Galway Metals Inc.
TSX VENTURE : GWM

Galway Metals Inc.

June 17, 2015 17:29 ET

Galway Metals Inc. Announces Amendments to Its By-Laws to Include Enhanced Qualification Criteria for Nominee Directors

TORONTO, ONTARIO--(Marketwired - June 17, 2015) - Galway Metals Inc. (TSX VENTURE:GWM) ("Galway" or the "Corporation") advises that the board of directors (the "Board") of the Corporation have approved certain amendments to its Second Amended and Restated By-Law Number 1 ("Amended By-Law") to enhance the qualification criteria of directors by including enumerated provisions that, if not satisfied, would disqualify individuals from acting as directors of the Corporation. Such provisions include, but are not limited to, a history of self-regulatory organization offences and criminal court actions. Galway believes a failure to meet such standards is tantamount to engaging in conduct unbecoming or detrimental to the public interest and it would therefore be damaging to the interests of the Corporation and the interests of shareholders of the Corporation to appoint or elect such individuals to the Board.

The Amended By-Law is effective immediately, subject to regulatory approval. In addition, shareholders of Galway will be asked to ratify and confirm the Amended By-Law at the next meeting of shareholders of Galway to be held this summer.

CAUTIONARY STATEMENT: 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 of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements made herein with respect to, among other things, the Corporation's objectives, goals or future plans, potential corporate and/or property acquisitions, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental, regulatory, exchange, shareholder or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Corporation's public disclosure documents filed on SEDAR. Although the Corporation believes that management's assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Corporation will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management's expectations, financing will be available to the Corporation on favourable terms when required, and commodity prices and foreign exchange rates will remain relatively stable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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