Vanstar Postpones Filing of its Annual Financial Statements and Appoints Martin Nicoletti As CFO

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MONTREAL, May 01, 2020 (GLOBE NEWSWIRE) -- Due to the circumstances of Covid-19, the Company will postpone its annual financial statements and management report until or about June 1, 2020. The Company has a temporary exemption granted by the Autorité des Marchés Financiers (AMF) allowing issuers to extend by 45 days certain deadlines for filing continuous disclosure occurring during the period from March 23, 2020 to June 1, 2020.

Management and directors of the Company are subject to a policy of prohibiting insider transactions until late filings are completed, reflecting the principles set out in section 9 of national policy 11-207.

The Company would like to point out that only one significant element occurred since the filing of the interim financial statements filed on November 14, 2019 has taken place, which is the acquisition by Iamgold of an additional 24% interest in the Nelligan project during the month of December, as released on December 11, 2019.

Management also announces the departure of Mr. Michel Perron as CFO of the company. This function will now be occupied by Mr. Martin Nicoletti, chartered professional accountant with more than 31 years of experience holding a bachelor’s degree in business administration, accounting specialization. Mr. Nicoletti is also president of Corporation Financière SKTM Ltée and chief financial officer of several other mining companies.

The Company would like to sincerely thank Mr. Perron for all the work he has accomplished with the Company over the past twelve years, as well as for his sound advice on the corporate development of the Company. We all wish him a very long and happy retirement.

The Company also announces the departure for personal reasons of Mr. Eric Beauchêsne as director of the Company. We thank Mr. Beauchêsne for all his time given to the Company.

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