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Deborah Friedman Joins Golden Minerals’ Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Golden Minerals Company (AUMN) announced the appointment of Deborah Friedman to its board of directors, effective December 9, 2021. Ms. Friedman will also serve on the Audit and Corporate Governance Committees. Her experience includes serving as general counsel for Golden Minerals from 2009 to 2015 and extensive expertise in corporate finance and governance. The addition increases the board's independent members to seven out of eight. Chairman Jeffrey Clevenger expressed confidence in Friedman’s experience to enhance the company's operations as it aims for cash flow growth from its mines.
Positive
Deborah Friedman's extensive experience in corporate governance and the mining industry is expected to enhance board effectiveness.
Addition of Friedman increases independent board members, which may improve corporate governance.
Fresh perspective may lead to strategic advantages as the company aims for increased cash flow from its operations.
Negative
Possible concerns regarding continuity in leadership as Friedman transitions back to the board after several years.
GOLDEN, Colo.--(BUSINESS WIRE)--
Golden Minerals Company (“Golden Minerals” or the “Company”) (NYSE American: AUMN and TSX: AUMN) announced today that Deborah Friedman has been appointed to serve on the Company’s board of directors, effective December 9, 2021. She will serve as a member of the Audit Committee and the Corporate Governance and Nominating Committee of the board of directors. Following Ms. Friedman’s appointment, the board is comprised of eight directors, seven of whom are independent as defined by the NYSE American.
Ms. Friedman is a retired partner currently serving as senior of counsel at Davis Graham and Stubbs, LLP (“DGS”), a law firm based in Denver, Colorado, where her practice has focused primarily on corporate finance, securities, corporate governance, and domestic and international mergers and acquisitions matters for both publicly traded and privately held companies, with specific expertise in the mining industry. She previously served as senior vice president, general counsel and corporate secretary for Golden Minerals between 2009 and 2015 under an arrangement whereby she split her time between Golden Minerals and DGS. From 2007 to 2009 Ms. Friedman served as senior vice president, general counsel and corporate secretary of Apex Silver Mines Limited, predecessor to Golden Minerals. Prior to DGS she spent 16 years working in varied positions in the legal departments of Cyprus Amax Minerals Company and AMAX Gold Inc. She has served on the board of directors of Vista Gold (NYSE American: VGZ and TSX: VGZ) since March 2019.
Jeffrey Clevenger, Chairman of the Board of Directors for Golden Minerals, commented, “We enthusiastically welcome Deborah back to the Golden Minerals team and feel fortunate to have the benefit of her vast experience, notably as the Company moves forward into 2022 with the benefit of Rodeo cash flow and the potential for additional cash flow from Velardeña.”
About Golden Minerals
Golden Minerals is a growing gold and silver producer based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine and advancing its Velardeña Properties in Mexico and, through partner funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, including statements regarding future cash flows. These statements are subject to risks and uncertainties, including the overall impact of the COVID-19 pandemic, fluctuations in silver and gold prices, and declines in general economic conditions. Golden Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the SEC by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
