VANCOUVER, Jan. 14, 2014 /CNW/ - Western Pacific Resources Corp. ("Western Pacific" or the "Company") (WRP - TSXV) is pleased to announce the voting results at the Company's annual and
special meeting held today.
Shareholders voted overwhelmingly in favour of all matters brought
before the meeting including the appointment of auditors for the
ensuing year; the election of management's nominees as directors; and
approval of the Company's stock option plan, advance notice policy, and
the convertible note financing with Quintana Minerals Corporation.
Warwick Smith, the Company's CEO, said: "We are very pleased that our
shareholders have approved the transaction with Quintana. We are
looking forward to getting to work at the Deer Trail Mine and moving
Western Pacific forward."
About Western Pacific Resources Corp.
Western Pacific is focused on advancing a strong portfolio of projects
in the Western United States, including the Deer Trail Mine in Piute
County, Utah. Western Pacific's team is led by technical and financial
experts who aim to succeed in creating shareholder value. For more
information, please visit our website at www.westernpacificresources.com.
About Quintana Minerals Corporation
Quintana Minerals Corporation ("QMC") is the management company for a
portfolio of energy and natural resources-based private and
publicly-traded companies controlled and/or operated by the Corbin J.
Robertson Jr. family. The company was formed in 1963 as a division of
Quintana Petroleum Corp. and has actively developed and operated
precious and industrial metals/minerals projects throughout the
Americas. The following are examples of some the group's on-going
ventures: Natural Resource Partners L.P., a publicly traded MLP (NYSE:
NRP); Great Northern Properties L.P., a private company that holds over
22 billion tons of coal reserves; Corsa Coal Corp., a publicly traded
junior mining company (TSXV: CSO); Quintana Energy Partners, L.P., an
energy-focused private equity fund; and Quintana Shipping Ltd., the
group's 2nd dry bulk shipping venture. For more information please contact Oliver
Rodz, Managing Director of QMC, 601 Jefferson Street, Suite 3600,
Houston, Texas 77002 (tel: 713-751-7500).
ON BEHALF OF THE BOARD
Warwick Smith, Chief Executive Officer
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.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements within the meaning of Canadian securities
legislation. Forward-looking statements contained in this news release
include, without limitation, statements in respect of the closing of
the DTM Acquisition, the closing of the proposed Financing and future
payments and purchases of Base Metals pursuant to the Streaming
Transaction with Quintana. These statements relate to future events,
business prospects or opportunities and product development. All such
statements other than statements of historical fact are forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect, "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should",
"believe" and similar expressions. The Company believes that the
expectations reflected in those forward-looking statements are
reasonable, but no assurance can be given that these expectations will
prove to be correct and such forward-looking statements should not be
unduly relied upon. Actual results and developments may differ, and may
differ materially, from those expressed or implied by the
forward-looking statements contained in this news release.
Forward-looking statements involve known and unknown risks,
uncertainties, assumptions of management and other factors that may
cause actual results or events to differ materially from those
anticipated in such forward-looking statement, including but not
limited to: (a) the conditions to closing of the DTM Acquisition not
being met; (b) the Company being unable to meet the milestones for
purchases of Secured Notes under the Investment Agreement; (c) the
Company being unable to obtain final TSXV approval of the Financing or
Streaming Transaction; (d) the Company being unable to raise additional
fund to finance the development of the DTM Project; (e) the Company
being unable to comply with the conditions to advances to the Upfront
Payment under the BMPA; (f) risks associated with the results of
exploration activities, the interpretation of drilling results and
other geological risks, estimation of mineral resources and the
geology, grade and continuity of mineral deposits, project cost
overruns or unanticipated costs and expenses; and (g) such other risks
detailed from time-to-time in the Company's quarterly and annual
filings with securities regulators and available under the Company's
profile on SEDAR at www.sedar.com.
Although the Company believes that the expectations conveyed by the
forward-looking statements are reasonable based on the information
available to it on the date such statements were made, no assurances
can be given as to future results, approvals or achievements. Such
forward-looking statements have been made for the purpose of assisting
investors in understanding the Company's business, financial and
operational performance and plans and may not be appropriate for other
purposes. The forward-looking statements contained in this news
release are expressly qualified by this cautionary statement. The
Company disclaims any duty to update any of the forward-looking
statements after the date of this news release to conform such
statements to actual results or to changes in the Company's
expectations except as otherwise required by applicable law.
SOURCE: Western Pacific Resources Corp.
For further information:
Erin Ostrom 604-692-2891
Suite 902-555 Burrard Street
Canada V7X 1M8