VANCOUVER, May 18, 2016 /CNW/ - Catalyst Copper Corporation (TSX-V: CCY) ("Catalyst" or "the Company") is pleased to report the results from its 2016 annual general meeting of shareholders and special meeting of shareholders, optionholders and warrantholders held on May 18, 2016.
The merger by way of a plan of arrangement with NewCastle Gold Ltd. (TSX-V: NCA, "NewCastle") was approved by 100.0% of the votes cast by shareholders, optionholders and warrantholders. The Company expects to close the plan of arrangement with NewCastle early next week.
Shareholders also voted in favour of the resolutions: a) fixing the number of directors and appointing the nominees; b) for the re-appointment of Deloitte LLP, Chartered Accountants, as auditors of the Company for the ensuing year and authorizing directors to fix their remuneration; and c) for the 10% "rolling" stock option plan.
Forward Looking Information
Certain information contained in this press release constitutes forward-looking statements. All statements, other than statements of historical facts, are forward looking statements including statements with respect to closing the Company's merger with NewCastle. Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.
The forward-looking statements are based on a number of assumptions which, while considered reasonable by Catalyst, are subject to risks and uncertainties. In addition to the assumptions herein, these assumptions include the assumptions described in Catalyst's management's discussion and analysis for the year ended December 31, 2015 ("MD&A"). Catalyst cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of copper and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled "Risk Factors" in the MD&A.
Although Catalyst has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Catalyst disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law.
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 release.
SOURCE Catalyst Copper Corp.
For further information: please visit www.catalystcopper.com or contact: Paul Ireland, CFO on 604-687-1717, Email: [email protected]