17 June 2016
June 17, 2016
TORONTO, CANADA – Northquest Ltd. (TSX.V-NQ) (FWB-N3Q) (“Northquest” or “the Company”) announces that, following the initial take-up by Nord Gold SE (“Nordgold”) of common shares under its take-over bid (the “Offer”) for all of the outstanding common shares of Northquest (the “Common Shares”) and pursuant to the previously announced support agreement between the Company and Nordgold dated May 26, 2016 relating to the Offer, Dr. Jon North has resigned as Chief Executive Officer of the Company and Ms. Sofia Tsakos has resigned from the board of directors of the Company (the “Board”). Mr. Andrew Matthews has also resigned from the Board. Northquest thanks Dr. North and Ms. Tsakos for their contribution to the Company since their appointments in 2008 and wishes them the best in their future endeavours.