VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 17, 2014) - Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINKSHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that its Annual General Meeting of shareholders was held in Vancouver, British Columbia on April 15, 2014 at which:
- the incumbent directors of the Company standing for re-election, being Akiko Levinson, Quinton Hennigh and Ron Schmitz, were all re-elected as directors of Gold Canyon for the coming year;
- three proposed new nominee directors, Julie Desjardins, Peter Levinson and Jayant Bhandari, were elected as directors of Gold Canyon for the coming year;
- Davidson & Company, the incumbent auditors of the Company, were re-appointed auditors of Gold Canyon for the coming year;
- in accordance with the policies of the TSX Venture Exchange, the Company's newly adopted 5% rolling stock option plan (the "Option Plan"), as more fully described in the Company's news release of March 11, 2014, was ratified by the shareholders of the Company for the coming year; and
- the Advance Notice Policy, as more fully described in the Company's news release of February 20, 2014, was approved by the shareholders of the Company.
Julie Desjardins, CPA, CA, has over 20 years of business consulting experience. She is President of Desjardins & Associates Consulting Inc., a company dedicated to performance measurement and business reporting, including sustainability reporting. Ms. Desjardins is on the boards of Transparency International Canada, Responsible Investment Association and Forests Ontario. She is the recipient of two Governor General of Canada medals for dedication to community service.
Peter Levinson, J.D., B.A., was a Partner at Lonestar Capital Management in San Francisco until November 2013. Mr. Levinson has approximately 20 years of experience in the securities industry, primarily as a distressed debt trader. Mr. Levinson briefly practiced law for the firm of Howard Rice Nemerovsky Canady Falk & Rabkin (now Arnold & Porter LLP). He received his J.D. from Stanford University and a B.A. from Connecticut College.
Jayant Bhandari, MBA, B.Eng (Computer Science), has been an Asian-based institutional investor adviser for the last three years. Prior to that he worked for six years with US Global Investors in the United States, a boutique natural resource investment firm, and for one year with Casey Research. Prior to his involvement in the investment industry he established and managed Indian subsidiary operations of two European companies. He received his MBA from Manchester Business School (UK) and holds a Bachelor of Engineering from SGSITS (India). He frequently writes on cultural, political and social issues in several publications.
Conrad Pinette, Troy Fierro, Richard Hall and Terrence Lyons, did not stand for re-election. The Company wishes to thank each of them for their guidance and insight over the last few years and wishes them all the very best.
Akiko Levinson states, "We are delighted to welcome Ms. Desjardins and Messrs. Bhandari and Levinson to the board of Gold Canyon. Their collective expertise will help with aspects of permitting, politics and financing that will be necessary to move the Springpole Gold Project forward. The Company's recommendation and shareholders' approval to reduce to a 5% rolling stock option plan from a 10% rolling stock option plan demonstrates Gold Canyon's commitment to minimizing dilution to shareholders."ΓÇï
The Company further announces that pursuant to the Company's Option Plan, it has granted incentive stock options to its directors, officers, employees and consultants to purchase an aggregate of 2,250,000 common shares. The stock options have a term of three (3) years, subject to one-third vesting of the grant every six (6) months from grant day with full vesting in the first 18 months of the term, and have an exercise price of $0.31 per share.
About Gold Canyon Resources Inc.:
Gold Canyon is engaged in the acquisition and exploration of mineral and precious metals properties. The Company controls a 100% interest in the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and a minority interest in the Favourable Lake Poly-metallic property currently under option to Guyana Frontier Mining Corp. pursuant to an option and joint venture agreement entered into in December 2005 - all in the Red Lake Mining District of Ontario, Canada.
Gold Canyon entered into a Rare Earth Element (REE) Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.
Additional information can be found on the Company's website: www.goldcanyon.ca.
Akiko Levinson, President & Director
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.