LONGUEUIL, Quebec , June 25, 2020 (GLOBE NEWSWIRE) -- Stornoway Diamonds (Canada) Inc. (the "Corporation" or "Stornoway") announces that Mr. Patrick Godin and Ms. Annie Torkia Lagacé will be stepping down from their respective positions as President and Chief Executive Officer of the Corporation and Executive Vice President, Finance and Corporate Services. These changes will be effective as of June 26, 2020 .

Mr. Patrick Sévigny joined Stornoway in 2015 and is currently the Corporation’s Vice President Operations. He will succeed Mr. Godin and will assume the leadership of the company as Chief Operating Officer. Ms. Torkia Lagacé's responsibilities will be redistributed within the organization.

The departures of Mr. Godin and Ms. Torkia Lagacé are a further step in the rationalization exercise of the executive team which began in 2019 with the privatization of Stornoway. The Board of Directors, in collaboration with the Corporation’s shareholders, continues to work actively on streamlining the Corporation and an eventual restart of Renard mine operations as the diamond market recovers.

Hubert T. Lacroix , Chairman of the Board of Directors of Stornoway, commented on the announced changes: "Patrick first joined the Stornoway team in 2010 as Chief Operating Officer. It was largely due to his leadership that the construction of the Renard mine was completed ahead of schedule and under budget. Annie first joined Stornoway in 2014 as Vice President, Legal Affairs and has been given additional responsibilities over time to reflect her significant contribution to the organization. We would like to thank them both for their commitment to the company, its employees and all the stakeholders involved in this project. Pat and Annie will continue to support Stornoway's current executive team to ensure a transition through the end of 2020.

Patrick Godin commented: "I am very proud of the work we have accomplished as a team since 2010. The market meltdown has slowed our momentum, to my great disappointment. Nevertheless, we are the first diamond mine in Quebec ; we are an example of impact minimization and environmental performance; we are inclusive and respectful of the opportunity offered to us by the Crees and Jamesians to extract the resource together with them and we are innovative. I am confident in Patrick Sévigny’s abilities to lead the company and that the future of the mine and organization will improve as the diamond market recovers. I sincerely thank my colleagues and the Board of Directors for their trust and encouragement during my years at Stornoway. »

About Stornoway Diamonds (Canada) Inc.

Stornoway is a Canadian diamond exploration and production company headquartered in Longueuil , which owns a 100% interest in the Renard Mine . Stornoway is owned by Diaquem Inc. , Osisko Gold Royalties LTD, TF R&S Canada LTD and CDPQ Ressources inc.

For more information, please contact:
Sylvie Gervais (Vice President, Human Resources, Communications and Community Relations) sgervais@stornowaydiamonds.com

** Site Web : www.stornowaydiamonds.com Courriel : info@stornowaydiamonds.com **

Source : Stornoway Diamond Corporation

Source: Stornoway Diamond Corporation