Wellgreen Platinum Announces Results of 2016 Annual General and Special Meeting

VANCOUVER, Sept. 28, 2016 /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 "AGM") that was held Tuesday, September 27, 2016.

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

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

The seven directors of the Company elected at the AGM are: Michele S. Darling, Mark Fields, Diane R. Garrett, Wayne Kirk, Gillyeard Leathley, Myron G. Manternach, and Mike Sylvestre.  Votes for these seven directors were cast as follows:

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

Diane R. Garrett, Wellgreen Platinum's President and CEO stated, "We are pleased with the level of shareholder support demonstrated by this year's AGM results.  We look forward to welcoming Gillyeard Leathley to the Board and continuing to work with the team we've assembled and the opportunities before us to unlock value at the Wellgreen Project which is truly unique in both scale and quality."

About Wellgreen Platinum

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

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, is forward-looking information that involves 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 about our business in general, investors should review the 2015 PEA 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.