Cartier Resources Inc.
TSX VENTURE : ECR

Cartier Resources Inc.

May 24, 2011 10:52 ET

Cartier Resources Inc. Announces the Results of the Annual General Meeting

VAL-D'OR, QUEBEC--(Marketwire - May 24, 2011) - Cartier Resources Inc. (TSX VENTURE:ECR) (the " Company") announces that during its annual general special meeting held on May 20th, 2011, the shareholders voted at 100% in favour to re-elect the directors of the Company:

  • Philippe Cloutier

  • Michel Gilbert

  • Mario Jacob

  • Jean Carrière

  • Daniel Massé

The shareholders also voted at 99.75% in favour for the continuance of the Stock Option Plan:

The proposal to maintain the stock option plan as presented in the Management Information Circular was approved by the shareholders at the annual general meeting. The proposal allows the Company to grant a number of stock options representing a maximum of 10% of the shares outstanding (on a non-diluted basis).

After the meeting, a member of the first nations of the Lac Barrière community expressed that a group of his community is opposed to the mining exploration and the forest industry activities on the territory claimed by its community and that they had informed the Government of their position.

Following the annual meeting, the Board of Directors named the officers of the Company:

  • Philippe Cloutier, President and Chief Executive Officer;

  • Jean-Yves Laliberté, Treasurer and Chief Financial Officer;

  • Mario Jacob, Secretary.

On May 20th, 2011, the Board of Directors awarded a total of 675,000 stock options to directors and officers. Pursuant to the terms of the Company's stock option plan, each option grants the holder of such option the right to purchase a common share of the Company at a price of $0.45 per share no later than May 19th, 2016.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Philippe Cloutier
    President and CEO
    Cartier Resources Inc.
    (819) 874-1331 / Toll free: 877 874-1331
    (819) 874-3113 (FAX)