wellgreen Platinum's Board of Directors appointed Myron Manternach, a director of the Company since July 10, 2012, as Chairman of the Board.

Greg Johnson, Wellgreen Platinum's President and CEO stated, "We are pleased with the level of shareholder participation at this year's AGM.  We welcome Michele Darling to the Company's Board of Directors and look forward to working with her as we strive to realize the potential of our promising Wellgreen PGM and nickel deposit. We would also like to thank Jeffrey Mason for his dedication and support during his time as a director of the Company. We look forward to continuing to work with Jeffrey and rely on his experience and expertise in his role as Chief Financial Officer of Wellgreen Platinum."

About Wellgreen Platinum

Wellgreen Platinum is a Canadian mining exploration and development company focused on the active advancement of its 100% owned Wellgreen platinum group metal (PGM) and nickel project.  Located in the Yukon Territory, Canada, a 2015 Preliminary Economic Assessment (the "2015 PEA") demonstrated that the Wellgreen PGM and nickel project has the potential to become a large, low cost open pit producer of platinum, palladium, gold, nickel, and copper.  The Wellgreen property is accessible from the paved Alaska Highway, which leads to year-round deep sea ports in southern Alaska.

The Company is led by a management team with a track record of successful large scale project discovery, development, financing and operation.  Our vision is to create value for our shareholders through development of the Wellgreen deposit into a leading North American PGM and nickel producer.

Cautionary Note Regarding Forward Looking Information:  This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, including, without limitation, regarding the results of the 2015 PEA, future exploration and development of the Wellgreen PGM and nickel project, realization of the potential of the Wellgreen PGM and nickel deposit, the active advancement of the Wellgreen PGM and nickel project, and general future plans and objectives for the Company and the Wellgreen PGM and nickel project,are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, the Company's ability to maintain the support of stakeholders necessary to develop the Wellgreen PGM and nickel project, unanticipated environmental impacts on operations and costs to remedy same, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the key assumptions, risks and challenges with respect to the forward looking information discussed herein and of our business in general, investors should review our most recently filed technical report on the Wellgreen PGM and nickel project, our most recently filed annual information form, and other continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws.

SOURCE Wellgreen Platinum Ltd.