Channel Resources Ltd.

Channel Resources Ltd.

June 26, 2013 18:19 ET

Channel Resources Appoints Archie Nesbitt Non-Executive Chairman

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 26, 2013) - Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:CHU) is pleased to announce the appointment of Archibald J. Nesbitt as Non-Executive Chairman of the Board.

Mr. Nesbitt, who has served on the board of Channel Resources Ltd. since January 24, 2012, has a Bachelor of Laws Degree from the University of Western Ontario (1976) and a Bachelor of Commerce (Honours) Degree from Queen's University (1973). He has been an active member of the Law Society of Alberta since 1978. Mr. Nesbitt has been a founding member or senior officer and director of a number of internationally active publicly traded mining companies. He has been active in the mining industry since 1969 and currently serves as Chief Executive Officer of Marksmen Energy Inc.

Results of 2013 Annual and Special General Meeting

Channel also reports that at its annual general meeting of shareholders held on June 26, 2013, shareholders of the Company approved all resolutions proposed by the board of directors. The board of directors of Channel has been reduced from seven individuals to five, and is comprised of Archibald J. Nesbitt (Chairman), Colin H. McAleenan, Richard Schroeder, Jean-Marc Lulin and Richard Schutte. Other resolutions approved include the appointment of Ernst and Young, LLP, Chartered Accountants, as auditors of the Company for the ensuing year, the authorization of management to fix the auditors' remuneration, the Company's stock option plan, and the ratification of the Company's advance notice policy first announced on April 24, 2013.

A total of 31,800,419 common shares in the capital of the Company were voted at the meeting, representing 26.64% of the total shares issued and outstanding.

Neither 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 release.

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