10:00 AM EDT, 06/24/2019 (MT Newswires) -- Detour Gold Corporation (DGC.TO) reports that COO Frazer Bourchier and Laurie Gaborit, VP Investor Relations, have both resigned their positions, effective June 30, 2019.

Bourchier entered into an agreement with DGC in March 2019 and was offered certain incentives for him to remain in his position as COO until June 30, 2019. Bourchier was offered the option to resign for "Good Reason", and to receive the immediate payment of all monies owning to him, provided that he remains with Detour until at least June 30th. Bourchier has exercised that option and has tendered his resignation, effective June 30th.

Gaborit also entered into an agreement with DGC in April 2019 that extended her option to resign following the deemed "Change of Control" of the company in December 2018, and to receive the immediate payment of all monies owing to her under her employment contract as a result of such resignation. She has exercised that option and has tendered her resignation, effective June 30th. The company has put in place a consulting agreement for her to provide ongoing IR support in the short term.

The approximate cost to the company of both resignations is approximately C$4.5 million, which will be taken as a one-off charge in Q2 2019.

Detour also reports that Jaco Crouse has now formally started in the position of Chief Financial Officer. He has over 16 years of experience in financial management and reporting, mine financial planning, business optimization and strategy development. At this time, DGC does not plan on filling the COO position. In addition, the company has made other management restructurings that will in total represent an annual saving of approximately C$4 million going forward.

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