VANCOUVER, July 16, 2013 /CNW/ - Canyon Copper Corp. ("Canyon") (TSX-V: CNC) announces that it has settled approximately
$475,000 in amounts owed to a former officer and director of Canyon for
outstanding management consulting fees and loans payable, and an
additional $275,000 owed to Benjamin Ainsworth, Canyon's current Chief
Executive Officer and President for outstanding management consulting
Anthony R. Harvey, Canyon's former Chairman and Chief Executive Officer,
agreed to cancel CAD $275,000 in unpaid management consulting fees
payable to ARH Management Ltd., Mr. Harvey's management consulting
company, and agreed to settle CAD $150,000 and USD $50,000 in loans
payable, plus accrued interest, for a total CAD $20,000.
In addition to the settlement with Mr. Harvey, Mr. Ainsworth agreed to
cancel CAD $275,000 in unpaid management consulting fees payable by
Canyon to Ainsworth-Jenkins Holdings Inc., Mr. Ainsworth's consulting
Mr. Ben Ainsworth commented, "This was a prudent financial decision that
will assist in the potential growth and financing of the Company."
On behalf of the Board of Directors,
CANYON COPPER CORP.
Benjamin Ainsworth, President
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.
SOURCE: Canyon Copper Corp.
For further information:
Canyon Copper Corp.
(604) 684-9365 (FAX)