VANCOUVER, July 9 /CNW/ - Nanika Resources Inc. (TSX-V: NKA and FSE: C7X) announces results of the 2010 Annual General Meeting of Shareholders that was held on Friday July 9, 2010 in Vancouver, British Columbia. We are pleased to announce that the shareholders of the Company have approved all of the resolutions brought before them by management. The following management nominees were re-elected directors of the Company: James Jacuta, Ross Blusson, Howard Bird, John Busswood, and Chad Boyko. Approved at the meeting as well were Davidson and Company LLP, Chartered Accountants who were re-appointed as the external auditor. Approval was also provided for the Company stock option plan.
The board of directors of Nanika has held a meeting subsequent to the annual meeting and has established several board committees, among which is the audit committee composed of three directors with a majority of directors being independent. The board also granted incentive stock options to purchase up to two million shares in the capital of the company at a price of $0.05 per share to officers, directors, and consultants. The grant of stock options is for a term of five years and shall vest immediately pursuant to the vesting provisions, and terms and conditions of the company's stock option plan.
About Nanika Resources Inc.
Nanika Resources Inc. is a TSX Venture listed mineral exploration and development company focusing on the advancement of its mineral properties, all of which are located within Canada.
On Behalf of the Board,
James D. Jacuta,
Chairman, President and CEO.
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SOURCE NANIKA RESOURCES INC.
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