VANCOUVER, April 5, 2012 /CNW/ - Nanika Resources Inc. (TSXV-NKA and FSE-C7X) announces results of the 2012 Annual and Special Meeting of Shareholders that was held on Thursday April 5, 2012 in Vancouver, British Columbia. We are pleased to announce that the shareholders of the Company have elected the following five directors of the Company: James Jacuta, Ross Blusson, John Busswood, Ron McMillan and Richard Dunn. Approval was provided for Davidson and Company LLP, Chartered Accountants who were re-appointed as the external auditor, and for the Company stock option plan. The meeting also provided approval for the Board of Directors to change the name of the Company to "Goldbar Resources Inc." and to consolidate shares on the basis of up to ten old for one new share. The board of directors of Nanika held a meeting subsequent to the shareholder meeting and has decided to proceed with the share consolidation on the basis of ten old for one new share and to change the name of the Company to "Goldbar Resources Inc." The board also established several board committees, among which is the audit committee composed of three directors, with a majority of directors being independent. James Jacuta was re-appointed as Chief Executive Officer and John Busswood was re-appointed as Chief Financial Officer.
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.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Nanika Resources Inc. at 604-638-0699 or Toll Free at 1-866-580-0699