Golden Valley Mines Announces Annual Meeting Results
June 26, 2015
Val-d’Or, Québec – June 26, 2015 – Golden Valley Mines Ltd. (“Golden Valley” or the “Company”) (TSX-V:GZZ) announces the results of its annual and special meeting of shareholders held in Montréal, Québec, on June 25, 2015.
At the meeting, shareholders re-elected four incumbent directors, being John S. Caldbick, Joseph Groia, Glenn J. Mullan and Dr. C. Jens Zinke, and shareholders also elected as a director Avril Cole, a nominee of management. Blair F. Morton and Chad Williams, who served as directors of Golden Valley from August 2000 and March 2011, respectively, did not stand for re-election. The Board of Directors extends sincere thanks to Mr. Morton and to Mr. Williams for their contributions to Golden Valley during the years they served as directors and welcomes Ms. Cole to the Board.
Golden Valley’s Board of Directors is comprised of a majority of independent directors.
Shareholders also reappointed the Company’s incumbent auditor, Raymond Chabot Grant Thornton LLP, Chartered Accountants, and approved, ratified and confirmed by disinterested vote the adoption and implementation of a new 2015 Stock Option Incentive Plan, which replaces, subject to TSX Venture Exchange acceptance, the previously adopted stock option plan. The aggregate number of common shares issuable under the 2015 Plan will not, at any given time, exceed 19,006,732 common shares representing 20% of Golden Valley’s issued and outstanding common shares on May 15, 2015, the record date for the June 25th shareholder meeting. The 2015 Plan will be implemented by the Board upon receipt of acceptance of the 2015 Plan by the TSX Venture Exchange.
Following the shareholder meeting, the Board reconstituted its Committees and reappointed officers for the ensuing year as follows:
|Chair, President & Chief Executive Officer:||Glenn J. Mullan|
|Lead Director:||Joseph Groia|
|Chief Financial Officer & Corporate Secretary:||Annie Karahissarian|
|Vice President, Exploration:||Michael P. Rosatelli|
About Golden Valley Mines Ltd.: The Company typically tests initial grassroots targets while owning a 100% interest therein and then seeks partners to continue exploration funding. This allows the Company to carry on its generative programs and systematic exploration efforts at other majority-owned grassroots projects. The Company (together with its various subsidiaries) holds multiple property interests in gold, base-metal and energy mineral projects in Canada (Québec, Ontario and Saskatchewan).
For additional information, please contact:
Glenn J. Mullan
Chairman, President, and CEO
Golden Valley Mines Ltd.
152, chemin de la Mine École
Val-d’Or, Québec J9P 7B6
Telephone: 819.824.2808 ext. 204
Forward Looking Statements:
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.