MONTREAL, June 2 /CNW Telbec/ - Canadian Royalties Inc. (TSX:CZZ) (the
"Corporation" or "Canadian Royalties") announces the results of its annual and
special shareholders' meeting (the "Meeting") held in Montreal, Quebec on
May 28, 2008.
Board Members Election Results
At the Meeting, the shareholders of the Corporation re-elected as members
of the Board of Directors, Messieurs Bryan A. Coates, R. Bruce Durham,
Richard R. Faucher, David W. Holowack, Glenn J. Mullan, Raymond Savoie, and
Michael H. Wilson; who will serve the Corporation until its next annual
meeting of shareholders.
Other Meeting Results
At the Meeting, the shareholders reappointed Raymond Chabot Grant
Thornton LLP, as auditors of the Corporation. The shareholders also approved,
ratified and confirmed the resolution of the Board of Directors with respect
to the adoption of the Corporation's 2008 Stock Option Incentive Plan. The
amendments proposed to the Amended and Restated Shareholder Rights Plan
Agreement dated May 30, 2003, were not approved by the requisite majority of
the Corporation's shareholders.
Following the Meeting, the members of the Board of Directors reappointed
as officers of the Corporation the following individuals: Grant Arnold as Vice
President, Exploration, Richard R. Faucher as President and Chief Executive
Office, Patrick Godin as Vice President, Operations and General Mine Manager,
Robert Menard as Vice President, Construction and Engineering, Glenn J. Mullan
as the Chairman of the Board of Directors, Gerald Price as Chief Financial
Officer, Sebastien Vezina as Assistant Corporate Secretary, Luciana Zannella
as Corporate Secretary, and Jens Zinke as Vice President, Business
In keeping with the spirit of evolving the Corporation's corporate
governance practices in conjunction with the development of its Nunavik Nickel
Project, in addition to reappointing members to its standing Board committees,
the members of the Board of Directors approved the creation of the following
two committees: Technical Committee and Environment and Corporate
About Canadian Royalties and the Nunavik Nickel Project
Canadian Royalties has initiated the development of an independent,
stand-alone nickel-copper mine on its Nunavik Nickel Project, located
20 kilometres south of Xstrata Nickel's Raglan Mine in northern Quebec.
Canadian Royalties has now received its Environmental Certificate of
Authorization and is proceeding to construction.
For further information:
For further information: Canadian Royalties Inc.: Richard R. Faucher,
President & CEO, Toll free: (877) 879-1688, firstname.lastname@example.org;
Renmark Financial Communication: Jason Roy, Account Manager, (514) 939-3989,